Ibrahim Al-Sofy: Retail, Agriculture and Business
Ibrahim Al-Sofy, General & Executive Manager of Al-Sofy Group of Companies talks about Iraqi Kurdistan, the retail and agriculture sector and business environment.
List of all articles filed under “kurdistan-sectors” category.
Ibrahim Al-Sofy, General & Executive Manager of Al-Sofy Group of Companies talks about Iraqi Kurdistan, the retail and agriculture sector and business environment.
Fidaden Garde, Chairman of Sana group and Member of the Board of the Erbil Chamber of Commerce and Industry discusses the vision for Iraqi Kurdistan.
Soran A. Aziz, Vice-President of Erbil Chamber of Commerce and Industry discusses the development of agriculture in Iraqi Kurdistan.
Korek is a big player in Iraq now, “we have nationwide coverage. We increased our market share by 4 percent in less than a year: we moved from 11 to 15.7 percent.”
You cannot build an instant country, but since the 2003 fall of the Hussein regime, the autonomous Kurdistan region has been accomplishing something close to this with its rapid pace of business and infrastructure construction supported by a strong boom in the oil based economy.
For Nozad Dawood Fattah Al-Jaff, chairman of North bank, the goal is to be not only the largest bank in Iraq, but to be recognized as a strong regional player as well.
Newroz Telecom is building a high-speed broadband ADSL network in Erbil and Dohuk and laying more than 1,500 kilometers of fiber-optic cable, according to the Newroz Telecom website.
The international and local investments into the Kurdistan Region have affected it positively though the lack of credit system in Kurdistan still hinders larger, long-term investments. On the other hand, the cash-based projects are less riskier than projects financed through bank loans like in the US, Europe or UAE. Falcon Group, one of the leading companies in Iraqi Kurdistan, earns money from Iraq and invests it back in Iraq; its primary effort is to rebuild Iraq and its different sectors of economy.
However, we see that there is a need for 350,000-500,000 houses while there are currently only 120,000. Moreover, the number of residents is increasing so the demand for houses is there.
Among the small but growing band of investors in the Iraq Stock Exchange (ISX), the question most asked is whether 2013 will mark the start of a new bull market.