imported 2024-03-17 17:43:06
Mrs. Doaa Amin confirms the business tourism in Erbil is slowly but certainly picking up. She manages one of the best business hotels in the city – Tangram Hotel. The hotel is perfectly designed to cater for any needs of a businessman travelling to the Kurdistan Region. Moreover, the rooftop club at the top of Tangram is the best night club in Erbil!
Minister of Transportation & Communications of Iraqi Kurdistan talks about the main infrastructure and transportation projects that are to transform the public transport system in Erbil, Duhok and Sulaymaniyah.
Minister of Transportation and Communications of Iraqi Kurdistan talks about the main responsibilities of the Ministry and the strategic transportation projects in Iraq and Iraqi Kurdistan.
The Minister reveals his greatest worries and also plans in order to improve the state of infrastructure in the Kurdistan region of Iraq.
According to Salahaddin University – Hawler, industry contributes around 22% to Kurdistan’s GDP, which makes industry the top contributor to the GDP. Most of industry in Kurdistan revolves around oil and gas sector, petrochemicals and chemicals. Furthermore, the region has minor textile industry, leather industry, construction materials industry, food processing industry, fertilizer industry, and metal fabrication/processing industry. The major industrial groups are also part of diversified conglomerates that operate in Kurdistan. Find more below on oil and gas companies, contracting companies and diversified conglomerates in Kurdistan.
With the economy booming at unprecedented rate the construction and contracting sector in Kurdistan experienced unparalleled boom over the past 5 years.
Citing just a few short facts in addition to the oil reserves: the region is tipped to hit a 12% contribution to the region’s GDP by 2013; the autonomous region boasts with 450 major projects valued at $21 Billion, of which at least 20% is being funded in part through Foreign Direct Investment (FDI) .
Traditionally, family-owned conglomerates form the back-bone of any emerging economies, especially in the Middle East. Likewise, Kurdistan is rife with―often―family-owned large diversified conglomerates.The list below provides an overview of the most important diversified conglomerates that are crucial to know when doing business in Iraq’s Kurdistan.
According to the Kurdistan Region’s Ministry of Transportation and Communications, there are currently 21 companies providing internet services in Kurdistan. The sector is divided into fixed line operators (that lease out their network but at the same time offer internet services), companies selling the internet, wireless internet service providers (mobile and WiMax) and satellite ISPs.
There are 12 foreign banks present in Iraqi banking sector. Most of the banks are from Lebanon, followed by banks from the Gulf and Turkey.
There are currently 11 Islamic banks operating in Iraq. According to the World Bank statement from 2010, “the Islamic banking activities in Iraq started in 1993, where the Iraqi Islamic Bank for Investment and Development was established as the first Iraqi Islamic bank. Islamic banks now have 83 branches and 1504 employees, with the ratio of branches and employees of the Islamic banks to that of all private banks being broadly similar at 19 percent and 17 percent.
