Kuwait approves 12-year industrial strategy

Kuwait approves 12-year industrial strategy

OPEC member Kuwait has approved a 12-year industrial strategy until 2035 with an emphasis on new projects.

In a report published on Sunday, the Arabic language daily Al-Qabas said Trade and Industry Minister Mohammed Al-Ayban endorsed the strategy which includes 48 industrial projects its first stage.

“This strategy will stimulate the industrial sector, ensure discipline and transparency, and speed up projects,” the Minister said after heading a meeting of Kuwait’s Public Authority for Industry on Sunday.

The Authority’s Director General Mohammed Al-Adwani said the strategy would impose strict terms on projects to ensure they meet standards, adding that 25 non-legal industrial permits granted in 2023 would be nullified.

(Writing by Nadim Kawach; Editing by Anoop Menon)

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