Investments in Kuwait are among the most attractive in the Middle East at the moment. Even though the country has faced territorial and political problems in the last century, it has experienced considerable growth over the last 15 years, becoming a regional benchmark. As a result of the state’s investments and the administration’s efforts to facilitate company formation, the country has positioned itself as a modern country with access to new technologies, which facilitates foreign investment.
Not to be forgotten, Kuwait is one of the world’s leading oil producers with over 700 oil and gas fields, and on par with other Middle Eastern countries has reinvested profits from oil sales to develop other sectors such as technology, finance and tourism.
What is Kuwait’s Index of Economic Freedom?
In the 2021 Index of Economic Freedom, Kuwait is ranked 74th. The ranking is based on data from 186 countries worldwide. Kuwait occupies a prominent place at the world level, ranking on par with the United Arab Emirates. Particularly noteworthy are the country’s financial freedom, low tax rate, and fiscal consolidation.
It has problems, however, primarily in the areas of public spending and monetary freedom.
What is Kuwait’s financial status and how does it help business start-ups?
The country had 13.6 commercial banks per 100,000 adults in 2021, which is higher than the regional average. Furthermore, Kuwait’s central bank’s official interest rate is 1.5%, below the regional average of 5.6%, making it easier for businesses to access financing. However, the country’s corruption rate is high, which affects the credibility of the country for investors.
What are the manpower indicators in Qatar?
12.0% of the Kuwaiti population over the age of 15 had tertiary education in 2021, so most of them are educated enough to enter the labour market. However, the ease for Kuwaitis in terms of subsidies and facilities despite not having a job means that the labour force participation rate stands at 69.7% of the working-age population in 2021. This is also due to the influx of foreign professionals, so there are plenty of job opportunities in Kuwait.
What opportunities does Kuwait present for foreign companies?
Kuwait is ranked 55th in the Network Readiness Index 2021, which points to a high potential for business innovations. Therefore, technology companies can find opportunities to access the Middle Eastern market from Kuwait.