‘New Kuwait 2025 Era’ forum charts path toward economic reform and diversification

The “New Kuwait 2025 Era” forum, organized by The Business Year in cooperation with KDIPA, the Kuwait Banking Association, and the Federation of Investment Companies, facilitated open dialogue on enhancing Kuwait’s regional and global economic competitiveness amid shifting global conditions.

Held at a critical juncture, the forum emphasized accelerating economic reforms, empowering the private sector, and encouraging investment within a flexible, digitally driven regulatory environment—aligned with Kuwait Vision 2035.

Government plans center on reviving and launching key projects, including the Al-Zour Refinery, Mubarak Al-Kabeer Port, and the railway project. Minister of Commerce and Industry Khalifa Al-Ajeel highlighted reforms that led to a 20% rise in foreign direct investment last year, especially in technology, renewable energy, and infrastructure. These reforms boosted non-oil GDP by 4%, marking a real shift in income diversification.

Al-Ajeel cited several initiatives, such as the “Smart License,” “Office License Merger,” and amendments to the Companies Law, along with critical legislation like the Public Debt Law and the Real Estate Developer Law—all aimed at enhancing the business climate and financial sustainability.

He emphasized His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah’s vision as the guiding force behind economic policy, calling for a resilient, innovation-led, private sector-driven economy open to global engagement.

Hamad Al-Marzouq, Chairman of the Kuwait Banking Association and Kuwait Finance House, reaffirmed the commitment to strong public-private partnerships. He noted ongoing reforms to diversify income, address fiscal imbalances, and boost housing development through private sector involvement and sustainable financing mechanisms.

Al-Marzouq stressed the banking sector’s readiness to finance Kuwait’s economic transformation, citing its robust capital base, legal protections for investors, and progress in digital services, financial inclusion, and environmental sustainability.

Together, these efforts mark a historic opportunity to move Kuwait into a new era of productivity, innovation, and strategic partnerships, positioning it as a dynamic regional investment hub.