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FINANCIAL NEWS
Kuwait bids free economic zone to boost economy
22 Apr 2016
(MENAFN) Kuwait plans to launch a free economic zone on five islands close to the shorelines of regional heavyweights Iraq and Iran with large investments open to the private sector, based on the available data.
Basically, the promising project is based on inviting local, regional and global private segments to finance, execute and operate the zone, plus it will be an economic gateway for the northern Gulf once finished.
Additionally, the new vital scheme which will spread over an area of several thousand square kilometers comes amidst a severe deterioration in oil income which contributes over 90 percent of Kuwait’s incomes.
Kuwait has awarded projects worth a record USD30bn so far this year in spite falling oil revenues, projects which include a metro system worth USD18.5bn, a railway as part of the GCC railway link at USD6.6bn and an USD8bn power plant.
More News
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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