Baghdad – IA – Wissam Al-Mulla
The representative of the Kurdistan region, Fares Issa, confirmed today, Tuesday, that Iraq has become a suitable environment for attracting capital due to security and political stability, while pointing to cooperation with the federal government in developing the economic movement and attracting investors.
Issa, who represented the region during the World Investor Day conference in Baghdad – and was attended by the (INA) correspondent – said: “The Kurdistan Regional Government has – in accordance with Investment Law No. 4 of 2006 – granted licenses and licenses to the projects mentioned in the investment law and provided investment opportunities according to “The need of the region, as well as supporting investors to import the equipment and raw materials necessary for their projects, exempting them from taxes and customs duties, and providing land for establishing projects.”
He added, “These facilities created a suitable environment for investment in the Kurdistan region, and through them the region was able to attract many foreign companies and capital owners, who completed many small and strategic projects in all sectors,” explaining, “The regional government is still working in accordance with Thoughtful and ambitious plans to attract more companies according to the region’s needs.”
He stated, “It is possible to cooperate and coordinate between the investment authorities of 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.”
He continued, “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. It also contributes to strengthening the national economy, by diversifying sources of financial revenues and achieving sustainable development.”
He added, “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 are purposeful and encourage investment, facilitate appropriate tax procedures, and provide an encouraging environment for investors.” .
He stressed, “Iraq today, due to security and political stability, constitutes an appropriate environment to attract capital owners and foreign companies, and from this standpoint, we are cooperating with Baghdad together to provide a better environment; in order to attract investors to develop the economic movement, and seek to put an end to the rentier economy in the country, which depends on… This greatly affects the revenues of oil wealth, which are often exposed to price fluctuations in global markets, which directly affect our economy negatively and positively.”