'Economic Affairs Minister': Kuwait Moving Toward a More Diversified and Competitive Economy
Press coverage 2 newspapers covered this event: Al-Rai · KUNA →
Minister of Economic Affairs confirms Kuwait's direction toward a competitive economy attractive to investment at the Geneva forum
Translated by Qiyas from السياسة — Original source
Enhancing foreign investment, transferring technology, and creating high-quality jobs to achieve sustainable growth
State Minister 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, strengthen the role of foreign investment, and create an attractive investment environment for long-term investments.
This statement came during Minister Al-Murrouq’s address 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,” with the participation of several ministers, senior officials, and representatives of international organizations and investment institutions.
He emphasized the importance of linking foreign investments with national capabilities and local suppliers, as well as transferring knowledge and technology, to maximize value addition to the national economy.
He stressed the importance of shifting focus from merely attracting investments to directing them toward achieving sustainable economic value, noting 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 high-quality jobs, fostering innovation, and promoting sustainable growth.
He clarified that the coming phase requires enhancing economic resilience, prioritizing investments, developing regulatory frameworks, improving the efficiency of government procedures, and strengthening long-term partnerships with investors.
Minister Al-Murrouq 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.
