Mubasher: Kuwaiti minister of commerce and industry Khaled Al Roudan on Thursday said investments into Kuwaiti market are set to hit at least $2.5 billion after the MSCI boosted the Gulf country’s stock market to emerging market.
Global index provider MSCI finally reclassified Kuwaiti equity market to emerging market from frontier.
After the upgrade, total foreign investments are set to reach up to $4 billion, Al Roudan.
The Kuwaiti minister highlighted the fact that the Gulf country is now classified as emerging market at the MSCI, S&P and FTSE Russell, the world’s three largest indices, which mirrored the improving conditions.
Al Roudan also praised the efforts exerted by Kuwait’s Capital Market Authority and concerned entities to upgrade Kuwaiti market at global indices and improve business conditions in order to attract more investments.
