Kuwait is rolling out one of its most ambitious development drives to date, with plans to attract up to KD10bn ($32.6bn) in private and foreign investment, generate annual revenues of KD1bn ($3.26bn) by 2030, and create more than 50,000 new jobs.
The programme is anchored in the New Kuwait 2035 Vision and combines sweeping reforms, strategic partnerships, and mega projects in energy, transport, infrastructure, smart cities, and industrial zones.
The government says the strategy will also reduce pressure on the state budget by around 30 per cent while strengthening long-term economic sustainability.
Progress has already been made on the Mubarak Al Kabeer Port project, with the execution contract signed in March. Environmental cooperation includes afforestation programmes, ecosystem rehabilitation, and land reclamation.
Kuwait has also elevated its historic ties with Japan to a comprehensive strategic partnership, expanding cooperation across trade, investment, renewable energy, and petrochemicals.
The World Bank projects Kuwait’s economy will rebound to 2.2 per cent in 2025, driven by infrastructure projects, OPEC+ production adjustments, and non-oil sector growth. Growth is forecast to stabilise at 2.7 per cent between 2026–27.
S&P Global Ratings expects continued growth supported by reforms, while EFG Hermes highlighted improved decision-making and raised its forecast for banking sector expansion starting from 2026.
