West Midland firms urged to target Kuwait for growth

WEST Midland companies have been encouraged to take part in ambitious plans to transform the economy of oil-rich Kuwait.

UK Trade & Investment is keen to link construction and development businesses with opportunities available in the kingdom as it looks to switch its reliance away from oil dependency.

A four-year development plan to improve the country’s infrastructure is worth around £93bn. It is one of the most ambitious plans in the whole region and is aimed at developing the kingdom as the leading trade and finance centre in the Middle East by 2035.

Chief among the projects is the redevelopment of Kuwait International Airport. The airport will increase in capacity from six million to 20 million passengers per annum. There will also be a new control centre, hotel and terminal.

There are also plans for the development of the Kuwait City Metro System, 171km long and with four lines. It will be funded as part of a public-private partnership.

The healthcare sector is also included. Health sector reform will allow for a private healthcare sector in Kuwait and construction of new hospitals and health centres.

The Kuwaiti authorities also plan a major upgrade of Boubyan Island Port, which will be a special economic zone and major sea port. As well as construction of the port and marine drilling, plans include a 33km three lane highway and railway linked to the mainland by a 1.5km road bridge and 9km rail bridge.

Trade Minister Lord Green said: “The UK has a fantastic reputation in Kuwait and the Kuwaitis see us as natural business partners.

“The creation of a UK-Kuwait Trade & Investment Task Force shows just how highly we value business between our countries.”

The Duke of York is acting as Trade Ambassador in the negotiations. He said: “It was abundantly clear after my visit to Kuwait in 2010 there were excellent opportunities for UK companies to contribute their expertise and products towards the rapid development of Kuwaiti infrastructure.

“I see this as a real opportunity to further develop our bilateral and business relationship and I am delighted to have the opportunity to contribute to building this very important business relationship.  I look forward to visiting Kuwait in the autumn, to continue to develop these discussions and opportunities.”