Kuwait National Development Plan has adopted the economic reform approach by supporting the concept of partnership between the private sector and the public sector through creating real opportunities for partnership between the two sectors that support the local economy, develop the private sector and make it an effective partner in the development.
One of the most important strategic directions of KPC in supporting Kuwait National Development Plan is developing of an integrated and comprehensive strategic plan to enhance KPC’s role in developing of the local economy and enhance private participation in oil activities
Local content is the extent of contribution of local capabilities to the value add of the local economy, primarily through:
- Recruiting of Kuwaitis workforce by local suppliers.
- Supply of domestic goods and services by local companies.
- Utilization of oil sector products to create further downstream industries.
- Engagement of the local private sector in oil-sector activities/opportunities.
