This week, amid Bastille Day celebrations, France is honored to host His Highness Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, Emir of the State of Kuwait. Much was discussed during his trip including the many shared values between France and Kuwait – and the many reciprocative opportunities between the two countries.
For many years, Kuwait quietly and effectively invested abroad, jovially earning it the nickname “the sleeping giant.” A modern peculiarity, the country leads and stands out but is often overlooked. Today, it seems, this giant is wide awake.
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Resource-rich nation
The state is one of the Gulf’s most resource-rich and institutionally advanced economies, and one of the first Gulf states to develop a modern financial sector. It hosts the world’s oldest sovereign wealth fund, the Kuwait Investment Authority (KIA), and a strong, globally active banking sector led by the National Bank of Kuwait (NBK). Kuwait’s system is further bolstered by family-owned global business groups and family offices.
Kuwait’s economic diversification
Driven by substantial sovereign wealth and a young, educated workforce, Kuwait is rapidly diversifying its economy. The state has taken big steps – effectively tackling historical governance issues, introduced transparency regulations, simplified e-visas and rolled out business-friendly reforms. Further a clear focus on priority sectors is driving investment and policy development, focused on renewable energy, healthcare, life sciences, artificial intelligence (AI), and education.
Attracting global capital
Earlier this year, at a prominent economic conference, the head of the KIA, Sheikh Saoud Salem Abdulaziz Al-Sabah, delivered a clear message: Kuwait is no longer just quietly providing global capital; it’s becoming a dynamic destination for investment itself. Sheikh Saoud himself symbolizes a new generation of Kuwaitis – globally connected, dynamic, and determined to shape the country’s economic future.
Undoubtedly central to this shift is the KIA, which is now also channeling substantial funds into strategic local investments and establishing specialist entities. Rather than withdrawing from global markets, Kuwait is applying its international investment expertise domestically, partnering strategically with leading institutions from the US, Europe, and Asia. This includes HSBC, Morgan Stanley’s joint venture with NBK, and BlackRock, among others, who are committed to moving over.
Kuwait’s ambition is straightforward: Build mutually beneficial partnerships that transfer skills and technology and create meaningful employment, not just capital. By collaborating on AI and healthcare initiatives, Kuwait is committed to attracting global leaders and accelerate domestic innovation. The nation’s extensive family businesses and private wealth holders are key partners for investment and international collaboration.
Healthcare initiatives
Healthcare highlights this approach clearly. Kuwait is one of the biggest spenders on overseas medical treatment with costs in the billions of dollars being incurred on a yearly basis. To tackle this and build capacity, Kuwait is actively inviting private-sector participation in diagnostics, digital health, and specialized healthcare services, evolving from healthcare consumer to innovator.
Building the future through education
Education is equally critical. Kuwait already has a strong educational foundation, but ongoing modernization efforts, such as vocational training aligned with future economic needs, educational technology, and international partnerships, will solidify its competitive edge.
Likewise, Kuwait’s digital and AI growth is gaining momentum. After a slower start compared to some neighbors, the country has recently made notable progress through smart government initiatives, upgraded digital infrastructure, and enthusiastic startup support.
Unlocking Kuwait’s potential
The groundwork has been laid. Investor-friendly regulation, transparent governance, and infrastructure enhancements are already underway. Significant opportunities are set for international businesses looking to tap projects across transportation, construction, infrastructure, energy and more.
Expanding these efforts and strengthening public-private collaboration will fully unlock Kuwait’s economic potential. Kuwait is at a pivotal moment. Through strategic partnerships and targeted investments, Kuwait is reshaping its economic narrative from passive investor to active innovator.
A new era of reciprocation will drive this giant to succeed.
François-Aïssa Touazi is the co-chairman of the France -Gulf Council at Medef International, senior managing director at Ardian, and chairman of Ardian Abu Dhabi Limited.
