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PM Barzani: KRG will spare no effort to facilitate domestic and foreign investments

Category: Kurdistan

Date: 2022-03-06T14:15:02+0000
PM Barzani: KRG will spare no effort to facilitate domestic and foreign investments

Shafaq News/ Kurdistan Region Government (KRG) will do everything possible to facilitate local and foreign investment to rebuild the Kurdistan Region, Prime Minister Masrour Barzani said on Sunday. 

The prime minister's remarks came during a speech he delivered at the Industrial Forum for Developing Market and Job Opportunities in Erbil. 

At that event, he also highlighted the progress the autonomous region has achieved in the industrial sector and the importance of peaceful and friendly Erbil-Baghdad relations for economic prosperity. 

Members of the diplomatic community in the Kurdistan Region and ministers and investment officials participated in the conference that featured three panels. 

The prime minister highlighted the strategic projects that have been implemented during his cabinet's tenure in various sectors of the autonomous region. These projects aim to build a robust economic infrastructure to generate diversified revenues. 

"Throughout the ninth cabinet, many vital strategic projects have been completed across the Kurdistan Region in various sectors, such as roads, industry, electricity, agriculture, and tourism," Barzani said. 

These projects were completed despite obstacles posed by the economic crisis caused by Baghdad cutting the region's budget, decreasing oil prices, and COVID-19 restrictions.

He added that some of the projects had been done via public-private partnerships and expressed his appreciation for the private companies that had joined the KRG in implementing "vital projects". 

Barzani said some of the main themes of his visits to other countries and meetings with world leaders are commercial exchanges, finding a market for local products, and job opportunities for the youth through attracting foreign investment. 

The KRG will fully facilitate the work of domestic and foreign investors in rebuilding the Kurdistan Region and developing its economy, he said. 

During the conference, Barzani instructed the relevant officials to remove all the barriers and obstacles and facilitate a better environment in the industrial sector.

"The KRG has robust plans and agendas for developing the industrial sector, particularly the food industry, petrochemicals, minerals, and providing raw materials for small and medium industries, and building dedicated zones for such businesses," the prime minister told attendees. 

Barzani stressed the importance of Erbil-Baghdad relations and political stability for the ambitious projects that the Kurdistan Region has planned to succeed. 

"We believe the Kurdistan Region's development is in the interest of all the Iraqi people. And this is how our Iraqi brothers and sisters should look at the Region's development and not create hurdles and issues for it," the prime minister said. 

The developments that the Region has witnessed so far have been brought about despite limited financial resources and revenues at the government's disposal. 

"Instead of supporting and appreciating these developments, unfortunately, a number of parties are trying to obstruct and punish the Kurdistan Region," he said. "What benefits have Iraq's conflicts and destruction brought to the people?"

Barzani reiterated that the KRG seeks good relations with the federal government and will fully defend its constitutional rights.

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