Minister of Economic Affairs and Investment: Kuwait Continues Efforts to Build a Diversified and Competitive Economy
Press coverage 2 newspapers covered this event: Al-Rai · KUNA →
صورة: وكالة الأنباء الكويتية (كونا)
The Minister of Economic Affairs confirms Kuwait's pursuit of building a diversified and competitive economy and attracting long-term investments.
Translated by Qiyas from كونا — Original source
Geneva, November 10 (KUNA) – Kuwait’s Minister of State for Economic Affairs and Investment and Acting Minister of Commerce and Industry, Abdulaziz Al-Murrouq, said on Tuesday that the State of Kuwait is continuing its efforts to build a more diversified and competitive economy, enhance the role of foreign investment, and create an attractive investment environment for long-term capital.
This statement was made during a speech delivered by Minister Al-Murrouq at the opening session of the 30th Global Investment Forum, organized by the World Association of Investment Promotion Agencies (WAIPA) in Geneva under the theme “Enhancing Investment for Shared Prosperity: Towards Resilient and Sustainable Investment.” The forum brought together a number of ministers, senior officials, representatives of international organizations, and investment institutions.
He emphasized the importance of linking foreign investments with national capabilities and local suppliers, as well as facilitating knowledge and technology transfer, thereby contributing to maximizing value addition to the national economy. He stressed the need to shift focus from merely attracting investments to directing them toward achieving sustainable economic value. He underscored that the success of investment policies is no longer measured solely by the volume of foreign direct investment inflows, but by their contribution to raising productivity, transferring technology, creating quality jobs, and fostering innovation and sustainable growth.
He clarified that the coming phase requires strengthening economic resilience, prioritizing investment areas, developing regulatory frameworks, improving the efficiency of government procedures, and enhancing long-term partnerships with investors.
Minister Al-Murrouq also participated in chairing a ministerial roundtable session titled “The Next Decade for Global Investments,” which discussed the future of international investment flows, the challenges and opportunities facing countries in attracting investments, and the importance of developing investment policies in line with global economic and technological transformations.
Kuwait’s participation in the conference aligns with its commitment to strengthening its presence at international economic and investment forums, exchanging expertise and experiences, and expanding cooperation with international partners to support sustainable economic development goals. (End) A.M.Kh./M.A.H.A.
