Baghdad – IA
The Kurdistan Region confirmed on Tuesday that Iraq has become a suitable environment for attracting capital owners and foreign companies due to security and political stability.
The representative of the Kurdistan region, Fares Issa, said during the World Investor Day conference, which was attended by the correspondent of the (INA): “Investment is of utmost importance in all economies of the world, with the aim of increasing the financial returns of countries, companies and investors in general, and it also contributes to strengthening the national economy, through… Diversifying sources of financial revenues and achieving sustainable development. The success of investment in all countries depends on many factors, including economic and political stability, positive expectations for economic growth, technological progress and innovation in investment opportunities in emerging sectors, as well as government policies, plans and programs that aim and encourage investment, and facilitate procedures. Appropriate taxation and providing an encouraging environment for investors.”
He added, “Iraq today, due to security and political stability, constitutes a suitable environment to attract capital owners and foreign companies, and from this standpoint, we must all cooperate together to provide a better environment, in order to attract investors to develop the economic movement, and strive to put an end to the rentier economy in the country.” Which depends heavily on oil revenues, which are often exposed to price fluctuations in global markets, which directly affects our economy negatively and positively.”
He pointed out, “The Kurdistan Regional Government, in accordance with Investment Law No. 4 of 2006, has granted licenses and licenses to the projects mentioned in the Investment Law, and provided investment opportunities according to the region’s need, as well as supporting investors to import the equipment and raw materials necessary for their projects, and exempting them from taxes and customs duties.” Providing land for projects.
Issa pointed out, “These facilities created a suitable environment for investment in the Kurdistan Region, and through them were able to attract many foreign companies and capital owners, who completed many small and strategic projects in all sectors,” explaining that “the government of Masrour Barzani, what… It is still working according to thoughtful and ambitious plans to attract more companies according to the region’s needs.”
Issa stated, “Cooperation and coordination can be achieved between the investment authorities in the federal governments and the Kurdistan region, in developing solid plans and programs that are compatible with Iraq’s economic reality, and by benefiting from the experiences and expertise of developed countries in this field.”