The Kurdistan Regional Government (KRG) has renewed its commitment to attracting foreign investment and diversifying the economy. Officials say reducing dependence on a single source of revenue remains a top economic priority.
Speaking at the anniversary ceremony of the Invest Kurdistan initiative, Investment Board Chairman Mohammad Shukri said the Kurdistan Region remains open to local and international investors. He described foreign investment as a key pillar of the government’s long-term economic strategy.
Shukri explained that the Invest Kurdistan brand promotes the Region globally. It also highlights investment opportunities for international companies and investors. He added that the government has increased its efforts to attract foreign capital and strengthen economic relations with global partners.
Under the leadership of Prime Minister Masrour Barzani, the KRG has expanded its international economic engagement. Shukri pointed to the Kurdistan Region’s participation in the World Economic Forum in Davos during the past three years. He said these meetings helped showcase the Region’s economic potential.
The Investment Board chairman also praised the KRG’s Department of Foreign Relations and its overseas offices. They organized economic forums with Italy, France, and the Netherlands. He announced that the Kurdistan Region will soon hold a similar forum with Spain to encourage new investment partnerships.
Shukri revealed that authorities have licensed more than 1,700 investment projects since 2006. He said the KRG’s ninth cabinet issued 850 licenses to local and foreign investors. This figure represents more than half of all licenses granted over the past twenty years.
The government also announced 24 new tourism investment projects across the Kurdistan Region. The developments include hotels, resorts, eco-tourism sites, ski facilities, cable cars, and recreational centers. The projects will spread across Erbil, Sulaymaniyah, Duhok, Halabja, Garmian, Soran, Raparin, and Zakho.
Officials said investors will receive attractive incentives. These include government-provided land, a 10-year tax exemption, and a five-year customs exemption. The projects also allow full foreign ownership and profit repatriation.
The KRG believes these initiatives will strengthen tourism, increase private-sector participation, and support long-term economic diversification. Officials also assured local and foreign investors that the Kurdistan Region will continue to provide a stable and investor-friendly business environment.
