The Kuwaiti Government Calls For Investments In Smart Technology And Digital Commerce

A recent government report from the National Observatory for Sustainable Development and Future Foresight highlights the importance of encouraging investors to support smart applications that enhance daily life and drive technological progress. The report emphasizes the need to capitalize on opportunities in digital commerce and e-commerce while addressing challenges related to new technologies such as data flows and electronic payments.

Based on Kuwait’s position in the Global Innovation Index 2023, the report outlines recommendations to promote innovation across various sectors. Key suggestions include establishing a virtual business incubator for emerging companies, increasing investment in scientific research and development, and promoting digital literacy among individuals and companies.

Additionally, the report underscores the importance of implementing innovation strategies in education, fostering partnerships among investors and innovators, and identifying future programs and needs to direct innovation and research efforts. It also emphasizes the significance of cultivating a culture of creativity and innovation and encouraging the development of AI applications.

While Kuwait excels in infrastructure, human capital, and market development, the report notes areas for improvement such as knowledge and technology outcomes and business development. Despite dropping two places globally in the Global Innovation Index for 2023, Kuwait maintains its fourth rank among Arab and Gulf countries, showcasing strengths in various indicators such as electricity production, access to information and communications technology, and market value.

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