Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani recently noted the vital role that foreign business and investment must play in the development of the Kurdistan region during the Erbil International Fair.
The four-day trade show brought more than 800 companies from 27 different countries to Erbil, in the largest-ever gathering of foreign businesses in the Kurdistan region.
“We benefit greatly from the involvement of foreign businesses in our economy, not just for the capital they invest, but for the technology, standards and practices they bring with them and most importantly, for the jobs they help to create,” Barzani said in a speech.
He outlined the recent steps that the KRG has taken to improve the business and job-creation climate in the region. Among the steps:
* The formation of a unified regional government in May to help standardize government programs and offices and create more efficiency in government services.
* A new law on foreign and domestic investment has been enacted, which would facilitate the investment process for both international and local business.
* The KRG has maintained a secure and safe environment in Kurdistan. Barzani said that security and safety was the most important contribution the KRG could make to continued economic growth. Businesses, both foreign and domestic, can create jobs and stabilize the economy if they feel safe and secure in their operations, he urged.
“We face many challenges in the Kurdistan region,” Barzani said. “Our government is working hard to find meaningful solutions to problems in the electricity, petroleum and infrastructure sectors. We have many years of neglect to overcome, but we are making progress in building a stable economy and in providing more opportunities for our people to live and work in safety.”
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