Kuwait plans $17.2bn investment in economy

Kuwait plans to invest about 5 billion dinars ($17.2bn) in its economy in the 2010-2011 year, according to the secretary-general of the Supreme Council for Planning and Development.

“Oil investment will be 2.212bn dinars and non-oil will receive 2.8bn dinars,” Adel Al Wuqayan said in an interview in Manama on Saturday. Kuwait, the fifth-biggest producer in the Organization of Petroleum Exporting Countries, expects investments of more than 30bn dinars in its economy over four years, he said. Investments from the private sector are estimated at 15.4bn dinars, and the government will contribute 14.7bn, according to Al Wuqayan.