Salaei Group: Important Group in Kurdistan
Exclusive interview with Shwan Bakr Hasan, Chairman of SALAEI Group.
imported 2024-03-17 17:43:06
Exclusive interview with Shwan Bakr Hasan, Chairman of SALAEI Group.
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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.
Mark DeWeaver, Principal at Quantrarian Capital Management
Iraq is set to experience rapid economic growth due to several factors including enormous untapped, low-cost oil reserves, recovery from a civil war, a transition from a state-controlled economy to a market economy, and excess demand for almost everything. Whether compared to Russia in the early 90’s or to the story of the Chinese economy, Iraq, including the Kurdistan Region, is a powerful emerging market. Mr. DeWeaver views the case of Iraq as one in which the potential reward by far exceeds the risks.