DOCSLIB.ORG

Mahdi: Silk City, Privatization & Kuwait's Strategic Plan

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Mahdi: Silk City, Privatization & Kuwait's Strategic Plan Issued by Union of Investment Companies June 2019 - Issue No.6 MAHDI: SILK CITY, PRIVATIZATION & KUWAIT’S STRATEGIC PLAN IIF EXAMINES TURKEY INVESTING KUWAIT’S FINANCIAL IN KUWAIT FOR THE FUTURE LONG TERM FITCH RATINGS: ME GLOBAL MORTGAGE AMBITIOUS FOR CRISIS 10 YEARS ON RENEWABLES 1 President's Message Silk City and Kuwait’s strategic development he New Kuwait 2035 strategic our in-depth interview with Dr Khalid development plan is ambitious, Mahdi, Secretary General of the Su- Tsweeping and necessary. Ku- preme Council for Planning and the wait stands at the cusp of a critical man overseeing the implementation of juncture. Will we move toward the fu- Kuwait’s strategic development plan. ture with a strong, diversified and sus- He offers some important insights into tainable economy beyond oil or will how this plan is evolving and what we continue to fall behind? challenges lie ahead. Our choice is clear: We need to grow We are also pleased to share import- the private sector to build a vibrant ant insights on Kuwait’s economic and thriving knowledge economy, a future from Dr Garbis Iradian, Chief regional trading hub that rivals the Economist for MENA and Boban Mar- glory of our illustrious past and that kovic, Senior Analyst at the Institute serves not only Kuwait but the rest of of International Finance. In this issue, the region and the world as an import- we also are pleased to share an inter- ant destination for economic develop- view with Turkish Ambassador to Ku- ment in the Arab world. wait Her Excellency Ayse Hilal Say- an Koytak, an article examining the Opportunities like the Northern Eco- evolving role of fintech in the region nomic Zone – also known as the Silk and much more. City project – are not only a chance for Kuwait to regain its past glory as an As President of the Union of Invest- important trading hub, but also for us ment Companies, I look forward to as local investors to partner with inter- a future filled with opportunities, to national investors to build profitable, a changing economy where private sustainable economic opportunities. sector and investment lead the way in building efficient, effective busi- To achieve these ambitions, there are nesses that serve the varied needs of many challenges ahead and many de- the country’s growing population, tails that remain to be decided. To this provide our youth with employment end, the investment community as a and professional development oppor- whole needs to understand fully what tunities, and transfer and develop the opportunities and challenges exist knowledge bases and skills we will and what role we have to play in this need far into the future. exciting future. Thank you In this issue, we hope to offer some answers to these questions through Saleh S. Al-Selmi Issue 6 Th s ssue 06 04 WORLD ENERGY BALANCES 06 KUWAIT’S FINANCIAL FUTURE: A VIEW FROM THE IIF 12 FITCH RATINGS: MIDDLE EAST IN AMBITIOUS DRIVE FOR RENEWABLES GENERATION 14 SILK CITY, DIVERSIFICATION, PRIVATIZATION AND KUWAIT’S NATIONAL DEVELOPMENT STRATEGY 22 DEVELOPING KUWAIT’S FUTURE ECONOMY THROUGH ITS YOUTH 24 GROWING INTEREST IN BILATERAL, GREENFIELD INVESTMENTS 30 KUWAIT MAKES GREAT STRIDES 34 GLOBAL MORTGAGE CRISIS 10 YEARS ON 3 Investor Briefs Gulf adopts modern bankruptcy laws Cent banks up gold holdings man is the latest in the Gulf Cooperation Council to work on the adoption of a bankruptcy and insolvency law intended to help protect businesses and inves- Otors. The law is expected in the second half of 2019. Saudi Arabia adopted a new bankruptcy law last August and may soon see its first major test now that the Saudi conglomerate Ahmad Hamad Algosaibi and Brothers (AHAB) has filed for financial restructuring under the new law. The UAE issued a bankruptcy law in 2016 to oversee financial bankruptcies and restructuring but the law wasn’t implement- ssue 06 ed until March 2019, when the first UAE company successfully restructured its debt under the Chapter 4 filing. Bahrain introduced new insolvency legislation in December entral banks across 2018, using Chapter 11 bankruptcy legislation from the United States as a model. the globe are revis- ing their relation- Kuwait and Qatar have yet to update their insolvency legislation. The Kuwait Central C ship with gold bullion, Bank completed draft legislation on the issue of banks’ bankruptcies but general insol- buying more of the metal vency laws remain outdated or insufficient. and bringing more home The GCC states have begun modernizing bankruptcy legislation in a bid to create a to be held domestically. more attractive destination for foreign investors and to provide a legal framework for Central Banks in China, local businesses that need