He said the Invest Kurdistan brand was launched to promote the Region globally and showcase its investment opportunities to international businesses and investors.
ERBIL (Kurdistan24) – The Chairman of the Kurdistan Region Investment Board, Mohammad Shukri, reaffirmed on Sunday that the Kurdistan Region remains open to foreign investors, stressing that the Kurdistan Regional Government’s (KRG) top economic priority is to diversify the economy and reduce its dependence on a single source of revenue.
Speaking at the anniversary ceremony of Invest Kurdistan, the investment attraction brand, Shukri highlighted the government’s ongoing efforts to attract international investment as a key pillar of its economic strategy.
He said the Invest Kurdistan brand was launched to promote the Region globally and showcase its investment opportunities to international businesses and investors.
Shukri noted that, under the direct guidance of Kurdistan Region Prime Minister Masrour Barzani, the KRG has intensified efforts to attract foreign capital by strengthening the Region’s international economic engagement. As an example, he pointed to the Kurdistan Region’s participation in the World Economic Forum in Davos over the past three years.
The Investment Board chairman also praised the KRG’s Department of Foreign Relations and its overseas representations for organizing a series of economic forums with Italy, France, and the Netherlands aimed at expanding investment partnerships. He announced that a dedicated economic forum with Spain will be held in the near future to further promote investment opportunities in the Kurdistan Region.
Highlighting the Region’s investment achievements, Shukri revealed that more than 1,700 investment projects have been licensed across the Kurdistan Region since the establishment of the investment framework in 2006. He said 850 of those licenses were issued during the KRG’s ninth cabinet to both local and foreign investors, representing more than half of all investment licenses granted over the past two decades.
Shukri also emphasized the importance of increasing private sector participation in reconstruction and economic development. He noted that the Investment Board has launched a comprehensive investment initiative targeting the tourism sector across all provinces and independent administrations in the Kurdistan Region.
Concluding his remarks, Shukri assured both domestic and international investors that the Kurdistan Region remains committed to maintaining an investor-friendly environment, pledging the government’s full support for investment projects and business activities throughout the Region.
The KRG on Sunday announced 24 tourism investment projects across all provinces and independent administrations to diversify the economy and boost tourism. The projects offer incentives including government-provided land, 10-year tax exemptions, 5-year customs exemptions, 100% foreign ownership, and full profit repatriation. The developments include resorts, hotels, eco-tourism sites, ski facilities, cable cars, and recreational centers in Erbil, Sulaimani, Duhok, Halabja, Garmian, Soran, Raparin, and Zakho, with applications now open to local and foreign investors.
Read More: KRG Opens 24 Tourism Investment Opportunities with Tax-Free Incentives
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