Investments in Kurdistan, Iraq $ 17 billion

Announced «Investors Union» in Iraqi Kurdistan, that the volume of investments in the region reached $ 17 billion. The spokesperson for «Investors Federation», Yassin Mahmoud, said the investment projects in Kurdistan, and reached an advanced stage, especially those that started to work, including the project plant iron and steel in the district of the ridge, at a cost of $ 1.1 billion, as well as other projects in the region and pointed to the that the Kurdistan Region occupies the seventh position in the Middle East in terms of the value of investments, and is considered the city of Arbil, the fifth largest city in the region in terms of investment activity and to draw Mahmoud that the first beneficiary of the investment projects is the Territory's economy, noting that 80 thousand of its citizens working in those projects to this, a number of foreign investors and the Arabs, the Iraqi investment law as it stands does not encourage investment. The Director of the Coordinating Bureau of the German in Iraq, Miraon Olver: «German companies are not encouraging to enter into investment projects, an Iraqi ... Several problems facing the investment, most notably the investment law adopted, because it is obscure, and the funds of foreign investors are not immune to ». He continued: «amend the investment law will encourage companies to enter the German investment to the country» and the «Investment Authority» Iraq confirmed that this year will see the development in the investment business, particularly in the implementation of service projects, especially housing and basic services. A source in the company «Group of Kuwait» regional, that «Iraq is one of the important pillars of the Kuwaiti investors, but the law investment not encouraged to engage in investment projects large», hoping to provide better conditions for Arab and foreign investors »and approved the« Investment Authority » In 2006 a new law to invest in Iraq, which is responsible for all strategic investment projects of a federal nature, to be regional and provincial bodies responsible for investment planning and granting investment licenses in their areas
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