The first panel at the Investment Conference 2024 hosted by Kamco Invest and @BurganBankChannel. The panel was moderated by Robert Willock, Director of the Economist Intelligence Corporate Network for the MENA region, and panelists included Farouk Bastaki, Independent Board Member at NBK & Mabanee, and Kamel Al Harami, Independent Oil Analyst.

Farouk Bastaki highlighted the over dependence on oil revenues and higher expenditure that has resulted in deficits for the country. He stressed the importance of rationalizing expenses and spoke on the importance of introducing corporate taxes to cover government expenditures and in the process make life better for Kuwaitis and achieve sustainable economic growth.

Kamel Al Harami highlighted the importance of oil and oil products for the Kuwaiti economy and spoke about the new JVs in the sector signed recently. However, he stressed the importance of JVs in the sector within Kuwait and the need for privatization in the economy. There are several lucrative sectors for privatization. The country can retain core operations and open non-core for the private sector.

@TheEconomistIntelligenceUnit