DAVOS: Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam affirmed that 2025 will be a pivotal year for Kuwait as the government works to implement ambitious plans within a clear strategy to achieve the New Kuwait 2035 vision. This came in the minister’s speech during a high-level dialogue session titled Long-Term Growth in the Middle East and North Africa Countries, within the activities of the annual meeting of the World Economic Forum held in Davos from Jan 20 to 24, 2025.
The minister touched on the expectations and aspirations towards economic development prospects in light of the challenges and opportunities available, in addition to expectations of economic growth in the region, stressing that reliance on a single source of income is no longer acceptable.
She also stressed the importance of enhancing digital infrastructure with the participation of the private sector within the public-private partnership system, noting that providing legislation that attracts foreign investment is necessary to build a promising future for the upcoming generations.
The minister said geopolitical risks, climate change and artificial intelligence are among the most prominent global challenges for 2025, stressing that confronting these challenges requires close cooperation between the public and private sectors to employ technology.

The panel discussion highlighted the growing role of technology and innovation in reshaping the region’s economic landscape, as rapid developments in the fields of artificial intelligence, smart industry and energy transformation open new horizons for economic growth, contributing to enhancing the ability of regional economies to achieve economic diversification and sustainability.
Meanwhile, US President Donald Trump issued a blunt warning to global elites in a video message to the World Economic Forum on Thursday: Make your product in the United States or pay tariffs. Beamed on a giant screen in the Swiss Alpine village of Davos, Trump received a loud round of applause from political and business A-listers who had eagerly awaited his appearance all week.
Speaking from the White House, Trump touted his plans to cut taxes, deregulate industries and crack down on illegal immigration. But he also had a tough message. “Come make your product in America and we will give you among the lowest taxes of any nation on earth,” Trump said. “But if you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff.”
In his wide-ranging speech, Trump made a link between the war in Ukraine and oil prices. Trump said he would ask Saudi Arabia and the Organization of the Petroleum Exporting Countries to bring down crude prices. “If the price came down, the Russia-Ukraine war would end immediately,” he said. The US leader then fielded question from the top executives of Bank of America, Blackstone investment firm, Spanish group Banco Santander and French oil and gas giant TotalEnergies.
Trump already gave Davos a taste of what is to come since his inauguration on Monday, which coincided with the WEF’s first day. He has threatened tariffs on China, the European Union, Mexico and Canada, pulled the United States from the Paris climate pact and renewed his claim the Panama Canal, just to name a few.
His plans to cut taxes, reduce the size of the US federal government and deregulate industries likely found a sympathetic ear amongst many businesses, though economists warn the policies could rekindle inflation. US trade partners and rivals already had a chance to react in Davos earlier this week, as they brace for a second round of his America First policies.
Without invoking Trump’s name, Chinese Vice Premier Ding Xuexiang warned: “There are no winners in a trade war.” European Commission president Ursula von der Leyen said Brussels was ready to negotiate with Trump. But she also underscored the European Union’s diverging policy with him on climate, saying the bloc would stick by the Paris accord.
World Trade Organization chief Ngozi Okonjo-Iweala called on cooler heads to prevail during a WEF panel discussion on tariffs on Thursday, warning that tit-for-tat levies would be “catastrophic” for the world economy. “Please let’s not hyperventilate,” she quipped. “I know we are here to discuss tariffs. I’ve been saying to everybody: Could we chill, also?” – Agencies