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Kuwait Launches “New Kuwait 2035” - ASHARQ AL-AWSAT English Archive
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Kuwait- Kuwait has launched on Monday “New Kuwait 2035”: a development plan that represents the state’s promising economic future by 2035, a plan that aims at transforming Kuwait to a financial and commercial center that attracts investments.

This vision aims at making Kuwait an attractive investment center where the private sector leads the economic activities, encourages competition and increases production efficiency amidst a supportive organizational system.

This initiative comes months after launching a similar Saudi initiative holding the name Saudi Vision 2030 to free the kingdom’s economy from dependency on oil.

The Kuwaiti government launched 12 years ago a vision to transform Kuwait into a commercial and financial hub in the region but observers say that not much has been achieved.

Kuwait, a member of OPEC, suffers from reliance depending on oil that makes up to 90% of the state’s revenues. During the past years, Kuwait witnessed a drop of oil prices leading to a deficit in the budget for the first time since 15 years.

This drop in prices pushed the government to launch a program for economic reforms that is still subject to discussions at the government.

Last year, the government signed a deal for building a new international airport with doubled capacity compared to the current one.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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