ERBIL (Kurdistan 24) – The new Kurdistan Regional Government (KRG) will facilitate and foster a more investment-friendly environment for foreign business interests who are looking to enter various markets in the autonomous Kurdistan Region, said Prime Minister Masrour Barzani on Monday.
Barzani’s comment came during a meeting with the Sri Lankan Ambassador to Iraq, Niranjan Asoka Ranasinghe, in Erbil.
The Sri Lankan envoy congratulated Barzani on the formation of his new cabinet and highlighted the importance of strengthening bilateral relations between the two nations, according to a statement released by the press office of Barzani.
The foreign diplomat underlined his country’s interest in investing in the Kurdish autonomous region and affirmed their participation in the coming Erbil International Fair, where they will exhibit Sri Lankan products to the people of the Kurdistan Region.
In the meeting, Barzani outlined his cabinet’s mission for the next four years, which includes diversifying the economy as one of the government’s most important goals, notably in the agricultural sector, the statement added.
The new KRG cabinet plans to implement some serious reforms to create a stronger and diversified economy to “deliver more prosperity to its people.”
The Kurdistan Region has so far greatly depended on the energy sector, which generates the lion share of the KRG’s revenue. The new cabinet, however, aims to encourage investment in the sectors of industry, agriculture, and tourism, according to the government’s stated mission.
“We will create the right regulatory framework to encourage foreign and domestic entrepreneurs, make it easier to do business in Kurdistan and invest in infrastructure across the region,” read the KRG mission.
Editing by Nadia Riva