Erbil, Kurdistan Chronicle — The Kurdistan region has been attracting foreign investment for many years. In their latest statement, the Kurdistan Region’s Board of Investment announced that 16 foreign countries have invested billions of US dollars in the region since 2006, contributing significantly to the region's economic growth and development.
According to the spokesperson for the Board of Investment in the Kurdistan Region, there are currently 110 ongoing projects in the region, 45 of which are being undertaken by foreign countries, investing a total of $10.58 billion. These projects are spread across various sectors, including energy, construction, tourism, agriculture, and manufacturing.
The investments made by these foreign countries have been primarily in the energy sector, including oil and gas exploration, development, and production. The United States, Turley, the United Kingdom, and Canada are among the leading investors in the region.
In addition to the energy sector, foreign investment has also been made in the construction, tourism, agriculture, and manufacturing sectors.
Turkish construction companies have been particularly active in the region, building infrastructure projects such as highways and hospitals.
The Kurdistan Regional Government (KRG) has implemented policies to encourage foreign investment in the region, including offering tax breaks, reducing bureaucratic obstacles, and simplifying the investment process. These policies have made it easier for foreign companies to invest in the region, contributing to its economic growth and development.
The Kurdistan Region is expected to continue attracting foreign investment, particularly in the energy sector. The region has significant reserves of oil and gas, and the KRG has been actively promoting the development of these resources.
As the global demand for energy continues to increase, the Kurdistan Region is well-positioned to capitalize on this trend, further driving its economic growth and development.
The 16 foreign countries that have invested in the Kurdistan Region have played a significant role in the region's economic growth and development. As the region continues to develop and expand, it is likely that more foreign investors will be drawn to its many attractions, further driving its economic growth and prosperity.