Kuwait: A Daring Plan?

Kuwait is fleshing out a bold development plan to shift the focus of the country's economy away from oil and towards diversified activity centred around trade and the financial sector. Despite its ambitious goals, there is some doubt as to whether the plan will be able to compete with similar programmes already established in the Gulf region. Though officials have said details of the $131.5bn plan have yet to be finalised and some of the deadlines are still under review, the broad scope of the scheme has taken shape. The government is looking to fund some 1100 projects, including the construction of a city devoted to financial activity; road, rail and sea infrastructure; and health, housing and education developments. The aim of the programme, according to officials, is to bolster gross domestic product (GDP), diversify... [read full story]