Kurdistan: Many Sectors Attract Foreign Companies
The neighbouring countries do invest because of the proximity to Kurdistan – especially Turkey – and because of the good trading policy with surrounding countries.
imported 2024-03-17 17:43:07
The neighbouring countries do invest because of the proximity to Kurdistan – especially Turkey – and because of the good trading policy with surrounding countries.
The latest figures right now show that more or less US $22 billion is the size and scale of committed investment; investment according to what we have in licenses.
Zozik Group started with construction in cooperation with big international companies, especially in the area that was under the supervision of the U.N.
We should show investors the capability and potential of Kurdistan. The investment law in Kurdistan is one of the most attractive in the world.
The cabinet has set the budget for 2013 and it exceeds US $130 billion. We know that our region will receive a 17% share of the budget, minus the sovereign expenses.
Mr. Noori discusses various regulations that could facilitate their operation in the Kurdistan region of Iraq. These regulations include removal of every monopoly and privatization of land lines and cables. Also, there is a great need for a total review of all the 21 licenses issued by the Ministry of Communication. Nevertheless, the fiber-optic network in Kurdistan is witnessing a rapid expansion and progress at the moment.
Many investors come to Iraq and ask what they shall invest in while a better question would be what they should not invest in because Iraq is a vast land of investment opportunities. It nevertheless remains difficult to invest in Iraq as it is a very difficult place to operate in; a war-torn country where the financial knowledge equals almost to zero.
Dr. Mohammed R. Mochtar, Vice President for Administration and Finance Affairs at Salahaddin University-Hawler
Salahaddin University has a plan to reform its educational system and programs. A crucial part of this plan is to convince the private sector to make available and share their resources and so contribute to the reform of the educational system in the Kurdistan Region. Dr. Mochtar also stresses the importance of strong relations with other regional and international universities.
Iraq, including the Kurdistan Region, requires an enormous amount of materials which are currently still being shipped in or transported by trucks into the country. The country still represents only a workshop for installation – and it will remain so until there are new factories established which will cater for the local demand. Regarding the electricity consumption, the government is unable to anticipate the growth and thus is always behind the demand.
80% of the real estate investments in the Kurdistan Region are local. The prices of real estate are high as there is neither functioning mortgage system, nor an insurance to cover that. Atconz believes the real estate business in Kurdistan needs another 10 years to settle down at a sustainable level. Atconz is leading the real estate market in the Kurdistan Region in terms of quality.