‘There are a lot of investment opportunities for UAE in the Kurdistan Region’: UAE official

“The UAE as a state, institutions, and companies has become a reliable partner for many countries.”

Dler S. Mohammed 2021/12/08 15:43

A screen grab from an online symposium for increasing UAE investment in the Kurdistan Region, Dec. 7, 2021. (Photo: UAE Consulate General in Erbil)

Kurdistan UAE investment in Kurdistan Region Kurdistan Region Investment

ERBIL (Kurdistan 24) – The United Arab Emirates (UAE) Consulate General in Erbil held an online symposium on Tuesday to discuss increasing UAE investment in the Kurdistan Region.

Secretary-General of the UAE International Investors Council Jamal Saif Al Jarwan briefed the participants of the symposium on the work of the council, which supports Emirati companies investing in foreign markets all over the world.

Al Jarwan confirmed that his country’s policy of helping UAE companies invest abroad has been very successful. The value of UAE investment abroad is estimated to be more than $1.5 billion.

“The UAE as a state, its institutions, and companies have become a reliable partner for many countries,” Al Jarwan said. “UAE companies are on the top of the lists for regional and international activities related to investment.”

He also revealed that the UAE leadership and government institutions are seeking investment opportunities in Iraq and the Kurdistan Region.

He added that there are a lot of investment opportunities in the Kurdistan Region, and confirmed that the UAE and its companies are willing to work in the autonomous region.

The participants of the symposium discussed the idea of organizing a forum between the UAE and the Kurdistan Region to enhance the UAE’s investments in the region. They suggested discussing the idea with the Kurdistan Regional Government (KRG) Investment Board.

The head of that Investment Board, Mohammad Shukri, said the KRG and his board seek to expand foreign investment in the autonomous region in the near future. As part of this, it wants to attract more UAE companies.

“One of the KRG investment laws puts the foreign investor ahead of the local investor,” Shukri said. “This is a mechanism to encourage foreign investment.”

The symposium was also attended by the Consul-General of the United Arab Emirates (UAE) to Erbil, Ahmed Aldhaheri, the Head of Kurdistan Region Investors Union Syndicate, and representatives from various UAE companies, including Fly Dubai, Carrefour, Dana Gas, dnata, Islamic National Bank, Al-Mansouri company, and TAQA company