Kurdistan Region grants 900 investment permits since 2019
Shafaq News- Erbil
The Kurdistan Region of Iraq (KRI) has issued more than 900 official licenses for investment projects since 2019, while reaching self-sufficiency in most construction materials, Kurdistan Region Investment Authority Chairman Mohammed Shukri said on Thursday.
Speaking
at the Erbil International Construction and Building Exhibition, which brings
together 450 local and foreign companies over four days, Shukri outlined the
Kurdistan Regional Government’s (KRG) continued support for the private sector
and its efforts to encourage participation in reconstruction and development,
particularly in industry.
‘’KRI currently produces more than 21 million tons of cement annually, while reinforcing steel production exceeds 4 million tons a year,’’ he added, as authorities work to expand markets for these products in other Iraqi provinces and develop export opportunities abroad.
The Investment Authority is also seeking to broaden domestic production to include bricks, electrical cables and other electrical materials, as well as white cement, he said.
The four-day Erbil International Construction and Building Exhibition opened today, bringing together specialized companies from 20 Arab and foreign countries. The opening ceremony was attended by senior Kurdistan Region officials, heads of chambers of commerce and diplomatic representatives, describing the event as a platform for boosting economic activity, attracting investment and supporting infrastructure development across Iraq, including the Kurdistan Region.
Companies from Iraq, the United Arab Emirates, Britain, Germany, India, France, Switzerland, Qatar, Turkiye, China, Iran, Egypt, Jordan, Pakistan, Lebanon, Portugal, Greece, Japan, South Korea and the United States are all taking part in the exhibition.
