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FINANCIAL NEWS
Kuwait vows to invest USD106b over next 3y
15 Jul 2016
(MENAFN) Unlike prior investment initiatives, Kuwait has been implementing a strategic Development Plan whose aim is to develop infrastructure across a number of divisions through the wide use of the public-private partnership (PPP).
The Growth Plan the country is working hard to implement is mainly seeking to boost total investment, promising to spend USD106 billion between this year and 2019, plus the pace of operation of the plan’s projects is critical to the country.
The (PPP) framework in the current plan is intended to extend the contribution of the private sector to the country’s economic development and to spur private sector job creation, among many other benefits which will be achieved.
Once fully operated, these projects could conservatively add USD3.3 billion per year to capital spending, hence boosting, by themselves, real GDP growth by almost 2%, which reflects exactly what’s the country ultimately aims for.
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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