Hungary, India, Poland, to restructure debt due to a Russia and Kazakhstan three year slump in global How economies in Arab World rank among others have upped oil prices. on the ease of resolving insolvency monthly gold purchases. Oman’s new bankruptcy “Demand from central legislation is part of a slate banks in January and of new statutes planned February amounted to 90 by Muscat to improve the tons of fresh buying,” said sultanate’s investment and Ross Norman, CEO of business climate and im- London-based gold bul- prove its ease of doing lion broker Sharps Pixley business rankings. Accord- speaking at the recent ing to the World Bank’s Dubai Precious Metals Ease of Doing Business Conference. The purchas- 2019 ranking, the United es are 61% higher than Arab Emirates leads the the 56 tons bought at the Gulf region, ranked at 11. same time last year, ac- Bahrain comes in much cording to a Zawya report further down the index at on the subject. 62; Oman at 78; Qatar at At the same time, central 83; Saudi Arabia at 92 and banks are also shifting Kuwait at 97, with the scale more gold to home ter- from 1 to 190 with 190 be- ritories. Zawya attributes ing the worst ranking. the moves, at least in part, Investors typically consid- to the recent decision by er a country’s legal frame- the Bank of England to work and protections for refuse a request from the investors, especially mi- Venezuelan government nority investors, when of Nicolas Maduro to making investment deci- repatriate $1.2 billion in sions – especially in fron- gold reserves. tier or emerging markets. Issue 6 4 Charts & Graphs World Energy Balances he IEA’s World Energy Balances presents comprehensive energy balances for all the world’s largest energy producing and consuming countries. It contains detailed data on the supply Tand consumption of energy for 150 countries and regions, including all OECD countries, over 100 other key countries, as well as world totals. The companion World Energy Statistics provides more detailed data for all energy sources - coal, gas, oil, electricity, renewables and waste - in original units. Purchase them together for a dis- counted price. Access documentation and methodology for IEA balances and world energy statistics. Between 1971 and 2016, world total primary energy supply (TPES) increased by almost 2.5 times. While oil was still the dominant fuel in 2016, its share has fallen over the past decades. In con- trast, the share of natural gas and nuclear power have both grown significantly. In 2011, coal reached its highest level since 1971 at 29% (peaking at 71% of TPES in China). However in the past five years its share has declined. Mtoe oal il atral gas clear Hydro iofelswaste ther renewables IEA. All rights reserved. Energy demand has evolved differently across world regions – the OECD’s share of global TPES has fallen significantly since 1971, while almost tripling in non-OECD Asia. The IEA family of countries, which includes IEA member economies, Association and Accession countries, accounted for 71% of global TPES in 2016. Issue 6 June 2019 5 Mtoe OECD Africa on Americas on roe and rasia iddle ast on Asia nkers IEA. All rights reserved. One of the drivers for the change seen in Asia has been the growth of energy consumption which has soared since the early 2000s. Meanwhile, energy consumption growth in the OECD stopped in 2008 with the global economic crisis, and total final consumption is oscillating around a plateau of just over 3,500 Mtoe or 38% of global TFC. Middle East With energy production more than 2.5 times as large as demand, the Middle East has the highest energy self-sufficiency ratio in the world. The region produced nearly 15% of global energy in 2016, an increase from just over 13% for the previous five years. The Middle East produced 34% of global oil, and nearly 17% of the world’s gas. Natural gas is developing rapidly in the region, used for power generation and the petrochemical sector. This has resulted in the share of oil in electricity production continuing to shrink, falling from 54% in 1971 to 28% in 2016. OECD Africa on Americas on roe and rasia iddle ast ther il atral gas Issue 6 6 Kuwait’s financial future: A view from the IIF “We expect the current account and fiscal balances (including investment income) to remain in surpluses over the next three years if oil prices stay above $60 per barrel.” Kuwait Finance Minister Dr. Nayef Al-Hajraf during the press conference announcing the country's fiscal budget for 2019-2020. Interview by Jamie Etheridge Kuwait’s economic future will depend in large part on its ability to diversify its revenue streams, attract foreign investment and grow its private sector. To understand better the challenges Kuwait faces, The Investor spoke with Dr Garbis Iradian, Chief Economist for MENA at the Institute of International Finance for his take on where Kuwait’s economy is heading.
