Oxford Business Group to launch first Emerging Kuwait 2006

"Our vision is to develop Kuwait as a regional financial and commercial centre, and we envisage an active role for the private sector in achieving this goal," he said.

"The government has taken major steps by opening up business opportunities and economic sectors, such as the banking sector, to local and foreign private investors. It is also formulating new policies to encourage the private sector to employ Kuwaiti nationals. To match this demand, we are developing our educational system to meet the private sector's requirements."

He adds that the government is offering opportunities for Kuwaitis by expanding its services in higher education, and by building a new integrated and fully equipped campus for Kuwait University and the Public Authority of Applied Education and Training.

"We believe education policy is a dynamic process where we continuously need to upgrade and develop to meet the local needs of the private sector and meet international standards," he added.

"The government, through the private university law, has also allowed the private sector to participate in providing a wide range of higher education programmes."

Sheikh Sabah's private sector outlook is featured in the first Emerging Kuwait 2006 series, which was produced by OBG in partnership with Global Investment House (Global), one of the prime investment companies in the GCC. It provides comprehensive overviews and analysis of the country's political and macroeconomic environment, as well as trends in all the major economic sectors, including banking, capital markets, insurance, I.T. and telecom, real estate and construction, tourism, energy and media.

"Kuwait has only recently been able to revive itself and rethink its future and the past few years have been exceptionally good for the economy," said Andrew Jeffreys, Editor-in-Chief of OBG's Emerging Market series.

"With the Kuwait government committed to progressive change, Kuwait's economic growth in 2005 has set a new record. With oil prices on the high and heavy investment in the stock market and real estate, Kuwait is enjoying its strongest GDP growth in 15 years. Its role as a major gateway for business in Iraq will further drive the economy."

Emerging Kuwait 2006 will be launched on 2 May at the Sheraton Hotel and will be attended by over 500 of the country's top business people, which include H.E. Dr. Yousef Al-Zalzalah, Kuwait's Minister of Commerce & Industry and Maha Al-Ghunaim, Vice Chairman & Managing Director, Global Investment House.

The 208-page weighty and authoritative publication also includes interviews with Sheikh Salem Abdul-Aziz al-Saud Al Sabah, Governor of the Central Bank of Kuwait, Jassar al-Jassar, General Manager of Kuwait Finance House and Minister of Energy Sheikh Ahmad Fahad Al Sabah.

The series also caters to the international business community through 'The Business Guide' section which provides an assessment of the legal and accountancy regulations pertaining to foreign investment.