Board: Kurdistan Region investment projects for 2021 topped $8 billion

ERBIL (Kurdistan 24) – The head of the Kurdistan Regional Government's (KRG) Board of Investment announced on Wednesday that the total amount representing investment projects in the autonomous region of Iraq over 2021 has amounted to over $8 billion.

“In the current year, there were more than $8 billion in investments," said Board Chairman Mohammed Shukri at a press conference in Erbil, adding that "in 2021, the tourism sector’s investment volume reached $7 billion, with $506 million in the agricultural sector, and $356 million for trade."

He continued, "During the current year, we issued an investment guide in the three languages of Kurdish, Arabic, and English, along with 1,500 investment opportunities.”

"We have dealt with the problems of three major real estate projects in each of Erbil, Sulaimani, and Dohuk provinces and 4,500 citizens will benefit from it," the official said, detailing that 

The official went on to say that, in the same time period, the KRG granted investment licenses for a total of 68 projects and that 11 vocational high schools for professional development have been opened so that young people will have access to various job opportunities.

"We have made a decision this year that 75 percent of the workforce for investment projects will be local; from the region," he specified and explained that next year's plans for the Board of Investment will focus more on agriculture and industry development.

Read More: Kurdistan Region to boost agriculture for increased self-sustainability

“With the start of the new year," Shukri explained, "We will have the International Relations Unit of the Board of Investment communicate with foreign companies and investors."

To this end, he concluded, the KRG will hold a general investment conference in early February and one focused on agriculture in March.