Fee-free to investment projects
It is understood that in addition to the fees, there were extra charges and some further legal fees for following ups would be taken from the investment services.
ERBIL (Kurdistan24) - On Thursday, the Chairman of the Kurdistan Board of Investment Mohammed Shukri made an announcement about an order issued by the Prime Minister of Kurdistan Region Government Masrour Barzani regarding the fees were the companies charges for handling any projects.
Kurdistan 24 understood that many industrials and factories benefited from that decision by the Prime Minister.
Kurdistan Investment Board’s Chairman stated to Kurdistan 24 “The Premier’s decision to exempt companies and projects from the charges and/or tolls in different respects is to assist the areas that are less progressed,”
“This step is to assist and encourage more projects so to develop Kurdistan’s economy and infrastructure as well as increasing local production.” He added.
Shurkri further explained “There are rules and instructions in investment department at the government. There are a number of fees and fares, by law, were taken from the investment projects. From a total budget towards a project of investment, 1% would be charged in return for the services,”
It is understood that in addition to the fees, there were extra charges and some further legal fees for following ups would be taken from the investment services.
“The Premier made the decision for the areas and places in Kurdistan Region that had less chance in the regional developing phase.” He clarified.
In conclusion the investment is exempted from fees and charges for the less developed areas in the region. In order to focus on such areas so to build factories and significant services are related to urban development construction. Those areas get benefit from the investment projects.