Kuwait Joins Post-Oil Push But Warns It May Be Slower Than Saudi Arabia
- Economic zones to serve as regional hub: emir’s eldest son
- Kuwait seeking foreign investments to diversify economy
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The eldest son of Kuwait’s ruler said the OPEC member is revisiting plans to transform itself into a regional business hub, as authorities aim to overcome past obstacles to join neighbors seeking to overhaul their oil-dependent economies.
Sheikh Nasser Sabah Al-Ahmad Al-Sabah said in an interview the focus will be on northern regions, where developments could serve neighboring Iraq as it seeks to recover from conflict, and even Iran. The proposals include a new city, an international stock exchange, hotels and resorts, and a new refinery.