Sept 3 (Reuters) - Kuwait's Capital Markets Authority

has granted an investment adviser licence to BlackRock Advisors

(UK) Ltd, a unit of global asset manager BlackRock ( BLK ), the

regulator said in a statement on Wednesday.

BlackRock ( BLK ) has markedly expanded its footprint across the

Gulf, in Abu Dhabi, Riyadh and Doha, cementing partnerships that

span fund management, infrastructure, and advisory.

Despite its deep pockets and economic ambition, Kuwait has

notably lagged Gulf neighbors in drawing private equity

investment. High regulatory hurdles, foreign ownership

restrictions and bureaucratic red tape under its semi-democratic

system create significant friction for investors.

"This achievement marks a milestone in the development of

Kuwait's financial market and confirms the state's ability to

attract major global institutions," the CMA said of the

BlackRock Advisors licence.

Since assuming the throne in December 2023, Emir Sheikh

Meshal al-Ahmad al-Sabah has moved to break years of political

gridlock, by dissolving the parliament for four years, and

pressing forward with stalled economic reforms.

($1 = 0.3053 Kuwaiti dinars)

(Reporting by Ahmed Hagagy; writing by Hadeel Al Sayegh;

Editing by Jan Harvey and Emelia Sithole-Matarise)