nieuws

Kuwait unveils ambitious tourism plan

Horeca

The Kuwaiti government has unveiled an ambitious plan to open its doors to a multi-billion-dollar investment project targetting the transformation of its Failaka Island into a state-of-the-art tourist destination.

A team appointed by the government yesterday presented to potential local and foreign investors a structural plan to develop the Island with a five-year build, operate and transfer (BOT) agreement. The project falls in line with the state’s moves to liberalise and diverge its economy by boosting foreign direct investment and reducing dependence on the country’s rich oil reserves. The plan, which includes the construction of an extensive holiday resort, is estimated to cost a minimum of US$3.3bn and represents an investment opportunity of unprecedented scale in the country.

A team appointed by the government yesterday presented to potential local and foreign investors a structural plan to develop the Island with a five-year build, operate and transfer (BOT) agreement. The project falls in line with the state’s moves to liberalise and diverge its economy by boosting foreign direct investment and reducing dependence on the country’s rich oil reserves. The plan, which includes the construction of an extensive holiday resort, is estimated to cost a minimum of US$3.3bn and represents an investment opportunity of unprecedented scale in the country.

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