Load more

Recommended publications
  • On the Role of Oil in the Growth Process of the Arab Gulf
    Master’s Degree in Global Development and Entrepreneurship Final Thesis On the role of oil in the growth process of the Arab Gulf Supervisor Ch. Prof. Antonio Paradiso Graduand Sara Idda 853857 Academic Year 2018 / 2019 2 On the role of oil in the growth process of the Arab Gulf 3 A mia mamma e mio papà, che mi hanno insegnato ad essere forte nel rialzarmi dopo ogni caduta, ad avere il coraggio di vincere ogni sfida, dedico questo mio traguardo! Acknowledgments First of all, I would like to thank Professor Antonio Paradiso, the supervisor of my thesis, for his great availability and professionalism in these months of work and for always encouraging me; I also thank Prof. Silvia Vianello who has been a strong inspiration for me and a source of valuable advice. 4 Summary Introduction .................................................................................................................................. 9 1. Macroeconomic overview with some background about countries under-study: United Arab Emirates, Saudi Arabia, Kuwait. .................................................................................................. 11 1.1 UNITED ARAB EMIRATES: A brief focus on the principal points deal with ....................... 11 1.1.1 Some background of United Arab Emirates ............................................................... 12 1.1.2 The discovery of black gold ........................................................................................ 13 1.1.3 From the new oil boom to the Arab revolts of 2011 ................................................
    [Show full text]
  • Changing Sea-Level Along the North Coast of Kuwait Bay
    Durham E-Theses Changing sea-level along the north coast of Kuwait bay Al-Asfour, Taiba Abdulmuhsen How to cite: Al-Asfour, Taiba Abdulmuhsen (1975) Changing sea-level along the north coast of Kuwait bay, Durham theses, Durham University. Available at Durham E-Theses Online: http://etheses.dur.ac.uk/8119/ Use policy The full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that: • a full bibliographic reference is made to the original source • a link is made to the metadata record in Durham E-Theses • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders. Please consult the full Durham E-Theses policy for further details. Academic Support Oce, Durham University, University Oce, Old Elvet, Durham DH1 3HP e-mail: [email protected] Tel: +44 0191 334 6107 http://etheses.dur.ac.uk CHANGING SEA-LEVEL ALONG THE NORTH COAST OF KUWAIT BAY by Taiba Abdulmuhsen Al-Asfour B.A. (Cairo) A thesis submitted for the degree of Doctor of Philosophy in the Department of Geography; at the University of Durham 1975 I I TO MY PARENTS i ABSTRACT Field investigations have been carried out to study the changes of sea level-along the north coast of Kuwait Bay. Four zones have been studied in detail viz: Kathma, Ghidhai, Mudairah and Al-Bahra.
    [Show full text]
  • Changing a System from Within: Applying the Theory
    CHANGING A SYSTEM FROM WITHIN: APPLYING THE THEORY OF COMMUNICATIVE ACTION FOR FUNDAMENTAL POLICY CHANGES IN KUWAIT A Dissertation Submitted to the Temple University Graduate Board In Partial Fulfillment of the Requirements for the Degree DOCTOR OF PHILOSOPHY by Nasser Almujaibel May 10, 2018 Examining Committee Members: Dr. Nancy Morris, Advisory Chair, MSP / Media and Communication Dr. Brian Creech, Journalism. Media & Communication Dr. Wazhmah Osman, MSP/ Media & Communication Dr. Sean L. Yom, External Member, Political Science ABSTRACT Political legitimacy is a fundamental problem in the modern state. According to Habermas (1973), current legitimation methods are losing the sufficiency needed to support political systems and decisions. In response, Habermas (1987) developed the theory of communicative action as a new method for establishing political legitimacy. The current study applies the communicative action theory to Kuwait’s current political transformation. This study addresses the nature of the foundation of Kuwait, the regional situation, the internal political context, and the current economic challenges. The specific political transformation examined in this study is a national development project known as Vision of 2035 supported by the Amir as the head of the state. The project aims to develop a third of Kuwait’s land and five islands as special economic zones (SEZ). The project requires new legislation that would fundamentally change the political and economic identity of the country. The study applies the communicative action theory in order to achieve a mutual understanding between different groups in Kuwait regarding the project’s features and the legislation required to achieve them. ii DEDICATION ﻟﻠﺤﺎﻟﻤﯿﻦ ﻗﺒﻞ اﻟﻨﻮم ... اﻟﻌﺎﻣﻠﯿﻦ ﺑﻌﺪه iii ACKNOWLEDGEMENTS To my parents, my wife Aminah, and my children Lulwa, Bader, and Zaina: Your smiles made this journey easier every day.
