For an oil-exporting country that is pinning its hopes on foreign direct investment (FDI) and privatisation to transform its economy, Kuwait is betting big on its recently established investment promotion agency. Indeed, pushing a hydrocarbon-dependent economy as an attractive investment destination in a sub-$50-a-barrel oil environment is no easy task. But as the national government forges ahead with the country’s latest development plan, opportunities for foreign investment are opening up.
Here, Dr Meshaal Jaber Al Ahmad Al Sabah, the director-general of the Kuwait Direct Investment Promotion Agency (KDIPA), remains upbeat about the challenges ahead. Noting Kuwait’s strong balance sheet, commitment to project spending and healthy financial sector, the expectation is that investor interest will grow in the coming years.
