Kuwait's Minister of Commerce and Industry, Khalifa Al-Ajeel, announced on Wednesday that the government is implementing ambitious economic policies aimed at restructuring the national economy, achieving diversification, improving the business environment, expanding participation, and enhancing state financial management efficiency.

The minister made these remarks during his opening speech at the "Kuwait's New Economic Strategy 2025" conference, organized by the Foreign Direct Investment Promotion Agency in collaboration with The Business Year group. The one-day event brought together top economic leaders and decision-makers from various sectors in Kuwait and abroad.

Key Economic Reforms:

• Public Debt Law: Rationalizing financing tools and supporting fiscal sustainability

• Real Estate Developer Law: Expected to transform real estate, banking, and investment sectors

• Digital Initiatives: Including the Smart License system and Office License Integration program

• Companies Law Amendments: Streamlining business operations

Al-Ajeel highlighted that these reforms have already contributed to 4% growth in non-oil GDP sectors, marking tangible progress in income diversification. "We're seeing foreign direct investment increase by 20% year-on-year, particularly in technology, renewable energy, and infrastructure," he noted.

Strategic Mega-Projects:

• Al-Zour Refinery

• Mubarak Al-Kabeer Port

• National Railway Project

• Smart City Developments

The minister emphasized that these projects are establishing Kuwait as an innovation-driven, diversified economy with strong public-private partnerships.

Leadership Vision:
Al-Ajeel stressed that Kuwait's economic policies are guided by the vision of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, who has emphasized the historic responsibility to build:

• A resilient, knowledge-based economy

• Private sector-led growth

• Regional economic leadership

Conference Focus Areas:

1. Reviving stalled projects and accelerating major developments

2. Enhancing FDI through political stability and incentive-based legislation

3. Industrial diversification and renewable energy expansion

4. Kuwait Vision 2035 and 2040 Structural Plan implementation

"The challenge isn't setting ambitions, but making them reality through public-private collaboration," Al-Ajeel concluded, expressing confidence in Kuwait's transition to a modern economic model that prioritizes human capital development.