Kuwait to launch 12 mega-projects with private sector under Vision 2035
Political stability makes Kuwait a prime destination for long-term investment: Al-Mukhaizeem
Minister of Electricity, Water and Renewable Energy, Minister of Finance, and Acting Minister of State for Economic Affairs and Investment Dr. Subaih Al-Mukhaizeem affirmed that Kuwait is undergoing a rapid transformation aimed at creating a more attractive environment for foreign investment and private sector growth.
He revealed that the government is moving forward with the launch of 12 major mega-projects in partnership with the private sector, six of which are currently being rolled out, with six more scheduled for launch in the near future.
Al-Mukhaizeem made the remarks during his participation in a high-level dialogue session organized by Bloomberg on securing the future of the Gulf region and prioritizing sustainable growth, reports Al-Rai daily.
The session, held on the sidelines of the World Economic Forum in Davos, Switzerland, also featured the Co-Chief Executive Officer of Goldman Sachs International, Anthony Gutman.
The minister emphasized that Kuwait Vision 2035 seeks to establish a diversified, private-sector-led economy supported by robust infrastructure and strong regional and international partnerships, enhancing the country’s resilience in the face of global economic fluctuations.
He highlighted political and economic stability as among Kuwait’s most significant competitive advantages, positioning the country as an attractive destination for long-term, multi-generational investments amid volatile global markets and widespread economic uncertainty. He noted that Kuwait’s extensive network of international relations further strengthens investor confidence.
Al-Mukhaizeem explained that, through the Public-Private Partnership Authority, the government is accelerating the introduction of major projects in collaboration with the private sector to leverage private expertise and share risks.
He pointed out that while only four projects have been awarded in the more than ten years since the Authority’s establishment, six projects are currently being introduced, with an additional six expected to follow shortly.
He added that several other projects are under study and preparation, with plans to offer them as public-private partnerships in the coming period, as part of the government’s broader strategy to stimulate economic growth and expand private sector participation.
