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The Kuwait Direct Investment Promotion Authority (KDIPA) has announced its annual plan for major projects for the fiscal year 2026/2027.
The plan includes two strategic projects aimed at strengthening the Authority's infrastructure and expanding the economic and service sectors in the country.
KDIPA confirmed its intention to launch a tender to prepare consultancy studies for the Al-Na'ayem Economic Zone and the Nuwaiseeb Free Zone.
It said that in line with Kuwait's vision to diversify the national economy, the 2026/2027 plan includes preparing specialised consultancy studies and updating the feasibility study for the Al-Na'ayem Economic Zone project, as well as preparing a comprehensive feasibility study for the Nuwaiseeb Free Zone project.
The scope also includes preparing tender documents, partnership and qualification contracts, and ultimately launching both projects, leading to financial closure, it said.
Al-Na'ayem Economic Zone project aims to create a central location for expanding basic industries with emphasis on low-cost industrial activities. In the long term, it is envisioned as a hub for the growth of smart industries and renewable energy technologies.
Nuwaiseeb Free Zone project is planned to be constructed according to advanced economic specifications, making it a free zone comparable to regional free zones in terms of organisation and services offered to investors, the statement said.
The project aims to attract around 500 local and international companies across multiple sectors.
Planned infrastructure includes 50 logistics warehouses, storage areas, pland plots, 50 light and processing factories, three hotels, two investment complexes for sublease, four Food and Beverage (F&B) clusters and two medical centres.
(Writing by N Saeed; Editing by Anoop Menon)
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