Kuwait has recently earmarked $3.3bn for projects under the Ministry of Public Works in the next financial year budget of 2017-18, according to local reports that have quoted the undersecretary of the ministry.

Kuwaiti newspaper Alanba quoted Awatef al-Ghoneim saying that the budget will cover the ministry’s entire infrastructure and development projects across the country.

Kuwait has also recently announced the development of five islands, which the country is looking to attract $132bn-worth of investments in order to build up.

State news agency Kuna reported that the government was considering developing the islands of Boubyan, Failaka, Warba, Miskan and Awha into a “multi-purpose free trade zone for the northern Gulf region and Kuwait.”

The government plans to introduce incentives to attract foreign investment in the islands project, including tax exemptions for up to 10 years, stated the report.