KUWAIT CITY : Kuwait has outlined an ambitious development roadmap under its New Kuwait 2035 Vision, aiming to attract KD 10 billion (USD 32.6 billion) in private and foreign investment. The strategy focuses on implementing 124 large-scale projects designed to diversify the economy, generate sustainable revenues, and create 50,000 new jobs for citizens over the next decade.
Economic Transformation Goals
Officials said the initiative is projected to yield KD 1 billion (USD 3.26 billion) in annual revenue by 2030, while reducing government expenditure by as much as 30% through stronger private-sector involvement. The reform package is intended to build fiscal resilience, reduce reliance on oil, and foster transparency in public spending.
To accelerate delivery, a ministerial committee on development and mega-projects has been established, with a particular focus on expanding strategic partnerships with China. The committee has already held 22 high-level meetings to streamline approvals, fast-track contracts, and remove regulatory hurdles.
Landmark Projects
Among the flagship initiatives is the Mubarak Al Kabeer Port, where contracts for execution have been signed and preliminary works are underway. Other projects include investments in smart cities, renewable energy, and industrial zones, alongside environmental measures such as large-scale afforestation, rehabilitation of natural ecosystems, and land reclamation to ensure sustainable growth.
Kuwait is also strengthening ties with Japan, building on long-standing cooperation in energy and petrochemicals while expanding into renewable energy, technology, and trade.
Looking Ahead
The New Kuwait 2035 programme represents one of the most comprehensive economic transformation plans in the region. By combining infrastructure expansion with job creation and environmental safeguards, Kuwait aims to reposition itself as a diversified economy and a hub for investment in the Gulf.
Officials emphasized that private capital and international partnerships will be the cornerstone of this vision. If fully realized, the initiative could reshape Kuwait’s economic landscape and deliver long-term stability in line with global sustainability trends.