• Sign in
  • 1744009905_435.svg 1744009905_642.svg

  • Latest news
  • Top headlines
  • Most read
  • Columnists
O'zbekcha
Ўзбекча
Русский
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • O'zb
  • Ўзб
  • Рус
  • Eng
  • Latest news
  • Top headlines
  • Most read
  • Columnists
    • USD12694.97
    • RUB161.6
    • EUR14878.5
    • Google play
    • App Store
    • Telegram
    • Tashkent
      +28°C
      • Andijan
      • Karshi
      • Bukhara
      • Samarkand
      • Ferghana
      • Sirdarya
      • Jizzakh
      • Termez
      • Namangan
      • Tashkent
      • Navoiy
      • Tashkent reg
      • Nukus
      • Urgench
    • Daryo
      • About Daryo
      • Editorial office
      • Contact us
      • Terms of use
      • Privacy policy
      • News archive
    • Advertisement
    • Social networks
      • Instagram | Main
      • Instagram | Lifestyle
      • Instagram | Sport
      • Facebook | Main
      • OK | Main
      • YouTube | Daryo
      • YouTube | Daryo in Russian
      • YouTube | Daryo Global
    Telegram Youtube Facebook Instagram Twitter vkontakte
    Daryo logo white
    • Uzbekistan
      • Others
      • Navoi
      • Tashkent region
      • Syrdarya
      • Jizzakh
      • Kashkadarya
      • Surkhandarya
      • Khorezm
      • Bukhara
      • Samarkand
      • Namangan
      • Fergana
      • Andijan
      • Karakalpakstan
      • Tashkent City
      • DaryoKindness
      • Weather
    • Central Asia
      • Uzbekistan
      • Afghanistan
      • Kyrgyzstan
      • Kazakhstan
      • Turkmenistan
      • Tajikistan
    • World
    • Money
      • Business
      • Economics
      • Finance
      • Crypto
    • Culture
      • Movies
      • Books
      • Music
      • Celebrities
    • Lifestyle
      • Women only
        • Children
        • Beauty
        • Carrier
        • Advises
        • Fashion
        • Recipes
      • Technology
        • Architecture
        • Gadjets
        • Science
        • Space
        • Media
      • Auto
      • Entertainment
      • Travel
      • Health
      • Education
        • Entrant
        • Learn english
    • Sport
      • Football
      • UFC
      • Boxing
    infinix
    Daryo.uz - Login
    Daryo.uz Daryo.uz
    Daryo.uz - Login
    World

    Kuwait unveils Ciyada sovereign fund to drive economic growth and diversification efforts

    Kuwait unveils Ciyada sovereign fund to drive economic growth and diversification efforts

    Kuwait is set to establish a new sovereign fund named Ciyada, with the aim of developing mega projects and boosting the local economy. The government plans to attract funds from foreign investors and the private sector to support the proposed fund, Reuters reported.

    Photo: Kuwait unveils Ciyada sovereign fund to drive economic growth and diversification efforts 
    Source: Reuters

    The Ministry of Finance and the Kuwait Investment Authority (KIA) have been assigned the task of studying the plans for Ciyada, which means "sovereign" in Arabic. While specific project details and the fund's size have not been disclosed, it is expected to have a significant impact on Kuwait's economic growth and diversification efforts.

    The KIA, which already manages over $800bn in assets, oversees the Kuwait Investment Office, responsible for managing the General Reserve Fund (GRF) and the Future Generations Fund (FGF). The GRF serves as the government's main treasury, while the FGF focuses on investing state revenue abroad.

    The Ciyada Development Fund will play a crucial role in spearheading domestic investments aimed at fueling economic development and diversifying Kuwait's economy. The fund is expected to facilitate strategic planning and the implementation of major development projects across various fields, promoting transformation and progress.

    Kuwait's move to establish Ciyada follows the examples set by other countries in the region. Abu Dhabi created Mubadala Development Co in 2002 to diversify its economy and accelerate development. In 2016, Mubadala merged with the International Petroleum Investment Co to form Mubadala Investment Co. Saudi Arabia's Public Investment Fund also plays a vital role in Prince Mohammed Bin Salman's Vision 2030, a comprehensive plan aimed at reducing the country's reliance on oil revenues.

