US-Kurdistan Business Council Chief Sees Region as Emerging Regional Business Hub
In an interview with Kurdistan24 released Tuesday, Tafuri said the region continues to attract business interest despite delays in budget payments, challenges facing oil and gas companies, and instability in neighboring countries.
ERBIL (Kurdistan24) – David Tafuri, the head of the US-Kurdistan Business Council, said the Kurdistan Region has strong potential to become a regional business hub, citing its security environment, investment-friendly laws, and growing economic development despite ongoing regional conflicts and financial challenges.
In an interview with Kurdistan24 released Tuesday, Tafuri said the region continues to attract business interest despite delays in budget payments, challenges facing oil and gas companies, and instability in neighboring countries.
He praised development projects in Zakho, particularly the city's riverfront, describing the area as an example of how investment in public spaces can promote tourism, improve residents' quality of life, and inspire similar projects elsewhere in Iraq.
Tafuri attributed the Kurdistan Region's investment appeal to its relative security and legal framework, noting that the Kurdistan Regional Government (KRG) had introduced laws placing foreign investors on an equal footing with domestic investors.
The US-Kurdistan Business Council is a nonprofit organization based in the United States that supports American and other Western companies seeking investment opportunities in the Kurdistan Region. Tafuri said that the council has brought numerous companies to the region, with many expressing positive impressions after visiting and meeting KRG officials.
He identified oil and gas, mining, technology, and security as sectors offering investment opportunities. He also highlighted the potential for the Kurdistan Region to serve as a base for companies seeking to expand into Syria, following a joint business delegation's visits to Damascus and the Kurdistan Region.
However, Tafuri identified several obstacles, including drone attacks, disputes between Erbil and Baghdad over oil exports and payments, and the lack of a Kurdistan Region constitution. He said these challenges could undermine investor confidence and urged political leaders on both sides to resolve their differences and cooperate to attract more Western investment.
He also called for the adoption of a mining law to help investors advance projects in a sector he said holds significant potential in the Kurdistan Region.
Tafuri expressed hope that stronger economic ties, improved cooperation between Erbil and Baghdad, and continued development would help expand investment and strengthen the region's position as a regional business hub.