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Report | The Report: Kuwait 2015

While hyrdrocarbons revenues still form the bulk of government income in Kuwait, the country is pushing ahead with its economic diversification goals. Despite the recent fall in oil prices, the government remains committed to an ambitious project pipeline, with a series of mega-projects set to boost economic activity across a range of sectors.

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Chapter | Saudi Guide from The Report: Saudi Arabia 2015

The Guide contains listings of some of the leading hotels and resorts in Saudi Arabia, contacts for important government offices and services, and useful information for first-time visitors.

Chapter | Legal Framework from The Report: Kuwait 2015

This chapter contains an overview of the legal framework for local and international investors in Kuwait and provides a rundown of the key improvements that have been made to the business environment. These include recently introduced public-private partnership laws and a new state agency set up to promote foreign direct investment.

Chapter | Education from The Report: Kuwait 2015

During the 2013/14 academic year, the government operated a total of 803 public schools, with a total enrolment of 360,845 pupils and a teaching staff of 60,902. As demand grows, reforms designed to underpin the sector’s role in the government’s economic diversification plan are being implemented in line with Kuwait Vision 2035, the country’s long-term development strategy. A greater focus on research and development will be needed over the long term as part of the broader push towards a knowledge-based economy. An ongoing focus on female education has led to low levels of unemployment among women aged 15-24, which in 2013 stood at 12.7% versus 22.8% for males. In the private sector, the number of schools has risen from 453 in 2005/06 to 501 in 2013/14, with enrolment rising above 250,000.

Chapter | Health from The Report: Kuwait 2015

Kuwait’s rapidly changing demographic profile and increased prosperity have given rise to various lifestyle changes that have fuelled a rise in the prevalence of non-communicable diseases. To counter this, and to free up public resources for healthy living initiatives, the government is encouraging greater private sector involvement in the sector, starting with provision of health care for expatriates. Meanwhile, the Ministry of Health is in the process of upgrading nine hospitals at a total estimated cost of KD1.25bn ($4.31bn). Two projects – the Al Razi Hospital and the Amiri Hospital – are already under construction, and seven others are to break ground in the next few years.

Chapter | Retail from The Report: Kuwait 2015

With GDP per capita among the highest in the world at $43,200, Kuwait is seeing its retail market continue to perform robustly, underpinned by a strong appetite for luxury products and the strong purchasing power of a young and diverse population. The value of wholesale and retail trade in Kuwait grew 22% between 2010 and 2013, reaching a value of $5.65bn. Meanwhile, the local retail market is forecast to expand at a compound annual growth rate (CAGR) of 6.7% between 2013 and 2018. While traditional retailers remain popular, sales at Kuwaiti supermarkets and hypermarkets are forecast to expand at a CAGR of 9.6% between 2013 and 2018.

Chapter | Industry from The Report: Kuwait 2015

A programme to boost oil production in Kuwait has stimulated growth in construction and petrochemicals. After hydrocarbons extraction and refining, the petrochemicals industry is the largest in Kuwait, with the bulk of production exported to Asia. Manufacturing, meanwhile, is set for continued growth as the country makes a greater push to diversify its industrial base – efforts that will be boosted by a significant influx of funds allocated to transport upgrades as part of the National Development Plan 2015-20. Local pharmaceutical companies are also poised to benefit from rising demand for health care services in the coming years, driven by high birth rates, an ageing population and sustained immigration. This chapter contains an interview with Ahmad Al Jemaz, CEO, Kuwait Aromatics Company.