Kuwait Roundtable: Looking to Recovery
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Kuwaiti banks provided crucial support through the Covid-19 crisis and will play just as important a role in nursing the nation back to full economic health. Top executives from seven of the nation’s leading financial institutions discuss the past year and look ahead to the future.
May 06, 2021
Global Finance: A year after the pandemic, Kuwait is still experiencing partial lockdowns, travel bans and mandatory institutional quarantining. Vaccines are becoming available but have not yet reached a large percentage of the population. How has the pandemic impacted Kuwait’s economy and banks? When do you anticipate recovery to take place in earnest? Which sectors of the economy will be permanently advantaged or damaged?
Adnoc is in the midst of delivering a 2030 strategy that involves significant capital expenditure. The company has a target of increasing capacity to 5 million barrels per day, from about 2.8 million bpd currently.
It is also planning substantial investment in downstream projects, including a new Ruwais Derivatives Park being developed jointly with state holding company ADQ that is building the infrastructure for a major chemicals hub.
Last year, the UAE s Supreme Petroleum Council approved Adnoc s Dh448bn investment programme over the next five years. In December, the company said it will expand its In-Country Value localisation programme, with a view to directing about Dh160bn back into the local economy.
Four parties cited that do not generate profits KUWAIT CITY, April 17: Minister of Finance and Minister of State for Economic and Investment Affairs Khalifa Hamadah revealed that there are three government agencies - the Kuwait Petroleum Corporation (KPC), the Public Authority for Communications
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