    [Show full text]
  • Ruling Families and Business Elites in the Gulf Monarchies: Ever Closer? Ruling Families and Business Elites in the Gulf Monarchies: Ever Closer?
    Research Paper Mehran Kamrava, Gerd Nonneman, Anastasia Nosova and Marc Valeri Middle East and North Africa Programme | November 2016 Ruling Families and Business Elites in the Gulf Monarchies: Ever Closer? Ruling Families and Business Elites in the Gulf Monarchies: Ever Closer? Summary • The pre-eminent role of nationalized oil and gas resources in the six Gulf monarchies has resulted in a private sector that is highly dependent on the state. This has crucial implications for economic and political reform prospects. • All the ruling families – from a variety of starting points – have themselves moved much more extensively into business activities over the past two decades. • Meanwhile, the traditional business elites’ socio-political autonomy from the ruling families (and thus the state) has diminished throughout the Gulf region – albeit again from different starting points and to different degrees today. • The business elites’ priority interest in securing and preserving benefits from the rentier state has led them to reinforce their role of supporter of the incumbent regimes and ruling families. In essence, to the extent that business elites in the Gulf engage in policy debate, it tends to be to protect their own privileges. This has been particularly evident since the 2011 Arab uprisings. • The overwhelming dependence of these business elites on the state for revenues and contracts, and the state’s key role in the economy – through ruling family members’ personal involvement in business as well as the state’s dominant ownership of stocks in listed companies – means that the distinction between business and political elites in the Gulf monarchies has become increasingly blurred.
    [Show full text]
  • Forklifts & Boom Lifts Lifts & Escalators Quarrying Railways Lighting
    Reg No. 1 GC 027 • VOL 41 • No. 06 • June 2020 • BD3.5 | KD3 | RO3.5 | QR35 | SR35 | Dh35 www.gulfconstructiononline.com Forklifts & Boom Lifts Lifts & Escalators Quarrying Railways Lighting KUWAIT gulfconstructiononline.com Kuwait means halted progress completely, confirms a top official at a leading international mul- WAITING FOR VISION tidisciplinary firm based in Kuwait. “Like every other sector and industry, the construction sector now finds itself grap- TO MATERIALISE pling with a changed world, where projec- tions have been lowered, spending has been downsized and the project pipeline seems The health crisis created by the novel coronavirus and the record a little less robust,” Tarek Shuaib, CEO of low prices of oil have added to the manifold issues that Kuwait has Pace, tells Gulf Construction. faced over the years. However, given its significant sovereign wealth The Covid-19 pandemic has served a reserves, experts believe Kuwait will weather the storms well. double whammy to Kuwait, which is still hugely dependent on oil revenues, with oil prices having recently dropped to historic lows, and the resultant dive in business confidence. Since Kuwait instituted lock- downs to reduce the spread of the Covid-19 virus last March, around 39 per cent of businesses in the construction, contract- ing, architecture sector have shut down operations, revealed a busi- ness impact survey published by Bensirri PR (BPR), an independ- ent corporate, financial and polit- ical communications firm based in Kuwait. Nearly 31 per cent saw revenue drop by more than 80 per cent but were still operating when the sur- vey was conducted.
    [Show full text]
  • The Boundary Dispute Between Kuwait and Iraq Has It Subsided?
