Kuwait’s foreign direct investments (FDIs) in the last four years have surged to KD960 million ($3.2 billion) mainly in the infrastructure sector from January 2015 to March 2019 period, said a report.
The FDI flow into the country for the 2018-19 period was KD156 million, stated the report by Kuwait Direct Investment Promotion Authority (KDIPA).
These investments have been made in the major sectors of oil and gas, construction, information systems services, training, health, energy, consulting, market research and leisure activities, it stated in the fourth annual report for 2018/2019.
The fund inflow mainly came from 16 foreign and Arab countries, it added.
Kuwait’s Commerce and Industry Minister Khaled Nasser Abdullah Al Roudan said these investments have a positive direct impact on economic and social levels, such as providing job and training opportunities for the national workforce, transferring the latest technology and supporting the local economy.
Also, it plays a crucial role in achieving the objectives of the ‘National Vision 2035’, especially those related to economic diversification and the role of the private sector, and ensuring Kuwait’s commitment to achieving the Sustainable Development Goals (SDGs) from 2015 to 2030.
TradeArabia News Service