With the world’s sixth-largest proven oil reserves, Kuwait’s mineral wealth has turned it into one of the world’s richest countries. As the government seeks to diversify the economy and achieve its ambitious “Vision 2035”, it is investing heavily in infrastructure and aims to become one of the leading financial and logistics hubs of the Middle East. It is also seeking to expand into industry, including the development of a larger downstream petrochemicals manufacturing industry.
Kuwait’s SEZ programs have the potential to play a significant role in this process. In addition to Locus Economica founder Jean-Paul Gauthier’s work on Kuwait’s original Free Zone program for the World Bank in 2006, Locus Economica has contributed to the launch of three further SEZ-type programs in Kuwait under the aegis of the World Bank assistance to the country since 2011; the Kuwait Petroleum Corporation’s (KPC) Oil & Gas SEZ initiative, the Kuwait Direct Investment Promotion Authority (KDIPA)’s three FDI zones and the Kuwaiti Central Agency for Information Technology (CAIT)’s Digital Oasis project. As of 2019, PACE and Surbana Jurong have been contracted to develop the Al Abdali Economic Zone, one of KDIPA’s three FDI zones.
Our Experience in Kuwait