KRI's Tourism and Investment Conference concludes with key recommendations

KRI's Tourism and Investment Conference concludes with key recommendations

Shafaq News / The Tourism and Investment Conference in the Kurdistan Region (KRI) concluded its proceedings and activities over the past two days in Erbil. Several key recommendations emerged from the conference, with the foremost being the provision of necessary support and facilitations for investors to execute projects in the region.

During the conference, a gathering of companies, entrepreneurs, and representatives from tourism and investment institutions in the region convened on September 5-6 in Erbil. The conference was held under the patronage of the Deputy Speaker of the Iraqi Parliament, Shakhwan Abdullah.

According to a statement released by Abdullah's office, he outlined his vision for the needs, requirements, and ideas that would enhance partnerships and cooperation to facilitate the investment process in various sectors.

Following several discussion sessions and side meetings between the attendees and representatives of regional institutions, addressing challenges and opportunities, and deliberating on the pursuit of ideas to streamline development in the region and facilitate investor engagement, the participants arrived at a set of recommendations:

-The participants believe that KRI represents a promising and secure investment environment capable of attracting equitable returns on investments.

-Emphasizing the desire to establish a facilitation and connectivity platform to serve as an intermediary and gateway to investment opportunities, including matters related to visas, laws, and cooperation with tourism and investment institutions in the region.

-Efforts should be made to eliminate obstacles and reduce bureaucracy to make it more flexible and smooth for investors to participate in supporting development in KRI.

-A review of tax regulations and an increase in incentives for investors should be considered.

-Encouraging partnerships between local and foreign capital.

-Developing policies, mechanisms, and banking systems in Iraqi banks to create appropriate financial and credit flexibility.

-Emphasizing partnerships in developing human capital for tourism and investment institutions through human development courses.

-Continuing to hold periodic investment conferences for discussion and exhibitions to present available opportunities and coordinate between specialized parties and stakeholders.

-Urging the regional government (KRG) to collaborate with research centers and universities in KRI to conduct geological studies of the soil to identify mineral extraction points and present them as investment opportunities.

-Also, calling on KRG to open an investment window to expedite administrative procedures for investors.

-Any additional recommendations proposed by attendees can be submitted in writing to the conference organizers.

Furthermore, last Tuesday, the Minister of Culture, Tourism, and Antiquities, Ahmed Fikak Al-Badrani, called on Iraqi investors in the field of tourism to undertake projects in KRI. This came in his address during the Tourism and Investment Conference in Kurdistan, held in Erbil.

In his speech, Al-Badrani stated, "I invite investors from all Iraqi governorates in the field of tourism to invest in KRI," adding that KRI, represented by Erbil, Duhok, and al-Sulaymaniyah, will remain the destination of choice for Iraqi and foreign tourists.

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