Kurdistan Region can be a gateway to investment in other parts of Iraq: PM Barzani

ERBIL (Kurdistan 24) – Kurdistan Region Prime Minister Masrour Barzani on Monday gave a  speech at the Invest Kurdistan Launch, where he underlined that Invest Kurdistan will help facilitate local and foreign investors and provide access to information on investment opportunities in the Kurdistan Region. 

Our gateway for investors across the world @InvestKRI. Visit to explore the untold opportunities.https://t.co/yJpbUO350e#InvestKurdistan pic.twitter.com/kaQR9A2tyK

— Masrour Barzani (@masrourbarzani) June 19, 2023

“I have always said that the public sector and the private sector complement each other. This is not just a slogan, we believe in this and we apprehend the significance of the private sector's role in the development and progress of the country's economy,” he said. 

Moreover, he said the Kurdistan Region has overcome difficult challenges these past years, including impacts of the coronavirus pandemic, instability of global markets, and political and financial problems of local and regional areas.

“All of these became major obstacles in front of us. Thankfully, with the resilience of Kurdistanis, our plans to overcome that difficult phase were a success, with the direct partnership with Kurdistan's private sector. Therefore, I take this opportunity to give a special thanks to the private sector of the Kurdistan Region, who have always stood in support in times of crisis and helped the government and our people,” he stated.

Read More: Invest in Kurdistan: A new guide for investment

‘Invest in Kurdistan’ is a guide, created by the Kurdistan Region’s Board of Investment (BoT). The 64-page guide in English displays investment opportunities for foreign investors.

It aims to promote the Kurdistan Region as a gateway to the growing markets of Kurdistan and Iraq, as well as the wider markets of the Middle East and Europe.

“We  want to ensure that investors in the domestic and foreign sectors have greater confidence in Kurdistan Region's market. We have made tangible progress to remove legal and bureaucratic barriers in our investment strategy. We've made progress but we know there's more to do to make it easier for investors,” PM Barzani said in his speech.

Moreover, he underlined that investment requires a reliable and efficient banking sector. “That's why in this cabinet we took the initiative to develop this sector. With teams from my office and international experts, we are working to transform the Kurdistan Region from a cash-based market to a market with a reliable banking system.”

He also emphasized that the Kurdistan Region is a stable and peaceful region. “Our region's environment and geography are encouraging for investment in agriculture, tourism and industry. We have adopted a diversified economic policy, so we support diversified investments in all possible ways,” he added. 

Later, he underlined that the growth of the Kurdistan Region will benefit all of Iraq. “We want the Kurdistan Region to be a gateway and the beginning of companies to work here and in other parts of Iraq.” 

Barzani  stressed that he has a good understanding with Iraqi Prime Minister Mohammed Shia Al-Sudani. “I believe that with the support of all parties, we can face political and economic challenges and together we can bring Iraq to the ranks of developed countries in the world. Because the whole of Iraq is rich in all respects and only requires good and just management.”

“The Kurdistan Region Board of Investment has announced more than 1,000 investment opportunities in different sectors. Now as the KRG, we understand and have strategies to develop our region in the interest of both investors, and our citizens. We want to do this to have created more jobs for our people and revitalize Kurdistan's economy,” the PM stated.

The PM concluded by adding, “And I will personally meet more closely with local and foreign investors, so that we can hear their remarks and suggestions. I hope that this is the start of more investment in Kurdistan across all sectors. Let's all work together to have a prosperous and stronger Kurdistan.”