Kuwait reaffirms commitment to economic diversification and foreign investment
. . . targets long-term foreign investment to strengthen economic competitiveness; shifts focus towards technology, jobs and productivity
Kuwait is stepping up efforts to diversify its economy, strengthen the role of foreign investment and create a more attractive environment for long-term investors, Minister of State for Economic Affairs and Investment Abdulaziz Al-Marzouq said on Tuesday.
Al-Marzouq, who also serves as Acting Minister of Commerce and Industry, made the remarks during the opening session of the 30th World Investment Conference, organized by the World Association of Investment Promotion Agencies (WAIPA) in Geneva. The conference brought together ministers, senior officials and representatives of international organizations and investment institutions.
He stressed the importance of linking foreign investments with national talent and local suppliers while encouraging the transfer of knowledge and technology to maximize value added to the national economy.
Al-Marzouq said Kuwait’s investment strategy must move beyond simply attracting foreign capital towards directing investments into projects that generate sustainable economic value.
He noted that the effectiveness of investment policies should not be measured solely by the volume of foreign direct investment (FDI) inflows, but also by their contribution to improving productivity, transferring technology, creating employment opportunities, encouraging innovation and supporting sustainable economic growth.