    LEBANESE AMERICAN UNIVERSITY THE BOUNDARY DISPUTE BETWEEN KUWAIT AND IRAQ HAS IT SUBSIDED? By MAHA ALKENAEE A thesis Submitted in partial fulfillment of the requirements for the degree of Master of Arts in International Affairs School of Arts and Sciences August 2011 L E B A N E S E A M E R I C A N U NIVERSITY School of Arts and Sciences - Beirut Campus Thesis Approval Form Student Name: Maha Alkenaee I.D. #: 200400150 Thesis Title The Boundary Dispute Between Kuwait and Iraq Has it Subsided? Program : Master of Arts in International Affairs Department : Social Sciences School : School of Arts and Sciences ii iii iv ACKNOWLEDGMENTS This research would not have been possible without the help and assistance of many persons. I would like to express my gratitude to my supervisor Dr. Sami Baroudi who has been a great support throughout all stages of my postgraduate studies. I am also deeply grateful to all of my professors in the Lebanese American University from whom I have learned an abundant amount of knowledge. v To my loving family vi THE BOUNDARY DISPUTE BETWEEN KUWAIT AND IRAQ HAS IT SUBSIDED? Maha Kenaee Abstract This thesis attempts three related tasks. First, it surveys the historic record which provides uncontestable evidence that Kuwait was never part of the Ottoman Empire and thus never formed a single administrative or political unit with Iraq or part of it. Second, it traces the turbulent history of Kuwait‟s relationship with Iraq ever since the latter achieved independence in 1932; arguing that this turbulent relationship invited the intervention of regional and international players due to the strategic importance of Kuwait, especially since the discovery of oil.
    [Show full text]
  • China's Relations with the Arab and Gulf States
    27 March 2020 China's relations with the Arab and Gulf States Author: COL Saud AlHasawi, KWT Army, CSAG CCJ5 The opinions and conclusions expressed herein are those of a number of international officers within the Combined Strategic Analysis Group (CSAG) and do not necessarily reflect the views of United States Central Command, nor of the nations represented within the CSAG or any other governmental agency. Key Points China has significantly increased its economic, political, and (marginally) security footprint in the Middle East in the past decade, becoming the biggest trade partner and external investor for many Arab and Gulf countries in the Central region. China still has a limited appetite for challenging the US-led security architecture in the Middle East or playing a significant role in regional politics. Yet the country’s growing economic presence is likely to pull it into wider engagement with the region in ways that could significantly affect US interests. The US should monitor China’s growing influence on regional stability and political dynamics, especially in relation to sensitive issues such as surveillance technology and arms sales. The US should seek opportunities for cooperative engagement with China in the Middle East, aiming to influence its economic role on constructive and security/stability initiatives. Background Information Although distant neighbors, China and the Arab countries have a rather ancient relationship that dates back to the first centuries of the Common Era, long before the advent of Islam. Nonetheless, until the end of the Twentieth Century, China and the Arab States only had a very limited trade relationship (spices, textiles etc).
    [Show full text]
  • Waterway Stand-Off Revives Iraq-Kuwait Border Dispute More of the Same in Iraq Nazli Tarzi Tallha Abdulrazaq P2 London
    Abdulrahman al-Masri, Tom Regan, Elissa Miller, Hashem Osseiran, Oumayma Omar, Yavuz Baydar, Ahmad Abou Douh, Gregory Aftandilian, Thomas Seibert, Marwa al-A’sar Issue 93, Year 2 www.thearabweekly.com UK £2/ EU €2.50 February 12, 2017 Sisi at Interview Iran’s odds with Arab League’s missile al-Azhar assistant threats secretary-general P9P4 P13 P15 Economics key to stability in Libya Mustafa Salheen el-Huni P12 Waterway stand-off revives Iraq-Kuwait border dispute More of the same in Iraq Nazli Tarzi Tallha Abdulrazaq P2 London long-dormant dispute over the narrow water- way that separates Iraq Jordan’s troubled and Kuwait has resur- faced, reviving a disa- greementA that dates to before Iraq’s relationship with its 1990 invasion of its neighbour. mosques Political tensions over the Khor Mamoon Alabbasi P8 Abdullah estuary came to a head during an Iraqi parliamentary ses- sion, in which lawmakers assailed the state over territory ceded to Kuwait. Two years after Iraq accepted a Playing with fire UN-sponsored ceasefire, a com- mission was appointed by the UN Salem el-Kotobi P6 Security Council to demarcate the border between the warring coun- tries. Describing the commission’s re- sponsibility, Iraq’s former Trans- port minister Amer Abd al-Jabbar, Will Yemen’s Saleh in a leaked interview, said “this was the first time in Security Coun- drop Houthis? cil history that borders were re- Saleh Baidhani P5 drawn”. Protesters wave national flags as they chant slogans against the demarcation of the border agreement He questioned why Kuwait, be- with Kuwait in Basra, on January 31st.
