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New financing law to boost investment and strengthen economy

Published

2 months ago

May 20, 2025

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KUWAIT: Undersecretary of the Ministry of Finance Aseel Al-Munifi affirmed on Monday that the recently enacted Law No 60 of 2025 on financing and liquidity aims to stimulate the economic environment, attract foreign investments and enhance developmental and economic returns for the state. The law, which came into effect on March 27, also seeks to bolster the banking sector and improve fiscal stability.

Speaking at an introductory conference on the new decree-law, Al-Munifi explained that the legislation equips the government with modern financial tools, enabling access to both local and international financial markets. These tools, she said, will help secure funding for key development projects. “The law will support the restructuring of government financing, reduce borrowing costs, and strengthen Kuwait’s credit rating,” she said. “It reflects positively on the state’s borrowing capabilities under competitive conditions and helps build up financial reserves to meet commitments amid evolving economic circumstances.”

Al-Munifi noted that the new law will serve as an essential mechanism for financing major national projects, particularly in infrastructure, housing, education, and healthcare — sectors included in the government’s general budget for the next five years. She also revealed that preparations for the issuance of the long-anticipated Sukuk Law have been finalized. “The draft has been completed by the Ministry and is currently under discussion in relevant Cabinet committees. It will soon proceed through the constitutional procedures for final approval,” she said.

Meanwhile, Director of the Public Debt Department at the Ministry of Finance, Faisal Al-Muzaini, announced that Kuwait is returning to the financial markets — both domestic and international — for borrowing in the 2025/2026 fiscal year. He described the move as the largest financial market entry in over eight years, implemented under Decree-Law No. 60 of 2025.

Al-Muzaini hailed the law as a landmark in public finance reform, stating it provides the government with a robust legal framework for managing public debt. The framework allows for debt maturities of up to 50 years and sets a borrowing ceiling of KD 30 billion (approximately $92 billion).

He added that the Ministry of Finance has outlined a flexible strategy to engage confidently with financial markets while prioritizing competitive financing costs and diversifying the investor base both geographically and institutionally. One key focus, he said, is developing the local debt market by establishing a yield curve that will serve as a benchmark for future issuances.

“This law sends a strong message of fiscal discipline and credibility to global markets,” Al-Muzaini said. “It is expected to contribute to enhancing Kuwait’s credit profile, drawing wider investor interest, and advancing the country’s transition toward a diversified economy.” The Public Debt Management Committee, established in 2016, plays a central role in overseeing this strategy. Reporting directly to the Minister of Finance, the committee includes representatives from the Ministry of Finance, the Central Bank of Kuwait, and the Kuwait Investment Authority. It is tasked with approving the annual financing strategy and advising the Minister on public debt matters. – KUNA

Related Topics:boost Economy financing Investment law strengthen

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KUNA Chief highlights Kuwait’s leadership in media, culture

Published

48 minutes ago

July 26, 2025

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ZHENGZHOU, China: KUNA Acting Director General Mohammad Al-Mannai highlighted on Friday Kuwait’s leadership in media, culture, and peaceful coexistence, emphasizing the country’s commitment to dialogue and building international bridges. Al-Mannai’s statement came during his participation in the Shanghai Cooperation Organization (SCO) Media and Think Tank Summit held in Zhengzhou city, China.

Al-Mannai said that the summit represented a unique opportunity to formulate shared visions that consolidate the role of media in shaping enlightened awareness and guiding public policies. He called for unified media efforts to address current and future challenges and emphasized the need for cultural dialogue and shared media bridges to enhance global understanding.

He also highlighted the shift from traditional media to digital platforms, calling for sharing the experiences and exploration of AI to enhance content and user experience.

KUNA Acting Director General Mohammad Al-Mannai and (right) Acting Editor-in-Chief Mohammad Al-Bahar, during Shanghai Cooperation Organization (SCO) Media and Think Tank Summit held in Zhengzhou city, China.

Al-Mannai renewed Arab institutions’ commitment to cooperate, strengthen partnerships, and turn shared interests and cultural intersections into opportunities for peace and development.

He praised the large Arab participation in the summit, highlighting its significance in showcasing Arab media’s pivotal role regionally and internationally. KUNA’s Acting Director General commended the active participation and constructive proposals aimed at enhancing cooperation among SCO member states and promoting sustainable development through think tank exchanges.

The SCO’s Media and Think Tank Summit is held in preparation for the leaders’ summit scheduled in Tianjin city on August 31 until September first. Apart from the acting director general, KUNA’s delegation ALSO includes Acting Editor-in-Chief Mohammad Al-Bahar, in addition to Head of Marketing and Public Relations Lamia Al-Farsi. —KUNA

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Kuwait Ambassador in China reaffirms support for constructive media dialogue at SCO Conference

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3 hours ago

July 26, 2025

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ZHENGZHOU, China: Kuwait’s Ambassador to China Jassem Al-Najem affirmed Kuwait’s commitment to supporting initiatives aimed at fostering constructive media dialogue and expanding cooperation between media institutions and think tanks. Speaking at the Media and Think Tank Conference of the Shanghai Cooperation Organization (SCO), Ambassador Al-Najem highlighted the importance of such conferences in strengthening mutual understanding among SCO member states.

He noted the summit’s focus on pressing global issues such as digital innovation, green development, sustainable growth, and cross-border cooperation, emphasizing Kuwait’s readiness to expand partnerships within the SCO framework.

Ambassador Al-Najem also underlined Kuwait’s “Kuwait Vision 2035,” which includes key infrastructure projects like Mubarak Al-Kabeer Port and the Northern Economic Zone to enhance regional connectivity and investment. He praised China’s Belt and Road Initiative (BRI) as a vital platform for global development and reiterated Kuwait’s early commitment to the initiative since 2014. He also conveyed Kuwait’s support for global cooperation efforts launched by Chinese President Xi Jinping.

Ambassador Al-Najem highlighted Kuwait’s recent full membership in the Asian Infrastructure Investment Bank (AIIB) and reaffirmed Kuwait’s role in supporting development through the Kuwait Fund for Arab Economic Development (KFAED), which has financed projects in over 100 developing countries. The ambassador conveyed greetings from Kuwait’s Minister of Information, Culture and State Minister for Youth Affairs Abdulrahman Al-Mutairi, wishing the summit success in strengthening regional and international media cooperation.

Kuwait’s delegation at the forum includes Acting Director General Mohammad Al-Mannai, Acting Editor-in-Chief Mohammad Al-Bahar and Head of Marketing and Public Relations Lamia Al-Farsi. — KUNA

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Kuwait welcomes France’s move to recognize Palestine

Published

5 hours ago

July 26, 2025

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KUWAIT: The Kuwaiti Ministry of Foreign Affairs on Friday welcomed French President Emmanuel Macron’s announced intention to officially recognize the State of Palestine.

In a press release, the ministry commended this significant step that would contribute to implementing relevant United Nations Security Council (UNSC) resolutions and the Arab Peace Initiative in a way that enables the Palestinian people to have self-determination and establish their independent Palestinian state on the 1967 border with East Jerusalem being its capital.

The ministry called on other countries to follow suit in order to reach a just and comprehensive solution to the Palestinian cause. — KUNA