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KUALA
LUMPUR, Sept 21 (Bernama) - Power supply and
housing are among the sectors that offer vast
potential for foreign investors to tap in Kurdistan,
in northern Iraq.
Prime minister, Kurdistan Regional Government, Iraq
Omer Fatah Hussein said that foreign investors are
welcomed to invest in all sectors, especially
housing as most of the houses had been destroyed
during the previous government's ruling.
"Kurdistan is quite stable in terms of security and
economic activities compared to other parts of Iraq.
Benefits like land (for development) as well as
security will be provided by Kurdistan for the
foreign investors," he said.
He said that Kurdistan is rich in natural resources
like oil and gas, mineral, cement and marble, which
are waiting to be tapped, however the region did not
have the technology to take advantage of these
resources.
He said that investments could be made through an
investor's 100 percent-owned company or
joint-venture agreements with the Kurdistan
government or private sector in the region.
He said that besides power supply and housing,
investors could also invest in sectors like
agriculture, telecommunications, construction and
mining.
Meanwhile, Kurdistan's Board of Investment Promotion
Head K.M Mohamad said that Kurdistan required plenty
of foreign direct investment as it was in the
process of reconstructing its infrastructure.
"For example, in electricity, we need companies
which can provide us with the necessary facilities
that can help in sourcing electricity properly to
the whole of Kurdistan," he said.
Mohamad said that the board was specially set up to
provide the necessary information for foreign
investors and private sector as well as facilitating
business partnerships.
"There is a big opportunity to invest in all sectors
in Kurdistan. Currently, about 254 foreign companies
are operating in Kurdistan with involvement in
various kinds of projects," he said.
Kurdistan refers to a territory of 520,000 sq. km
spreads over different countries in the Middle East
namely Iran, Iraq, Turkey and Syria.
In Iraq, the Kurds live in the north, in an
autonomous area of 36,000 sq. km. The capital is
Arbil (Hewler).
The total population of the Kurds is 30 million. In
Iraq, there are about four million Kurds, who run
their own administration.
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