    The establishment of Ciyada reflects Kuwait's commitment to advancing its economy and attracting foreign investments. By channeling funds into mega projects and promoting economic diversification, the country aims to create new opportunities, boost growth, and enhance its standing in the global economy.

    16.07.2023, 22:19   Comments (0)   1378
    Facebook Twitter LinkedIn Telegram Email

    Comments (0)

    Sign in
    Leave A Reply Cancel

    On this topic

    Demolition of 300-year-old Iraq mosque minaret for road expansion sparks outrage and cultural heritage concerns 

    16.07.2023, 21:55

    French shepherds seek assistance of patou dog again

    16.07.2023, 20:35

    Over 40 migrants are rescued off Libyan coast

    16.07.2023, 20:11

    Flood death toll rises in South Korea

    16.07.2023, 19:00

    Deadly conflict ravages Sudan's Omdurman city

    16.07.2023, 18:41

    EU's €1 bn aims to seize trafficking and boost Tunisia's economy

    16.07.2023, 18:21
    ×Lightbox Image

    Daryo.uz | Solution to your problems


    Beepul 's rising popularity: 3.5x user growth, transaction up 2.3x in 2024


    More than 500,000 new users: residents of Uzbekistan choose the Hambi superapp


    Beeline Uzbekistan started 2025 with a significant network modernization


    Don't want to waste time standing in lines? Pay your utility bills through the Ipoteka Retail mobile app?

     

    Recommended

    Iran as the pressure point: How Washington’s campaign against Tehran seeks to undercut China and Russia - and why Central Asia risks the fallout

    19 June, 12:24

    "Visa simplification with Uzbekistan could be on the table," EU Ambassador Klaar points out

    11 June, 12:12

    “Uzbekistan is undergoing large-scale reforms and transformation,” says EU business leader at TIIF

    11 June, 08:34

    Central Bank warns half of monthly income goes to loans as debt burden rises in Uzbekistan

    3 June, 12:34
     
     
     

    Latest news

    “Kyrgyzstan’s president has been sleeping on a plane for three days,” says security chief

    Kyrgyzstan | 30 June, 17:58

    Kazakhstan’s investment rises 10% in 2024 as reforms, infrastructure push drive growth

    Kazakhstan | 30 June, 15:06

    Kyrgyzstan brings Dolon Avalanche station back to life with UNDP, Japan support

    Kyrgyzstan | 30 June, 14:00

    Uzbekistan ranks first in Central Asia for admissions to top global universities

    Uzbekistan | 30 June, 12:55

    Nearly 40% of Uzbekistan’s population has no savings, survey finds

    Uzbekistan | 30 June, 11:31

    Turkish company to invest in logistics infrastructure development in Kazakhstan

    Kazakhstan | 30 June, 10:40

    UNICEF and partners highlight success of Uzbekistan’s youth-led climate network

    Uzbekistan | 30 June, 09:13

    South Korea–Central Asia summit postponed to 2026

    Central Asia | 29 June, 16:00
    Daryo About Us

    Full reproduction or partial quoting of material, as well as the use of photographic, graphic, audio and/or video materials of Daryo (the Uzbek Press and Information Agency (UzAPI, now the Agency for Information and Mass Communications under the Presidential Administration of the Republic of Uzbekistan) is registered on 13.03.2015 with certificate number No. 0944 as a mass media) is allowed if there is a hyperlink to the website daryo.uz and/or are accompanied by a note indicating the authorship of the online publication Daryo. Individual publications may contain information that is not intended for users under the age of 18. Info@daryo.uz

    Telegram Youtube Facebook Instagram Twitter vkontakte

    © Simple Networking Solutions, 2013–2025

    Age restriction

    Did you find a bug? Press Ctrl + Enter

    • Terms of use
    • Privacy policy
    • Advertisement
    What are we going to search for?

    Sign In or Register

    Welcome Back!

    Login below or Register Now.

    Google

    or with email

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Register Now

    Already registered? Login.

    Google

    or with email

    A password will be e-mailed to you.

    Leaving a comment, Пользовательского соглашения and Политики конфиденциальности

    Found an error in the text?

    ×

    Thank you. We have received your message and will fix the error as soon as possible.