About 200 British companies operating in Kurdistan Region, reveals KRG Investment Board head

ERBIL (Kurdistan 24) – Mohammed Shukri, the Chairman of the Kurdistan Board of Investment, on Friday told Kurdistan 24 on the sidelines of the Iraq Britain Business Council (IBBC) in Dubai that it is crucial the Kurdistan Region continues to participate in the IBBC meetings.

The Chairman said that Kurds are currently included among the Iraqi representation in the conferences, panels, and meetings, but that there should be more Kurdish entrepreneurs. It is an “opportunity to further introduce the Kurdistan Region abroad,” especially in investment.

Shukri added that the second day of meetings of the Council focused on several topics: agriculture, the manufacturing industry, banking oppression, trade-in dinars, and dollars, as well as facilities for implementing investment projects.

“Among the main topics to be discussed are the MyAccount Initiative and the regulation of the market and banks, which is the initiative of Prime Minister Masrour Barzani,” he added.

In his speech, Shukri revealed that about 200 British companies, along with 3,300 other international companies, currently work in the Kurdistan Region, in the sectors of education, food, transportation, health care, industry, oil, and gas.

Earlier in November, the UK’s Nadhim Zahawi gave a speech in length at the Middle East Peace and Security Forum (MEPS) in Duhok, where he spoke about British-Kurdish economic ties, including an urgent need for Kurds to diversify their economy.

“I think the KRG, with a prime minister completely enlightened and committed to diversifying and modernizing his economy, is an excellent candidate to become a leader in that field,” Zahawi revealed.

Moreover, former UK Prime Minister Boris Johnson also gave a speech at the MEPS23 Forum, where he noted that trade between the UK and the Kurdistan Region is increasing by "83% year-on-year. One company in Halabja alone last year exported 22 tons to the United Kingdom.”