This is the 25th anniversary of Xerox's presence in Kuwait. This has been 25 years of success and sustainable revenue growth YoY, despite economic changes. Despite all the delays in business, we are capitalizing on the new technology made available to us. We attended Drupa 2016, which is the largest printing industry event in the world. We showed the latest technology to our clients, and they were impressed with how we are leading the way compared to other players in the market. The exhibition caters to everyone in the industry including other brands and our competitors. Our customers showed a great deal of interest in another game changing product Xerox is putting into the market, which is the latest high-end production digital press. Importantly, we also launched an Inkjet technology at Drupa for book publishers and printing presses, most notably the Al Khat Printing Press, to have a cost-effective way to run a print-job, particularly short-runs. This will be useful to the education sector and organizations that do a lot of variable printing. In return, this gives us a new area for growth with our clients in Kuwait.
Jun. 13, 2017
Kuwait is host to a wide range of foreign investors across a number of sectors, all using Kuwait as a stable base of operations for the region.
General Manager, Xerox Kuwait-Alghanim Industries
General Manager, Hempel Kuwait
In Kuwait, there are particular types of decorative coatings that are required for buildings and other structures. We have special water-born products that Kuwaitis like to use on the exterior of their villas. We can create whatever pattern you like in it. Then they are all coated with a high quality polyurethane paint that is a highly durable protective product. Typically, Kuwaiti customers have more money to spend on their houses and they are prepared to pay for very high-quality products. This villa business is a mega-business for us today. We have all the paint tinting facilities so we can create the color the customer has in their mind in no time. This further incited us to get in contact with a number of real estate companies. We keep track of new developments that are going to be released in the market, as well as the construction materials being used such as steel or concrete. This helps us with our production planning for the year ahead. Less people go for our high protection coatings in Saudi Arabia because generally people's disposable income is lower there compared to Kuwait.
CEO, Siemens Kuwait
Siemens actually has one regional hub in the UAE and, as a regional company, Siemens Kuwait works together with our lead country. This is the business setup but, on the other hand, Siemens' regional identity presupposes that we focus on our local needs as the requirements for each country are different; not 100% the same but similar because most of the economic environment in countries like Qatar and Kuwait are oil-rich, gas-rich, and GDP is heavily dependent on this exploration and the revenue received from this sector. Therefore, the solutions that we provide are not only envisaged for Kuwait but what we develop and receive from our headquarters or lead country is offered to all the other countries in the market as well. We have to customize the solutions to Kuwait as we have certain standards and requirements, especially with the KNPC in the oil and gas sector, and therefore we have to adapt to these standards.
Vice President Operations, FedEx Express Middle East and Africa
Over the last decade, Kuwait has demonstrated considerable resolve and persistence in building a strong economic environment. Today, the country is one of the GCC's most democratic members with an exceptionally strong public sector and has plenty to offer in terms of business opportunities. Kuwait's economy is primarily driven by the country's robust oil and gas sector, which contributes around 60% to the annual gross domestic product, and approximately 95% of export revenues. However, the country's logistics sector is equally important to Kuwait's development and growth. The logistics market in Kuwait is strengthened by the country's location and size, as it is positioned closely to many major markets in a region with a population of more than 140 million and an output of USD1.3 trillion. The Kuwait Development Plan has identified ways to further strengthen the logistics market, including enhancements to sea and air links, in addition to airport upgrades in recent years. There is substantial potential for business growth in Kuwait's logistics sector.