Kuwait City: Minister of Commerce and Industry Khalifa Al-Ajeel affirmed on Wednesday that the government is working to implement ambitious economic policies aimed at restructuring the national economy, achieving diversification, and facilitating the business environment. This announcement was made during the opening of the “Kuwait New Economic Strategy 2025” conference, organized by the Kuwait Direct Investment Promotion Authority in cooperation with The Business Year Group.
According to Kuwait News Agency, the one-day conference gathered a select group of economic leaders and decision-makers from various sectors to discuss these initiatives. In light of the new policies, a set of laws and legislation have been recently implemented, including the Public Debt Law, which aims to rationalize financing tools and support the country’s financial sustainability, and the Real Estate Developer Law, designed to propel the real estate, banking, and investment sectors to new growth levels.
Minister Al-Ajeel highlighted several qualitative initiatives and projects that were recently launched, such as the “Smart License” project, the “Office Licenses Merger” system, and amendments to the Companies Law. These initiatives aim to develop and improve the business environment in Kuwait. The minister emphasized that these government reforms have positively impacted all of the country’s economic indicators. For instance, Kuwait’s GDP witnessed a 4 percent growth in non-oil sectors, marking a real beginning in diversifying income sources and reducing reliance on traditional resources.
He also noted a significant influx of international investments into technology, renewable energy, and infrastructure sectors, reflecting foreign investor confidence in Kuwait as a stable and ambitious investment hub. Minister Al-Ajeel expressed that the government looks to the future with confidence, treats challenges as opportunities, and is moving toward building a new Kuwaiti economic model based on partnership, modernity, and investment in people.
Speakers at the conference addressed various economic and strategic topics, including efforts to revive stalled projects and accelerate the implementation of major development projects such as the Al-Zour Refinery, the National Railway, and Mubarak Al-Kabeer Port. These projects aim to strengthen infrastructure and consolidate the foundations of sustainable development.