Kuwait licenses three construction firms as foreign investment grows
Turkish companies granted new licenses are working on the international airport's new terminal
Three Turkish companies have been granted licenses to invest in Kuwait, and the firms are now working on construction projects in the Arab country, particularly the new terminal that is currently being built for Kuwait International Airport, the country’s Minister of Commerce and Industry, Khaled Al-Roudhan, revealed.
Al-Roudhan mentioned these details whilst addressing the Bosphorus Summit in Turkey's cultural capital, Istanbul. The minister said Kuwait has attracted multibillion-dollar foreign investments, and that the country has “set out an all-out strategy to promote and stimulate economic development”, according to a report by Kuwaiti daily Arab Times Online.
The names of the three Turkish companies were not revealed during Al-Roudhan’s address, but businesses from the country are already involved with major Kuwaiti developments. This list includes contractor Limak, which is helping to build the new terminal of Kuwait International Airport.
Al-Roudhan said the government’s New Kuwait 2035 vision would spur the country into becoming “a commercial and financial hub”, the report added.
Kuwait International Airport’s expansion is a high-profile scheme that has attracted top companies from the regional and international construction industries. Mammoet is delivering heavy lifting services for the project, and ACTS is overseeing quality control and testing operations. Other organisations involved with the project include Dar SSH, Arup Group, KEO, and Assent, according to ProTenders page.
New Kuwait 2035 is the Gulf country’s mandate to pursue economic diversification and secure future growth, explained Talal Al-Shammari, assistant secretary general for construction and development support at Kuwait’s General Secretariat of the Supreme Council for Planning and Development, whilst speaking at Construction Week’s Leaders in Construction Summit Kuwait 2018 this October.
“Essentially, the country’s long-term development plan aims to transform Kuwait into a financial and trade centre that is attractive to investors, in which the private sector leads economic activity, promotes competitiveness, and increases production efficiency with the support of institutionalised governance,” Al-Shammari said during his keynote speech.