    [Show full text]
  • Building the New Kuwait Vision 2035 and The
    Middle East Centre BUILDING THE NEW KUWAIT VISION 2035 AND THE CHALLENGE OF DIVERSIFICATION Sophie Olver-Ellis LSE Middle East Centre Paper Series | 2830 | DecemberJanuary 2020 2019 About the Middle East Centre The Middle East Centre builds on LSE’s long engagement with the Middle East and provides a central hub for the wide range of research on the region carried out at LSE. The Middle East Centre aims to enhance understanding and develop rigorous research on the societies, economies, polities and international relations of the region. The Centre promotes both special- ised knowledge and public understanding of this crucial area, and has outstanding strengths in interdisciplinary research and in regional expertise. As one of the world’s leading social science institutions, LSE comprises departments covering all branches of the social sciences. The Middle East Centre harnesses this expertise to promote innova- tive research and training on the region. About the Kuwait Programme The Kuwait Programme is a world-leading hub for research and expertise on Kuwait. It is the main conduit through which research on Kuwait at LSE is facilitated, expanded and pro- moted. The Programme is directed by Kuwait Professor Toby Dodge, and is based in the LSE Middle East Centre. The Kuwait Programme is funded by the Kuwait Foundation for the Advancement of Sciences. Middle East Centre Building the New Kuwait: Vision 2035 and the Challenge of Diversification Sophie Olver-Ellis LSE Middle East Centre Paper Series | 30 January 2020 About the Author Abstract Dr Sophie Olver-Ellis is a compara- Against the backdrop of global oil price tive political economist researching the volatility, increasing budget deficits and transforming political economies of the a burgeoning unemployed youth popu- Gulf region, with particular interest in lation, Kuwait has decided to redesign labour market governance and post-oil its national political economy.
    [Show full text]
  • Popular Rentierism and Tourism Development in Kuwait CODY PARIS School of Law Middlesex University Dubai
    University of Massachusetts Amherst ScholarWorks@UMass Amherst Travel and Tourism Research Association: 2013 ttra International Conference Advancing Tourism Research Globally Popular Rentierism and Tourism Development in Kuwait CODY PARIS School of Law Middlesex University Dubai SIMON RUBIN Follow this and additional works at: https://scholarworks.umass.edu/ttra PARIS, CODY and RUBIN, SIMON, "Popular Rentierism and Tourism Development in Kuwait" (2016). Travel and Tourism Research Association: Advancing Tourism Research Globally. 12. https://scholarworks.umass.edu/ttra/2013/AcademicPapers_Visual/12 This Event is brought to you for free and open access by ScholarWorks@UMass Amherst. It has been accepted for inclusion in Travel and Tourism Research Association: Advancing Tourism Research Globally by an authorized administrator of ScholarWorks@UMass Amherst. For more information, please contact [email protected]. Popular Rentierism and Tourism Development in Kuwait Cody Morris Paris School of Law Middlesex University Dubai and Simon Rubin Freelance Tourism Researcher ABSTRACT The purpose of this paper is to explore the challenges facing tourism development in Kuwait due to the particularly unique political-economic system of ‘popular’ rentierism. Kuwait’s tourism industry is relatively underdeveloped in comparison to other GCC countries and has not received much attention in the academic tourism literature. While insights of from this study will be useful for understanding the role of tourism in the rentier economies, this paper will also help to further theorize tourism within the field of political science and international political economy. This study provides both a macro-level analysis of the political economic obstacles to tourism development in Kuwait and the more micro-level challenges that have resulted, particularly in relation to mega-development projects, such as the $3.3 billion dollar Failaka Island development.
