KUWAIT CITY, Aug 5: The total cost of strategic projects within “Kuwait Vision 2035” from 2010 until the current fiscal year has amounted to $120 billion, according to Al-Seyassah/Arab Times special report. These expenditures were allocated across various sectors with a significant focus on oil, logistics, energy, housing, education, and health.

The government reports and data seen by the daily reveal that the distribution of spending among the sectors accounts for 49 percent for oil and gas, logistics 16 percent, energy 8 percent, housing city construction 8 percent, education 7 percent, health 7 percent, and Small and Medium Enterprises 5 percent.

The reports emphasize that the oil sector received the largest share of the spending due to its critical role in Kuwait’s economy, following the investment and banking sectors in terms of governance. This sector’s management, marked by complete professionalism, facilitated the completion of numerous major projects during the vision’s timeline The overarching goal of ‘Kuwait Vision 2035’ is to position Kuwait among the top 35 percent of countries globally across 31 competitive indicators. These include macroeconomic stability, labor market efficiency, electronic participation, perceptions of corruption, and transportation infrastructure.

The vision calls for a strategic shift in the government’s role from operator to regulator and monitor, thereby empowering the private sector to drive economic operations. This shift is particularly important given the numerous major economic projects planned, including the development of the northern region. The success of Kuwait Vision 2035 hinges on several foundational elements such as the institutions operating within a constitutional framework, infrastructure development in line with international standards and strong government commitment. Additionally, the vision is built on nine key pillars -- building an international special economic zone, implementing a comprehensive privatization program, strengthening the dynamic private sector and enhancing the capabilities of citizens and institutions. This is in addition to developing an interconnected and transparent government, building cohesive infrastructure, creating environmentally harmonious living areas, promoting health and well-being for all and ensuring effective participation in the global community. As Kuwait continues to implement its ambitious Vision 2035, these strategic projects and foundational elements are expected to drive significant economic growth and development, positioning the country favorably on the global stage.