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Kuwait Direct Investment Promotion Authority (KDIPA) was established in 2013. It is a governmental organization that advances economic diversification , growth, and Kuwait's global competitiveness. It was established in alignment with Kuwait's goal of diminishing its dependence on oil-generated revenues and broadening its economic base.
Souq Al-Mubarakiya is a historic souq in Kuwait City, Kuwait. [1] It is one of the oldest souqs in Kuwait, and was a center of trade prior to the discovery of oil. This popular traditional market is located in Kuwait City, between Abdullah Al-Mubarak, Abdullah Al-Salem & Palestine Streets. This market has been around for at least 200 years.
On April 24, 2016, the Kuwait Stock Exchange became fully operated by a private company and its name changed to Boursa Kuwait, making it the only stock exchange in the Middle East owned by the private sector. [4] [5] [6] On September 14, 2020, the Boursa Kuwait Securities Co. was listed on Boursa Kuwait, [7] becoming a self-listed exchange. [8]
The Al-Manakh market was housed in an air-conditioned parking garage in the historic area of Jibla, Kuwait City. The market was specialized in highly speculative and unregulated non-Kuwaiti companies. [1] At its peak, its market capitalization was the third highest in the world, behind only the U.S. and Japan, and ahead of the U.K. and France.
The 9 main goals in Kuwait Vision 2035 are: The establishment of a private global economic region [2] General privatization [3] The promotion of a dynamic private sector [4] The promotion of local and organization talents [5] The development of a transparent and interlinked government [6] The construction of coherent infrastructure [7]
CityCentre has two hypermarkets in Kuwait, in Shuwaikh and Salmiya. [27] Carrefour has one hypermarket at The Avenues, in Shuwaikh, a few minutes out of downtown Kuwait City. Lulu Hypermarket is the biggest hypermarket chain in GCC, and operates six outlets in Kuwait in Al Rai, Al Qurain, Al Dajeej, Salmiya, Egaila and Fahaheel.
Kuwait was the world's biggest exporter of sulfonated, nitrated and nitrosated hydrocarbons in 2019. [121] Kuwait was ranked 63rd out of 157 countries in the 2019 Economic Complexity Index (ECI). [121] Iraq was Kuwait's leading export market in 2019 and food/agricultural products accounted for 94.2% of total export commodities. [122]
Comprising 70% of the retail trade in Kuwait, the legal basis for consumer cooperatives was established in 1962 with law No. 20.By the start of the 1980s, Kuwait's cooperative movement became open to Arab and international cooperative movements, and the Kuwaiti Union for Cooperative Societies sought membership in the International Cooperative Alliance as of March 1981.