imported 2024-03-17 17:43:07
“There hasn’t been much Kuwait oil development here in the past 20-30 years compared to the rest of the region. However, with the new four year economic development plan we are going to be able to see where Kuwait can go to drive development and change” – Wataniya Telecom ’s CEO Scott Gegenheimer
Kuwait plans to spend about 16 billion dinars (US$56bn) in the fiscal year starting April 1, 2010 one-third more than the current year as oil prices rise. The emirate, which expects to spend 12.1 billion dinars in the current fiscal year, posted a budget surplus of 2.74 billion dinars last year as it benefited from higher oil sales.
Kuwait strategic economic plan is worth 30 billion dinars (US$104 billion). On the agenda is a detailed roadmap to implement Kuwait economic plan a long-term strategy after years of short-term planning. It is the first of its kind since 1986.
Kuwait ruling family Al-Sabah has always said that all governments in the Gulf region should work for stability in the Persian Gulf. His Highness Sheikh Al-Sabah has no interest in any movement that might destabilize the gulf. However, Kuwait foreign relations with Iran remain complex, but have improved despite a number of unanswered questions.
Kuwait and Iraq approached each other after Saddam’s regime was ousted in 2003. The carefully planned détente culminated on the 16th of July 2009 when Kuwait named its first ambassador to Iraq since the 1991 Gulf War.
The result of the elections, however, sent encouraging signals throughout the Arab world. A total of 210 candidates vied for 50 seats, among them 50 women. Four women won seats—a result that can fairly be described as revolutionary within the countries of the Gulf Cooperation Council (GCC).
Capital standards report that “the real estate sector in Kuwait experienced unparalleled growth during 2000–2007. Post 2007, however, the performance of the sector has remained lackluster.” The contribution of the sector to GDP in Kuwait has been roughly 3.7%.
Top Ministries in Kuwait
Marcopolis.net presents the list of top ministries, public and private institutions in Kuwait.
The Kuwait telecom industry is relatively mature and advanced, with high penetration rates and per spending capita. Nevertheless, the country’s penetration rates are lowest among the Gulf countries, indicating opportunities for further growth potential, reports Capital Standards. Penetrations rates: Fixed line 16.5%, Mobile 141% (number of subscribers reaching 3.56 million and increase of 10.7%, as compared to 3.22 mm subscribers at the end of 2008 according to Kuwait Internet and E-commerce Investment and Business Guide), Internet 41%.
Kuwait logistics sector developed as a result of the large logistic contracts associated with the presence of the US in Iraq. The 2 major players are KGL and Agility followed by Kuwait Dynamics and Mubarrad Transport. The western defense contractors have decreased. But on the other hand, there has been a substantial increase in international construction companies. The sector is still booming due due to the fact that the construction sector is booming with the government projects and international contractorsare actually requiring that service more. The end of war in Iraq can serve as a major opportunity for the Kuwaiti logistics companies.
