Foreign Investment in Kurdistan at $5.5 billion; UAE Among Top investors

Rudaw News 22.Jan.2014

BARCELONA, Spain – Foreign direct investment (FDI) in the Kurdistan Region stands at $5.5 billion, and the United Arab Emirates is among the top investors, according to a senior Kurdish official.

The comments by Nawroz Mohamed Amin, vice chairwoman of the Kurdistan Investment Board, came at a panel discussion in Erbil of Kurdish officials and a visiting delegation from the Dubai Chamber of Commerce and Industry (DCCI), which reported the remarks in a statement.

“Kurdistan has adopted a new policy to encourage investment in certain sectors which has resulted in a massive investment development leading to USD 5.5 billion FDI,” the statement quoted Amin as saying.

It reported her saying that, “UAE investments in the region stood at US$2.5 billion which is far below both sides’ capabilities and expectations.”

Amin called on UAE investors to increase their investments in the region and highlighted the attractions offered to foreign investors in Kurdistan, including land allotment at competitive prices, tax exemption and equal opportunities for local and foreign investors.

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