Over $11 billion invested in Kurdistan Region during KRG’s ninth cabinet: Board

Most of the investment projects during this three-year period were made in 2020, when 77 were started.

Kurdistan 24 2022/04/11 11:19

An aerial view shows the citadel of Arbil, the capital of the northern Iraqi Kurdish autonomous region, Dec. 13, 2021. (Photo: Safin Hamed/AFP)

Kurdistan Krg Ninth cabinet Masrour Barzani Kurdistan Region

ERBIL (Kurdistan 24) – The Kurdistan Region’s Board of Investment announced that over $11 billion has been invested in projects in the autonomous region since the current cabinet entered office.

The Board’s figures cover all the investments that have been made since July 2019, when the ninth cabinet headed by Prime Minister Masrour Barzani was inaugurated, until early April 2022.

The money has been invested in various projects, including health, real estate, trade, banking, tourism, agriculture, education, and sports by Kurdish and foreign companies as well as joint ventures, according to a statement from the Board on Sunday.

The Kurdistan Region’s capital Erbil has received the lion’s share of the projects with 76. Sulaimani came second in the ranking with 46. Duhok received 42 projects, while Halabja had only one.

Most of the investment projects during this three-year period were made in 2020, when 77 were started.

Prime Minister Barzani has repeatedly reiterated his government’s willingness to foster investment opportunities to diversify the autonomous region’s economy.

The prime minister recently made a number of trips to the Gulf countries to accelerate the government’s efforts to attract more foreign investments in the Kurdistan Region.

During the Industrial Forum held in the capital Erbil in early March, the prime minister said that the KRG will fully facilitate the work of domestic and foreign investors in rebuilding the autonomous region and developing its economy.