KRG announced the implementation of 201 projects for more than $11 billion in three years

An aerial view of the Kurdistan Region’s capital of Erbil. (Photo: Kurdistan 24)
An aerial view of the Kurdistan Region’s capital of Erbil. (Photo: Kurdistan 24)

ERBIL (Kurdistan 24) – Kurdistan Region’s Department of Media and Information announced the implementation of 201 investment projects in the past three years in different parts of the region, with a capital of more than 11 billion dollars.

The department said in a statement on Friday evening that the Kurdistan Regional Government permitted the implementation of 201 investment projects with a capital of 11.5 billion US dollars on an area of ​​10,603 dunums in different areas of the Kurdistan Region.

The statement added that the projects were distributed among the provinces and independent administration units, and most of these projects were implemented in the Erbil province.

In 2019, at the beginning of the ninth cabinet, 16 projects received licenses, all of which were applied and implemented by local investors, with a capital of $485,204,256. In 2020, when the Covid-19 pandemic spread around the world and the Kurdistan Region was not exempt from its negative effects, 76 projects received licenses, two of which were jointly implemented by local and foreign investors.

The total project capital amounted to $1.984 billion, of which $1.976 billion was invested by local investors and $17.5 million through joint ventures.

In 2021, the projects continued, as 70 different projects obtained licenses, of which only one project was through foreign investors, one joint venture, and 68 other projects were implemented by local investors with a capital of $8.5 billion.

In the first six months of 2022, the Kurdistan Regional Government granted 35 licenses for projects in various fields with a capital of $330,696,265 all of which were implemented by local companies.

Edited by NA