Government reports and data reviewed by Al Jarida reveal that the distribution of spending across sectors represents 49% for oil and gas, 16% for logistics services, 8% for energy, 8% for building residential cities, 7% for education, 7% for health, and 5% for small and medium enterprises.
Reports confirm that the oil sector received the largest share of spending due to its vital role in the Kuwaiti economy, after the investment and banking sectors in terms of governance, as the management of this sector, which was characterized by complete professionalism, facilitated the completion of many major projects within the vision’s timeline. The overall goal of Kuwait Vision 2035 is to place Kuwait among the top 35% of countries in the world across 31 competitive indicators. These indicators include macroeconomic stability, labor market efficiency, e-participation, perception of corruption, and transportation infrastructure.
The vision calls for a strategic shift in the role of government from operator to regulator and monitor, thereby empowering the private sector to lead economic operations. This shift is particularly important given the many major economic projects planned, including the development of the Northern Region. The success of Kuwait Vision 2035 depends on several key elements such as institutions operating within a constitutional framework, infrastructure development in line with international standards, and strong government commitment. In addition, the vision is based on nine key pillars – building an international special economic zone, implementing a comprehensive privatization program, fostering a dynamic private sector and enhancing the capabilities of citizens and institutions. This is in addition to developing a cohesive and transparent government, building a cohesive infrastructure, creating environmentally harmonious living areas, promoting health and well-being for all, and ensuring effective participation in the global community. As Kuwait continues to implement its ambitious Vision 2035, these strategic projects and key elements are expected to significantly drive economic growth and development, positioning the country well on the global stage.
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