Kuwait to cut dependency on oil revenues for growth

Bangalore, Jan 18 (IANS) Kuwait has begun implementing ambitious programmes to diversify its sources of income and minimize dependency on oil revenues, a top official said here Thursday.

Addressing a session on the “Gulf & Middle East” at the CII Partnership Summit, Kuwaiti Minister Of Trade & Industry Falah Fahad Mohammad Al-Hajri said the private sector had been invited to invest in areas like manufacturing, petrochemicals, food processing, and construction materials to increase their contribution to the country’s GDP.

“We are diversifying in a big way towards non-petroleum sectors to generate multiple sources of income instead of depending solely on oil revenues for economic development,” Al-Hajri told about 500 delegates who attended the session.
Indian Muslims