    [Show full text]
  • Investing in Kuwait: a Guide for Investment Opportunities in Kuwait CONTENTS
    Investing in Kuwait: A guide for Investment Opportunities in Kuwait CONTENTS Preface 1 2.3 IndustrIal, oIl and gas, 24 2.8 b ankIng, fInancIal 39 downstream chemIcal servIces and Insurance Kuwait at a Glance 2 manufacturIng - Private equity 40 1. why Kuwait? 3 - Asset management 41 2.4 e ducatIon and traInIng 25 - Direct sales agent 42 2. Sector 10 - Tertiary education 26 oPPortunitieS - Institutes and training centers 27 2.9 aIr, marItIme and raIl 43 passenger transport 2.1 Infrastructure 12 2.5 healthcare 28 - Airport facilities management 44 - Power plant- Fuel based 13 - Specialty hospitals 29 - Rail facilities management 45 - Power plant - Renewable 14 - Lifestyle medical clinics 30 - Desalination plant 15 2.10 t ourIsm, hotel and 46 2.6 Integrated housIng 31 - Funding - Project finance 16 entertaInment projects and urban - Marine transport 17 - Branded theme park 47 development infrastructure - Budget hotels 48 - Development planning for 32 - Rail transport infrastructure 18 integrated housing projects 2.11 It and software 49 2.2 envIronmental servIces 19 - Property management 33 development - Solid waste management 20 - Facilities management 34 - Web and application 50 - Primary sewage treatment 21 - Construction contracting 35 development - Oil and effluent sludge 22 2.7 s torage and logIstIcs 2.12 c ulture, medIa and treatment servIces 36 marketIng 51 - Waste recycling 23 - Logistics 37 - Digital media marketing 52 - Warehousing 38 - Digital content creation 53 - Application stores and 54 online portals 3. SerVicinG local and 55 appendIx 7: 88 foreiGn inVeStorS Glossary 4. aPPendiceS 61 appendIx 8: 89 appendIx 1: 62 Kuwait’s Bilateral Investment Law No.
    [Show full text]
  • International Court of Justice Case Concerning Oil
    INTERNATIONAL COURT OF JUSTICE CASE CONCERNING OIL PLATFOMS (ZSLAMIC REPUBLIC OF IRAN V. UNITED STATES OF AMERICA) - COUNTER-MEMOIUAL AND COUNTER-CLAM m.-- - SUBMITTED BY THE UNITED STATES OF AMERiCA TABLE OF CONTENTS INTRODUCTION AND SUMMARY PART 1. STATEMENT OF FACT CHAPTER 1. AN OVERVIEW OF THE "TANKER WAR" CHAPTER II. IRAN'S ATTACKS ON MERCHANT SHIPPING Section 1. The Flagging of Kuwaiti Tankers Under U.S. Registry and the Launch of Operation Earnest Will by the United States Section 2. Iran's Response to the Reflagging of Kuwaiti Vessels; Iran's First Attack on U.S.-flag Shipping -- the Miing of the Oil Tanker Bridgeton A. The Mining of Kuwaiti Waters B. The Mining of the US.-flag Bridgeron Section 3. Iranian Mining Activities Continue; Hostile Encounters Between U.S. and Iranian Forces A. lranian Forces Mine Waters Off the Coast of Fujayrah, Near the Entrance to the Persian Gulf B. September 1987: U.S. Forces Capture an Iranian Vessel Caught in the Act of Laying Mines in International Waters, and Find Nurnerous Mines on Deck; the Mines Found on the Iranian Vessel Matched Mines Laid Elsewhere in the Gulf C. October 1987: Iranian Vessels and the Roçtam Oil Platfom Fire Upon U.S. Helicopters CHAPTER III. THE EVENTS SURROUNDING IRAN'S 15 OCTOBER MISSILE ATTACK ON THE TANKER SUNGARl Ah'D IRAN'S 16 OCTOBER 1987 MISSILE ATTACK ON THE U.S.-FLAG TANKER SEA ISLE CITY Section 1. Iranian Forces in the Faw Area Launched a Series of Missile Attacks on Kuwaiti Temto~in the Months and Days Preceding the Attack on the U.S.-flag Sea Isle City A.
    [Show full text]