| Basic data | |
| Capital | Kuwait City |
| Population | 4.50 million (of which approx. 2/3 foreigners) |
| Language | Arabic (Official), English (Widely Spoken) |
| Religion | Islam (approx. 70%), Christianity (approx. 20%), other (10%) |
| State system | constitutional monarchy (emirate) |
| Head of State | Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah |
| Head of government | Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah |
| Currency name | Kuwaiti Dinar (KWD) |
| Travel | |
| Time shift | + 1 hour (summer); + 2 hours (winter) |
| Economy | 2021 |
| Nominal GDP (billion USD) | 300.6 |
| Economic growth (%) | 2.7 |
| Inflation (%) | 3.4 |
| Unemployment (%) | 3 |
Originally a British protectorate, Kuwait gained independence in 1961. The head of state is an Emir from the Al-Sabah family, who rules with the help of his ministers, an elected parliament and the Crown Prince Sheikh Meshaal Al-Ahamad Al-Jaber Al-Sabah. As one of countries that start with letter K according to Countryaah, Kuwaiti politics are greatly weakened by frequent parliamentary disputes and instability. As part of Kuwait’s vision of a “New Kuwait” until 2035, the so-called Kuwaitization of the country will continue, in which Kuwaiti citizens are favored in a number of areas, such as in obtaining lucrative jobs over immigrants. The pandemic contributed to this, as a result of which very strict restrictions were applied and thus there was a massive exodus of expats.
The country’s economy is based on the extraction, processing and export of oil and its derivatives. The COVID-19 pandemic has hit the Kuwaiti economy hard and its GDP has fallen by around 9%. However, since March 2021 there has been an economic recovery due to a resurgence in global oil prices. In 2022, the Kuwaiti economy is expected to be the fastest growing economy within the GCC countries. The economy is benefiting from high oil prices, which are expected to continue into next year. The pace of economic growth is then expected to slow down slightly in 2024-26 due to the stabilization of production volumes and oil prices. Thanks to the current recovery of the economy, there is talk again about the implementation of postponed strategic projects that are supposed to contribute to the diversification of the Kuwaiti economy according to the approved development plan New Kuwait 2035. The five-year development plan of Kuwait for the period 2020/21-2025/26 focuses on building the northern economic zone, including the “Silk City” mega-project and the Mubarak Al Kabeer port, estimated to be worth US$billion. These projects are considered crucial for the future development of Kuwait, as well as the necessary structural government reforms, the implementation of which is an elementary prerequisite for maintaining the competitiveness of the Kuwaiti economy in the long term.
Trade exchange between the Czech Republic and Kuwait for the year 2021 reached almost EUR 62 million, thus increasing by 22% year-on-year. Given that Kuwait is dependent on imports due to the lack of its own production, Czech exports to Kuwait represent approximately 92% of Czech-Kuwaiti trade. Czech exports are dominated by automobiles and parts, HVAC equipment, electrical equipment and components, construction machinery and materials, Czech crystal, foodstuffs, furniture, iron products, medicines and textiles. In the field of services, tourism to the Czech Republic occupies a prominent position, while the attraction for Kuwaitis is especially Czech spas, or medical rehabilitation stays. Czech goods have a chance of success on the Kuwaiti market if they are competitively priced, original and innovative (e.g. advanced technology or unique design). Sales must be accompanied by a top-notch marketing campaign. Prospective sectors are, for example, the energy industry, construction, defense industry, ICT, healthcare and pharmaceutical industry, agricultural technology and food industry. Business in Kuwait is firmly in the hands of established Kuwaiti business families who represent foreign companies in the country (the so-called “sponsorship system”). Kuwaiti agents or distributors are in charge of marketing and selling foreign products for a commission. For success in this Arab Muslim country, it is necessary to respect different cultural customs, different course of action, access to time and other specifics. Trade often takes place between related groups, depending on personal acquaintances and connections. The direct air connection introduced by Jazeera can contribute to the further development of mutual relations.
Practical telephone numbers (emergency services, police, firemen, information lines, etc.)
- 112 – emergency call – emergency (police, ambulance, fire brigade)
- 101 – Information Service – Kuwait State Administration
- 161 – airport 2242 2366,
- 2245 0005 – First Aid – Amiri Hospital
- 104 – weather information
Important web links and contacts
- Ministry of Foreign Affairs: www.mofa.gov.kw
- Ministry of Trade and Industry: www.moci.gov.kw
- Ministry of Finance: www.mof.gov.kw
- Ministry of Defense: www.mod.gov.kw
- Ministry of Education: www.moe.edu.kw
- Ministry of Health: www.moh.gov.kw
- Ministry of Planning: www.mop.gov.kw
- Ministry of Public Works: www.mpw.gov.kw
- Ministry of Petroleum: www.moo.gov.kw
- Ministry of Electricity, Renewable Energy and Water Resources: www.mew.gov.kw
- Government of Kuwait: www.baladia.gov/kw
- Kuwait Chamber of Commerce: www.ekcci.org.kw/newweb/
- Central Bank: www.cbk.gov.kw
- Central Agency for Public Tenders: www.capt.gov.kw
- National Bank of Kuwait: www.nbk.com
- Institute of Banking Studies: www.kibs.edu.kw
- Kuwait Investment Authority: www.kia.gov.kw/kia
- Kuwait University: www.kuniv.edu.kw
- Kuwait International Fair Co. (KIF): www.kif.net
- Kuwait Times (daily newspaper, English): news.kuwaittimes.net
- Arab Times (daily newspaper, English): www.arabtimesonline.com/arabtimes
- Kuwait News Agency: www.kuna.net.kw
The Kuwait Chamber of Commerce and Industry (KCCI) has a very important position, which is underlined by the regulation that only KCCI members can develop foreign business activities and can participate in local tenders. Representatives of the most influential business families (based on considerable autonomy from state authorities) alternate in the chamber’s board of directors. The Chamber has at its disposal basic information about registered companies, their capital, license validity, owners, etc., but also information of a general business nature.
Contact: Kuwait Chamber of Commerce and Industry POBox 775 Safat, 13008 Kuwait Tel: 2241-7825, 2243-3854 Fax: 2240-4110 Web: www.kuwaitchamber.org.kw
The Kuwait Investment Agency (KIA) is an autonomous government body responsible for the management and administration of the General Reserve Fund (GRF) and Future Generations Fund (FGF) assets, as well as other funds entrusted by the Minister of Finance and the Government. It is the oldest sovereign wealth fund in the world (founded in 1953) with an estimated capital of 730 billion USD, which ranks it 1st in the GCC countries and 3rd globally. KIA invests in the local, Arab and international markets, with its main office in Kuwait and branches in London and Shanghai. Contact: Kuwait Investment Authority – Sharq, Kuwait City, email: [email protected] website: www.kia.gov.kw/kia
