VIDEO: Former US Ambassador highlights opportunity for Kurdistan’s economic success

Kurdistan has come a long distance, and there is now a chance for lasting economic prosperity, said a former US Ambassador on Sunday.
kurdistan24.net

ERBIL, Kurdistan Region (Kurdistan24) – Kurdistan has come a long distance, and there is now a chance for lasting economic prosperity, said a former US Ambassador on Sunday.

Zalmay Khalilzad, a former US Ambassador to Iraq and current counselor at the Center for Strategic and International Studies (CSIS), delivered a speech during a conference on Kurdistan’s economic development.

Khalilzad emphasized the role of private sectors in creating job opportunities and increasing prosperity in the Region.

The former US Ambassador explained that “lasting prosperity” can come when the private sector in Kurdistan’s economy is booming, especially for the younger generation.

“I am a strong believer that prosperity, lasting prosperity, can come – successful societies can be built when the private sector is thriving,” he said.

Moreover, Khalilzad pointed to the factors contributing to Kurdistan’s recent economic challenges that have had an impact on the Region.

The burden of the Islamic State (IS) war, drop in oil prices, and the uncertainty with the government of Iraq regarding Kurdistan’s budget share have all played a part, according to Khalilzad.

“I’m encouraged by the way that the Kurdish government has managed the situation and the patience and the endurance of the Kurdish population,” he continued.

Additionally, the CSIS counselor mentioned self-reliance should be a priority for the Kurdistan Region, specifically the growth of the private sector.

Building confidence in foreign investors is significant and will lead Kurdistan towards a future of economic success, according to Khalilzad.

“The growth of the private sector, in my view, will help Kurdistan become ever more successful, ever more self-reliant,” he concluded.

 

 

Editing by Ava Homa