The Kuwaiti government is looking to increase non-oil revenues by creating shopping space. According to sources cited by Al-Qabas daily, the Ministry of Communications is trying to set aside a portion of the land in the Shuwaikh Industrial Area for investment in order to develop its financial resources by building complexes and shopping malls.
The New Kuwait 2035 is the country’s development plan. The expansion of the private sector’s role, encouraging public-private partnerships, modernizing the country’s infrastructure, and creating a support system for small and medium-sized businesses are just a few of the plan’s many aims.
The MoC has told one of the relevant authorities to set aside a plot of land for the ministry’s warehouses in order to restructure the economic system, increase non-oil earnings, and revive the national economy, according to the same sources.
A large area has been allocated by the Ministry of Finance as unexploited warehouses which is located in Al Shuwaikh. The industrial area is considered the backbone of the state and was given to the Ministry of Commerce with the intention of encouraging investment and commercial activity.
Sources say the location of the ministry’s stores is ideal for investment in establishing commercial stores overlooking the main street, which are opposite to complexes and commercial stores owned by companies or individuals. This area is also beneficial as the cost of rent due on it is considered one of the highest areas in the State of Kuwait.
Shuwaikh is a seaside district of Kuwait City in Kuwait, which comprises eight blocks. It also has an industrial area, a port, a commercial area, a healthcare area and an education area. Shuwaikh is a mix of rural and industrial areas. This region has the Souq al-Juma, a Friday market where a variety of items are sold, including furniture, clothing, animals, new and used goods, and much more. The Shuwaikh port is the most significant port in Kuwait because it has a power plant and a desalination facility that feeds water to the entire city of Kuwait and is Shuwaikh’s most well-known landmark.