Kuwait’s Vision 2035 places a strong emphasis on infrastructure development, leading to increased demand for advancements in the country’s national infrastructure. KPMG, a prominent audit and advisory services group, highlights Kuwait’s robust pipeline of infrastructure projects valued at an estimated $27.6 billion in the bidding stage. This significant pipeline sets an optimistic tone for the sector, according to KPMG’s report titled “The Kuwait Perspective,” which draws insights from the influential publication “Emerging Trends in Infrastructure.”
Imran Shaik, Director for Deal Advisory and Head of Infrastructure Services at KPMG in Kuwait, acknowledges a temporary slowdown in project awards and implementation but emphasizes the prevailing positive sentiment in the sector. The report underscores the potential long-term benefits of public-private partnerships (PPPs) and calls for increased attention to this approach.
Recognizing the importance of digital transformation, Kuwait’s government aims to enhance investment timelines, resource commitments, and attract more capital to the sector.
The Kuwait edition of the global report features interviews with key personalities from Kuwait’s infrastructure sector, offering valuable insights to make the publication more insightful. Notable interviewees include representatives from National Bank of Kuwait, Umm Al Hayman for Wastewater Treatment Company, City Group Company, AVIC INTL, and China State Construction Engineering Corporation.
As Kuwait looks to PPPs to drive progress in the sector, Hassan F. Choudhry, Chief Financial Officer at Umm Al Hayman for Wastewater Treatment Company, expresses confidence in Kuwait’s market, stating that PPP projects can yield significant overall efficiencies and economic benefits for the country. With an increasing pipeline of PPP projects, Kuwait is on track to compete with other economies in the region.
Considering Kuwait’s commitment to achieving net-zero greenhouse gas emissions by 2060, the report highlights the leading role played by oil and gas companies and financial service-based organizations as early adopters of sustainable practices. Financial institutions in Kuwait have aligned themselves with the nation’s carbon neutrality goals, formulating sustainable financing policies that enhance funding opportunities for sustainable infrastructure projects.
Additionally, the report identifies the potential of mobility-as-a-service (MaaS) to offer cost-competitive and convenient solutions for public transportation, particularly for addressing the last mile of customer journeys. Dr. Dheeraj Bhardwaj, Group CEO for City Group Company, emphasizes the need for an end-to-end mobility solution accessible through a mobile app, highlighting MaaS as an ecosystem that simplifies transportation by integrating various modes of travel on a single platform.
Recognizing the importance of digital transformation, Kuwait’s government aims to enhance investment timelines, resource commitments, and attract more capital to the sector. This comprehensive transformation will drive advancements in Kuwait’s infrastructure landscape, aligning with the country’s long-term vision and development goals.