Kuwait Premier highlights country’s economic turnaround at WGS-2026

The Times Kuwait Report

His Highness the Prime Minister Sheikh Ahmed Al-Abdullah Al-Ahmad Al-Sabah, affirmed that Kuwait has moved from vision to implementation, launching fundamental reforms to strengthen financial stability, diversify the economy, and expand private-sector participation.

The premier made the remarks while delivering Kuwait’s address at the World Government Summit 2026 (WGS-2026) in Dubai last week. His Highness described the summit as a leading global platform and a ‘laboratory of ideas’ that connects ambitions of governments with the aspirations of their peoples.

The Prime Minister said the past year marked a decisive phase in Kuwait driven by clear political will, bold decisions, and rapid execution, producing three key lessons: boldness in decision-making, speed in achievement, and genuine partnership.

Sheikh Ahmed outlined major steps taken to ensure sustainable public finances, including the Finance and Liquidity Law regulating public debt management and forthcoming legislation governing the issuance of government bonds in line with Islamic Sharia principles. These reforms strengthened international confidence, reflected in S&P Global Ratings upgrading Kuwait’s sovereign rating from A+ to AA- with a stable outlook.

Kuwait also returned to global debt markets with a $11.25 billion sovereign bond issuance, became a full member of the Asian Infrastructure Investment Bank, and recorded its highest development spending rate in five years. He explained that the financial tools serve a broader objective; building a diversified and sustainable economy anchored in private-sector partnership.

Additionally, he highlighted Kuwait’s progress toward establishing an integrated transport and logistics system, through, among others, signing the Mubarak Al-Kabeer Port contract as Kuwait’s maritime trade gateway; opening the new airport control tower and third runway; continued work on the new passenger terminal, set to open in 2027; and signing the railway study and design contract to advance the Kuwait–Riyadh rail link.

He added that together these projects form a strategic sea-air-land network supporting diversification and long-term growth. In energy and technology, the Prime Minister cited a decade-long partnership with GE Vernova and the establishment of a regional technology center to build national expertise. He also announced major opportunities for global firms in the oil and gas sector, including the Shaheen Peregrine oil export pipeline network and the Al-Seif offshore oil development project, while preserving state sovereignty.

On governance and services, Sheikh Ahmed said Kuwait expanded its digital transformation, with the ‘Sahl’ app surpassing 25 million transactions, migration of the Ministry of Finance’s systems to the cloud, and integrated smart-government initiatives.

Health, housing, and education sectors also saw qualitative improvements, reinforcing the focus on human development as the core of reform.

More than 50 legislative amendments were introduced over the past year, alongside the launch of the Kuwait Visa platform, updated residency regulations, tourism development, and broader governance reforms.

Recalling Kuwait’s experience with occupation and war, the Prime Minister stressed that peace is a prerequisite for development and reaffirmed Kuwait’s role as a voice for dialogue, sovereignty, bridge-building, and humanitarian action through a balanced and moderate foreign policy.

“The future does not wait for the hesitant,” he said, emphasizing Kuwait’s commitment to shaping its future through reform, transparency, and global cooperation.