Over 3,000 foreign companies registered by KRG Ninth Cabinet

ERBIL (Kurdistan24) – There are more than 32,000 companies registered in the Kurdistan Region, of which 3,362 are foreign companies, according to figures released on Wednesday by the Kurdistan Regional Government’s (KRG) business registration bureau.

In the KRG Ninth Cabinet, companies were registered electronically. The cost of establishing companies has been reduced by 80 percent, leading to more foreign companies investing in the Kurdistan Region.

The KRG Ninth Cabinet boasts that its new electronic business registration system has reduced startup costs by 80 percent, leading to more foreign entrepreneurship in the Region.

“Our factory produces various kinds of construction materials. The KRG facilitates our work here,” Shaheen Kamal, the managing director of a Turkish cement factory in Erbil, told Kurdistan24.

Meanwhile, Blind Muhammed, a senior business registration official, told Kurdistan24: “Foreign companies operate in various fields, such as agriculture, petroleum, and [construction]. Their capital ranges from $500,000 to $1 million, which is crucial for creating jobs in the Kurdistan Region.”

In June, the KRG announced an online platform for business registration as part of the Ninth Cabinet's efforts to reduce excessive bureaucratic obstacles and administrative burdens.

Read More: KRG announces digital business registration platform

Editing by Dastan Muwaffaq