Alert to the trends of Kuwaiti business

Kuwait

Marion Chehab, board member of the German Business Council Kuwait (GBCK), talks to The Energy Year about creating meaningful connections in the Kuwaiti business community and the impact of recent legislation on investment appetite. The GBCK is a non-profit organisation that fosters relations among German-speaking businesses and their Kuwaiti and regional counterparts.

How is the GBCK supporting German, Austrian and Swiss businesses, and what are its key objectives given the recent economic and regulatory shifts in Kuwait?
As we celebrate 20 years in Kuwait, the German Business Council has adapted to a fast-paced global environment and an evolving domestic economy. Our objective is to provide consistency, quality and trusted connections. We host high-calibre networking events, kicking off the year with expert insights on legal developments and the energy transition.
Our networking events are designed to connect, inform and enable meaningful dialogue at a strategic level and are complemented by digital engagement, curated events as well as strategic site visits. These initiatives, in collaboration with our embassies and chambers of commerce, ensure we stay connected to the local pulse while guiding new entrants and informing members in real time.

With recent laws such as Law No. (1) of 2024 and Decree-Law No. (60) of 2025, how are Kuwait’s business environment and investment climate changing for international firms?
Kuwait’s ease of doing business still faces challenges, but recent legislative moves show intent to attract international firms. Law No. (1) of 2024 may benefit companies with market experience, but the lack of clear guidelines at launch created uncertainty and slowed momentum, raising questions about its usefulness for newcomers.
Decree-Law No. (60), backed by the country’s USD 1-trillion Future Generations Fund, reflects a push for development over deficit spending. When allocated toward diversification and major projects, these funds can increase investor interest, encourage companies to enter or return to the market and enhance the performance of the equity market. The pace is cautious, but the direction is positive.

With Kuwait targeting 3.2 million bopd production capacity and investing KWD 10 billion [USD 32.5 billion] across its oil and gas value chain, what are the opportunities for German, Austrian and Swiss companies, and how can their expertise in green hydrogen, carbon capture and renewables support Kuwait’s energy transition?
As Kuwait modernises its energy sector, German, Austrian and Swiss companies are well-positioned with strengths in automation, reservoir optimisation and clean tech. Their niche engineering capabilities and advanced technologies align with the country’s infrastructure needs.
Our long-standing collaboration – dating back to the 1980s – includes partnerships such as those between KFAS [Kuwait Foundation for the Advancement of Sciences] and the Renewables Academy (RENAC) AG, which are empowering national talent and supporting a knowledge-based economy. This technical and human capital expertise can help accelerate Kuwait’s shift toward sustainability, particularly in green hydrogen, carbon capture and renewables.

As talent retention remains a challenge in Kuwait’s private sector due to public sector incentives, how can German and international firms adapt to attract and retain skilled professionals?
Public sector incentives, limited economic diversification and the academia-employment gap are challenges for Kuwait’s private sector. Employers from Germany, Austria and Switzerland remain committed to high standards, guided by European social guidelines and Kuwaiti legislation.
Corporate governance leaves little room for adaptation, but with it comes knowledge transfer, an integral part of our governance and an asset ultimately benefiting the host country. On the other hand, cultural awareness training for international companies would be beneficial to creating inclusive, effective work environments abroad.

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