SULAIMANI (ESTA) — The Kurdistan Regional Government (KRG) is planning to build a number of industrial zones in the Region, an official said on Wednesday.
Spokesman of KRG Ministry of Trade and Industry Fathi Mohammed said the ministry had already selected areas for the industrial zones in coordination with the board of investment.
“The ministry of trade and industry is planning to build or develop 11 industrial zones,” Mohammed told Esta Media Network, noting that the zones will provide more job opportunities to the Region’s people.
Three of them will be located in Erbil, four in Sulaimani and the rest will be in Duhok, Halabja and Garmian, he continued.
“They will also be a good opportunity for the local and foreign investors,” he added.
Mohammed further said private sectors would be building the projects but the government would supervise them.
“Some [investors] have come forward so far, including UAE and Jordan as foreign investors. But local investors have paid much attention to it,” he noted.
There are 3,566 local factories and companies in the Kurdistan Region, according to Mohammed. As for foreign investors, there are more than 1,600 Turkish companies in the Region, occupying first position in the rank. Iranian and UAE companies come in second and third, he said.
The Kurdistan Region had attracted a total capital of $52.6 billion for investment from August 2006 until December 2020, including 56 percent in Erbil province, 32% in Sulaimani and 12% in Duhok, according to a report by the KRG board of investment.
The report showed that 83% of the total investment in the past 14 years was carried out by local investors, nine percent by foreign investors, and eight percent by both foreign and local investors.
