KUWAIT: As Kuwait continues its reopening, now is an excellent time to peek behind the curtain and understand the steps taken to mitigate the effects of the COVID-19 pandemic. The Business Year’s latest special report, Kuwait: Resilience & Management in Times of Crisis, offers key insights from leading figures in Kuwait’s business community. The publication is the latest in an expanding portfolio of analysis of key trends and developments across emerging economies.
In every moment of chaos there follows new opportunities. Following the seismic impact caused by the arrival of COVID-19, Kuwait, and in particular its public and private sectors, are focusing their attention on how to maximize the new terrain and new horizons. COVID-19 has had two principal effects in Kuwait. First, the need to work and learn remotely has accelerated plans that might otherwise have taken years.
Second, a raft of stimulus packages from the government heralds the introduction of new modern taxes and indicates positive signs for the private sector. As a result of both, there has been an increase in investment opportunities in tech SMEs and digitally savvy firms as people begin to realize the potential of the digital economy. Discussions in these areas form the backbone of the interviews conducted for Special Report: Kuwait: Resilience and Management of the Crisis.
The Business Year is also seeking new avenues to continue the discussion in public forums. While physical conferences, summits, and events are at present off the agenda, The Business Year is looking to replicate the success of its last high-level business event, The Role of the Private Sector in the Future of the Kuwaiti Economy, held in London in June 2019 and organized in cooperation with KDIPA, in an online setting. Specifically, TBY plans to bring together leading financial firms from Kuwait to discuss where the country is now, the gains that have been made, and the opportunities on the horizon.
All of this is taking place a time of deep sorrow in Kuwait at the passing of late Amir HH Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, but also renewed optimism as His Highness the Amir Sheikh Nawaf Al-Ahmad Al-Sabah assumes the mantle. We wish His Highness great success as the new ruler of Kuwait.