KRG Investment Council discusses eliminating bureaucratic routine, accelerating projects

ERBIL (Kurdistan 24) – The High Council of Investment of the Kurdistan Region convened on Monday to discuss eliminating unnecessary bureaucratic routine in government offices and accelerating investment through digitalizing the process.

During the meeting, headed by Prime Minister Masrour Barzani, the participants stressed various ways to revive and boost investment and reduce administrational procedures in the Kurdish autonomous region, according to a read-out of the meeting from the Kurdistan Regional Government (KRG.)

The Council also noted the importance of creating an electronic portal with a mission to accelerate the investment process and resume unfinished projects, as well as setting up a mechanism on how to change the sectors of investment in the Kurdistan Region, based on the needs of the region.

Since the formation of the KRG’s ninth cabinet in mid-2019, the government has worked to expand the investment process in different fields and has provided the facilities that are necessary for local and foreign investors through amending investment laws and developing electronic services.

The government aims to invest heavily in the sectors of agriculture, tourism, trade and industry. For that reason, the KRG has often invited foreign investors to contribute to the economic development of the region.

The investment board has already introduced ‘One Window’ service, which aims to reduce administration routine in the registration and the implementation of projects.

In the meeting, the Council made several decisions aimed at boosting investment and reviewing licensing process for implementing projects.

Editing by Laurie Mylroie