Authorities in Kuwait have been keen to open up the country’s economy to foreign investors in the past few years, in a bid to diversify revenue streams and lower the government’s reliance on petroleum exports.
Capital markets have undergone a significant transformation, with a series of far-reaching reforms resulting in the inclusion of Kuwaiti stocks in the FTSE Russell Emerging Markets Index in late 2018. Stocks are set to be included in the Emerging Market Index of MSCI, the world’s largest index provider, in June 2020, generating about $2.7bn in passive inflows, according to initial estimates.
