Financial Hub In The Gulf Region: Kuwait's Ambitious Plan

An Arab Gulf nation is keen on developing economic legislation to carry out vital projects that will eventually make the country a financial hub, a diplomat has said. As part of Kuwait's strategy, it encourages and promotes the private sector's contribution to infrastructure development, which is why a partnership program between the public and private sectors was established and an authority was established for this purpose, diplomatic attache Meteb Al-Enezi told a UN committee discussing global trade law. Public-private-partnerships (PPPs) are aimed at fostering innovation and competitiveness by taking advantage of the expertise of the private sector, said the authority's chairman. Al-Enezi said the authority announced a number of promising projects in energy, water, wastewater management, education, health, transportation, telecommunications, and real estate.

Laws
In order to develop trade and economic activities, the State of Kuwait seeks to develop cyber-related legislation. Kuwait seeks to implement an international financial, economic, and commercial system, and to enhance e-government services while exploring ways to combat cybercrime, citing the establishment of a cybersecurity agency. Kuwait, however, supports international cross-border laws to settle economic disputes worldwide, according to Al-Enezi.

 

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