Driven by innovation and made strong by tradition, Kuwait is one of the most advanced countries in the Arabian Peninsula. Kuwait is an outstanding model of a modern Arab democracy and a pioneer in Business and trade. Kuwait’s location ahead of the Arabian gulf played a profound and decisive role throughout its rich history. Considering influential neighbours on all sides, Kuwait has retained its unique political identity.
Kuwait is one of the oldest regions inhabited by human beings, considering that archaeologist discovered the oldest sail boats in Kuwait. As a country, it played a pivotal role along the major routes of the whole world. In 1613, people settled in Kuwait, realizing its importance. Kuwait democratic tradition place the country far ahead of its time and Sheikh Al- Sabah Al-Jaber was selected as the first formal ruler of Kuwait. During the 18th century, Kuwait was considered as the centre of boat building and trading in the Persian Gulf region. Having progressively developed in various industries, Kuwait was capable of overcoming huge political challenges and strive to enlarge its outstanding legacy.
As one of the richest countries in the world, and thanks to Kuwait’s strategies and economic development and diversification strategies, many industries are striving, such as: food, construction, energy, and oil and gas. through the implementation of the government’s stimulus measures, Kuwait’s infrastructure expansion is believed to perform strongly in the future. Private sector and foreign investors play a foremost role in this implementation, which include huge megaprojects in various fields.
Kuwait’s huge contribution to the oil and gas sector started in 1934, as Kuwait Oil Company (KOC) was established. Since then KOC exploited huge petroleum related-operations onshore and offshore. By 1938, first oil was founded commercially, and in the 1940s Sheikh Ahmad Al-Jaber Al-Sabah, the late ruler of Kuwait, initiated the first export operation of crude oil. In 1975, the Kuwaiti government secured 100% control over the Kuwait Oil Company, and in the 1980s the Kuwait Petroleum Corporation was constructed to unite all state-owned oil companies. Throughout the decades, KOC applied various innovative approaches, and hence KOC’s performance is highly reputable globally. The wonders of Kuwait are merely observable in various industries, and with the support of industry and government through various
incentives, the future of Kuwait is capable of putting an eminent mark on the future of it’s nation.