Kuwait is probably the most discreet and least-known country in the GCC. However, its role on the international stage has not ceased to grow over time. Besides, with HH Sabah Al-Ahmad Al-Jaber Al-Sabah, Amir of Kuwait has initiated a highly ambitious plan with Kuwait's Vision 2035. This project entails a wide-ranging reform plan aiming to boost diversification and increase the private sector's contribution to the economy.
Significant oil reserves (101,500 million barrels), exemplary diplomatic relationships and a unique location are some of the factors that make Kuwait a unique place worth looking. Extensive economic reforms and creating a business-friendly environment are progressively boosting foreign investors' appetite on the medium and long-term.
Kuwait's economic structure mostly relies on the production and export of oil (above 80% of Kuwait's total export value). Realizing the limited sustainability of this economic model, Kuwait has undertaken a path toward rapid diversification. All the sectors in Kuwait are on the rise. The Government is planning and progressively laying down a robust base for the country's long-term and sustainable development.
In light of the Emirate's highly ambitious projects, Kuwait is significantly investing in developing its national human resources while creating an attractive working environment for qualified expatriates. Kuwait's working conditions are unparalleled for highly skilled immigrants who wish to be challenged and be given unique opportunities.
In fact, at ABDG, we are continually sourcing talented people locally and overseas to create a multinational and multicultural team that has proven to be highly efficient by establishing an "out of the box" mindset. Being at the crossroad of so many different cultures and having such a diverse population has created a one of a kind business environment.
Also, Kuwait wishes to enhance its attractiveness by creating an infrastructure that will transform the country into a regional focal point in the near future. The recently built Sheikh Jaber Al-Ahmad Causeway is clear evidence of the country's desire to enhance its road infrastructure while developing the untapped potential of the northern part of the Emirate.
Another praised jewel of Kuwait's master planning is the Mubarak Al-Kabeer Port. With this USD5 billion project, Kuwait is trying to increase its maritime connections and increase Kuwait's overall attractiveness on the international stage.
Finally, Kuwait is trying to catch up with its neighbors by developing its international airport. With Terminal 4 finalized, all the attention is now on the upcoming Terminal 2. Promoted as an avant-garde airport, T2 should help Kuwait elevate its international image and make it a more desirable country.
Future mega-projects in different sectors are also in the pipeline and will undoubtedly spur the FDI inflow. Many international investors have expressed a strong interest in the upcoming projects.
Finally, Kuwait enjoys unique and fundamental characteristics making this country so attractive for whoever wants to enter the Middle East.
Firstly, Kuwait is the only country that maintains positive relationships with the rest of the Gulf countries alongside Oman. Despite the existing tensions between KSA and the UAE vis a vis Qatar, Kuwait has always managed to set itself apart. This has had a direct positive effect on the economic stability and growth of the Emirate. Even during the barrel's price recent crisis, Kuwait has always managed to maintain its investment levels in the local economy, unlike its neighbors.
Kuwait's geopolitical and diplomatic savviness, make the country safe for foreign investors to come and venture with local partners.
Besides, when adjusted by Purchasing Power Parity, Kuwait's GDP per capita is equivalent to 369% of the world's average. This is a bonanza for any person willing to enter the Kuwaiti market.
However, before venturing in any foreign market, it is necessary to find a reliable local partner. Gulf countries' market can be tricky and are characterized by a very present bureaucracy. Even though Kuwait is trying to limit the red tape, this system is also aimed to protect the local economy while ensuring that only serious investors enter the country.
ABDG's expertise and team have successfully established successful ventures across different sectors. Our transparent and cautious approach, as well as our unique relationships with local authorities, have made us a second to none partner for whoever wants to enter the Middle East.
To conclude, the same way there was an "American Dream" years ago, we believe that today there is the "Kuwaiti Dream". This Emirate is full of untapped opportunities and potential. With Vision 2035, Kuwait has laid out the roadmap towards tremendous success and long-term sustainability. Therefore, we firmly believe that if one country is worth investing in within the GCC, it is Kuwait.