The recent reports suggest that a five year plan is being worked upon, which includes construction of 45,000 housing units, a metro rail network, a railway network and several large scale oil projects, (one new refinery).
The total spending of $116 billion is being planned in next five years to make Kuwait as a regional trade and financial hub by 2035, State Minister for Planning and Development mentioned.
The overall plan is to boost Kuwait’s GDP, drive growth in private participation in the economy from current 26.4% to 41.9% and also increase number of Kuwaiti nationals employed in the private sector from current 92,000 to 137,000.
The approvals and spending will not face any hurdle inspite of fall in oil prices, he further added.
Leave a Comment