OBG pub­lishes The Re­port: Kuwait 2016

Ox­ford Busi­ness Group pub­lishes 2016 coun­try re­port

Kuwait Times - - BUSINESS -

KUWAIT: Kuwait’s plans to in­crease the role of the pri­vate sec­tor and at­tract new for­eign play­ers to its shores are ex­plored in a new re­port pro­duced by the global pub­lish­ing, re­search and con­sul­tancy firm Ox­ford Busi­ness Group (OBG).

The Re­port: Kuwait 2016 high­lights the coun­try’s project pipeline, which is gain­ing mo­men­tum, de­spite cutbacks put in place as a re­sult of the cur­rent chal­leng­ing eco­nomic en­vi­ron­ment.

It also shines a spot­light on Kuwait’s in­dus­trial sec­tor, which has a key part to play in the coun­try’s ef­forts to di­ver­sify its econ­omy. High­lights in­clude a drive un­der way to de­velop ex­port-ori­ented busi­nesses and the rolling out of new eco­nomic zones.

While mea­sures aimed at broad­en­ing Kuwait’s eco­nomic base are gath­er­ing pace, the gov­ern­ment is also in­vest­ing heav­ily in its im­por­tant en­ergy sec­tor, with the two-fold aim of boost­ing oil pro­duc­tion and re­duc­ing costs through an ef­fi­ciency drive. OBG’s re­port charts the lat­est de­vel­op­ments across the sec­tor, in­clud­ing Kuwait’s up­com­ing ex­plo­ration plans. There is also de­tailed cov­er­age of the coun­try’s planned wind and so­lar projects, which will be piv­otal in help­ing Kuwait reach its 2030 re­new­able gen­er­a­tion goals.

The Re­port

Kuwait 2016 con­tains a con­tri­bu­tion from His High­ness the Amir Sheikh Sabah Al-Ahmed Al-Jaber Al Sabah to­gether with a de­tailed, sec­tor-by-sec­tor guide for in­vestors.

It also fea­tures a wide range of in­ter­views with other high-pro­file personalities, such as: Na­tional As­sem­bly Speaker Mar­zouq Ali Al-Ghanem, Min­is­ter of Com­merce and In­dus­try Yousef Mo­hammed Al-Ali, Di­rec­tor Gen­eral, Kuwait Di­rect In­vest­ment Pro­mo­tion Author­ity Sheikh Me­shaal Jaber Al-Ah­mad Al-Sabah and , Di­rec­tor Gen­eral, Kuwait Fund for Arab Eco­nomic De­vel­op­ment Ab­dul­wa­hab Al-Bader.

In­ter­na­tional rep­re­sen­ta­tives who give their views on Kuwait’s de­vel­op­ment in­clude Ab­dul Latif Al-Zayani, Sec­re­tary-Gen­eral, GCC, and Tobias Ell­wood, MP and Min­is­ter for the Mid­dle East and North Africa, UK For­eign and Com­mon­wealth Of­fice.

Andrew Jef­freys, OBG’s CEO and Editor-in-Chief, said that while Kuwait’s fis­cal po­si­tion had shifted un­der the weight of lower oil prices, leg­isla­tive re­forms, such as amend­ments to the public-pri­vate part­ner­ship and for­eign own­er­ship laws, to­gether with pol­icy changes, were yield­ing re­sults.

“The amount of pri­vate cap­i­tal that Kuwait is at­tract­ing for its in­fra­struc­ture projects is on the rise, the pri­va­ti­za­tion of state as­sets is mov­ing for­ward and new sup­port is also be­ing made avail­able for smaller busi­nesses,” he said. “Our re­search on Kuwait points to an evolv­ing pri­vate sec­tor that is set to play a much big­ger role in a more di­ver­si­fied econ­omy.”

OBG’s Man­ag­ing Editor for the Mid­dle East Oliver Cornock added that key re­forms, such as en­ergy sub­sidy re­duc­tions, would play a cru­cial part in the gov­ern­ment’s ef­forts to re­shape the eco­nomic land­scape.

“A chal­leng­ing eco­nomic en­vi­ron­ment has meant that spend­ing cuts and new taxes are on the ta­ble,” he said. “How­ever, with emerg­ing sec­tors of the econ­omy ripe for growth and an evolv­ing in­vest­ment frame­work, Kuwait has plenty to of­fer the in­ter­na­tional busi­ness com­mu­nity.”

The Re­port: Kuwait 2016 marks the cul­mi­na­tion of more than six months of field re­search by a team of an­a­lysts from Ox­ford Busi­ness Group. The pub­li­ca­tion as­sesses trends and de­vel­op­ments across the econ­omy, in­clud­ing macroe­co­nomics, in­fra­struc­ture, bank­ing and other sec­toral de­vel­op­ments. It is avail­able in print and on­line.

Ox­ford Busi­ness Group (OBG) is a global pub­lish­ing, re­search and con­sul­tancy firm, which pub­lishes eco­nomic in­tel­li­gence on the mar­kets of the Mid­dle East, Africa, Asia and Latin Amer­ica and the Caribbean. Through its range of print and on­line prod­ucts, OBG of­fers com­pre­hen­sive and ac­cu­rate anal­y­sis of macroe­co­nomic and sec­toral de­vel­op­ments, in­clud­ing bank­ing, cap­i­tal mar­kets, in­sur­ance, en­ergy, trans­port, in­dus­try and tele­coms. The Re­port: Kuwait 2016 has been pro­duced with the Kuwait Di­rect In­vest­ment Pro­mo­tion Author­ity (KDIPA) and the law firm Al-Tamimi & Co.

The crit­i­cally ac­claimed eco­nomic and busi­ness re­ports have be­come the lead­ing source of busi­ness in­tel­li­gence on de­vel­op­ing coun­tries in the re­gions they cover. OBG’s on­line eco­nomic brief­ings pro­vide up-to­date in-depth anal­y­sis on the is­sues that mat­ter for tens of thou­sands of sub­scribers world­wide. OBG’s con­sul­tancy arm of­fers tai­lor-made mar­ket in­tel­li­gence and ad­vice to firms cur­rently op­er­at­ing in these mar­kets and those look­ing to en­ter them.

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