Kurdistan's Economic Council cuts red tape, grants provinces investment authority
"I convened our Economic Council to review our reforms and public finances. Our priority remains a strong, diversified economy that meets the needs of our people."
ERBIL (Kurdistan 24) – The High Economic Council of the Kurdistan Region on Sunday granted provincial governments the authority to issue investment licenses as part of efforts to cut bureaucratic red tape.
"I convened our Economic Council to review our reforms and public finances. Our priority remains a strong, diversified economy that meets the needs of our people," Kurdistan Region Prime Minister Masrour Barzani tweeted.
Members of the council stressed the importance of protecting local products and preventing price manipulation, a statement from the premier's office said. They also discussed ways to promote economic growth, improve living standards, and reorganize government revenue and spending.
Prime Minister Barzani pointed to his cabinet's concerted efforts to "secure salary payments" to government employees while continuing to provide public services and create job opportunities for the people of the Kurdistan Region.
The officials also addressed collection tax mechanisms and appointed Deputy Prime Minister Qubad Talabani to supervise government works on the issue.
"We also delegated investment powers to provincial authorities to reduce red tape — in line with the cabinet agenda," Prime Minister Barzani concluded in his tweet.
Since its formation in July 2019, the current Council of Ministers has sought to enact a sweeping reform agenda that includes changes to the public sector, strengthening the Kurdistan Region's official institutions, enhancing security including the Peshmerga forces, and combating corruption with economic transparency and fair trade practices to resolve endemic problems.