Iraq News Now

"Dear Guests,

I would like to welcome you all to the launch of Invest Kurdistan, a platform dedicated to investment in the Kurdistan Region that will facilitate local and foreign investors and provide access to information on investment opportunities in the Kurdistan Region.

I have always argued that the public and private sectors complement each other. This is not just a slogan; we believe it deeply and realize the significance of the private sector's role in the development and progress of the country's economy.

We've overcome difficult challenges in recent years from the coronavirus pandemic and instability in global markets to the political and financial challenges emerging locally and regionally. All of these have thrown up major obstacles in front of us.

Yet, thankfully, with the resilience of Kurdistanis, we successfully overcame these challenges with the direct partnership with Kurdistan's private sector. Therefore, I want to take this opportunity to give a special thanks to the private sector of the Kurdistan Region, who have always stood in support during times of crisis and helped the government and our people.

Ladies and gentlemen, now it is time to move forward with our plan for a brighter future. We want to ensure that investors in the domestic and foreign sectors have greater confidence in Kurdistan Region's market. We have made tangible progress to remove legal and bureaucratic barriers in our investment strategy, but we know there's still much more to do to make it easier for investors.

We know that investment requires a reliable and efficient banking sector, which is why this cabinet took the initiative to develop the banking sector. With teams from my office and international experts, we are working to transform the Kurdistan Region from a cash-based market to one with a reliable banking system that harness new financial technologies.

We are continuously working to digitalize and modernize services that facilitate investment, from business registration to procurement procedures. We have tried to increase efficiency in investment and reduced the processing time for companies. I am certain there is still more to be done in this space. For instance, I want to work with the relevant institutions to expedite our process for providing land for investors.

The Kurdistan Region is stable and peaceful. Its environment and geography are naturally suited for investment in agriculture, tourism, and industry. We have adopted a diversified economic policy, so we support a wide range of investments across all sectors.

There are substantial resources in this country, but human capital is our greatest asset. By investing in our people, we can ensure a brighter future for all of us. Last year, I announced the Kurdistan Innovation Institute (KII) to find and invest in our people's potential. The ideas and innovations of our talented people can become the focus of big projects and local and foreign investors alike can benefit from them.

The region also boasts beautiful and colorful natural environments and landscapes, pleasant weather across all four seasons, ample water resources, and fertile land. Kurdistan's agriculture and food industry present large opportunities for investors.

Our nature and weather also create the best opportunity for tourism investment in the Middle East.

Ladies and gentlemen, we stand alongside the progress of the whole of the Kurdistan Region and Iraq. In other words, we believe that if the Kurdistan Region develops and grows, it will benefit the whole of Iraq. We want the Kurdistan Region to be a gateway, a launching point for companies to work here and in other parts of Iraq.

In the past, Iraq's investment capital and fiscal revenues have not been used well, while citizens in the Kurdistan Region have faced discrimination. Now, however, an opportunity has emerged, and we hope that the Iraqi budget law will be implemented with justice and without political meddling. I have a good understanding with Iraq’s Prime Minister Mohammed Shia Al-Sudani and believe that with the support of all the parties, we can face political and economic challenges together and bring Iraq to the ranks of the developed countries in the world because the whole of Iraq is rich in all respects and only requires good and just management.

Ladies and gentlemen, the Kurdistan Region Board of Investment has announced more than 1,000 investment opportunities in different sectors. Now, as the KRG, we understand and have strategies to develop our region in the interest of both investors and our citizens. We want to do this to create jobs and livelihoods for our people and to revitalize Kurdistan's economy.

I will personally meet closely with local and foreign investors, so that we can learn their remarks and suggestions for improving the process and attracting more investment in this promising land. I hope that this is the start of more investment in Kurdistan across all sectors.

Let's all work together now to have a prosperous and stronger Kurdistan