KRG Ninth Cabinet authorized 206 projects since 2019: KRG

ERBIL (Kurdistan 24) – The Kurdistan Regional Government (KRG)'s Ninth Cabinet has implemented 206 investment projects since assuming office on July 27, 2019, the KRG said in a statement on Monday.

The #Kurdistan Regional Government's Ninth Cabinet has implemented several projects and authorized numerous others since assuming office on July 27, 2019.https://t.co/OsWs3F8pkV

— Kurdistan Regional Government (@Kurdistan) August 15, 2022

“In the past three years, the Cabinet has authorized the implementation of 206 investment projects with a total budget of $11,629,355,000 in different areas of the Kurdistan Region. Crucially, of those 206 projects, 202 are conducted by local investors,” the KRG said.

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

The KRG said that during 2019, the Ninth Cabinet authorized 64 investment projects with a budget of $2,706,412,264, all of which were undertaken by local investors.

However, in 2020, the investments and economy in the Kurdistan Region were negatively impacted by the spread of the COVID-19 pandemic. “The Ninth Cabinet authorized 76 projects that year; however, owing to the impact of the pandemic, only two were conducted,” the KRG said.

“These projects were undertaken in cooperation with foreign investors, and the total budget stood at $1,979,524,500.”

In 2021, the cabinet authorized 70 investment projects with a budget of $8,515,645,864, including the rollover of some “2020 projects delayed owing to the impacts of the COVID-19 pandemic.”

Read More: KRG ninth cabinet yielded ‘good results’: Deputy PM Talabani

Of these projects, only one was conducted by foreign investors. Another was a joint project between local and foreign investors.

In the first six month of 2022, 44 investment projects with a budget of $648,980,424, all of which were conducted by local investors.

Categorized by province, the Erbil province has had 88 projects implemented, with a budget of $8,911,758,113 during the past three years.

This while the Sulaimani province has had 53 projects with a budget of $1,594,915,213.

Moreover, the Duhok province has had 48 projects with a budget of $598,413,798 and Halabja province has had one project with a budget of $6,846,000.

The Garmian administration has had 11 projects and Raparin administration five, with budgets of $391,992,439 and $125,429,481, respectively.

“These projects focused on numerous different sectors, including trade, banking, industry, services, education, agriculture, residential, tourism, and sports,” the KRG said.

Today Kurdistan Region Prime Minister Masrour Barzani is set to participate in the 3rd real estate and investment fair, four-day Invest Expo, on Tuesday in the capital Erbil.

Nearly 180 companies from 12 countries are attending the fair.