Kurdistan Economy

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Delal Corniche in Zakho

ERBIL (Kurdistan 24) – Kurdistan Region Prime Minister Masrour Barzani on Monday inaugurated the Delal Corniche in the Zakho Independent Administration, in which he delivered a speech and addressed many pressing issues in the region

As the land elevation surrounding the Delal Bridge's Khabur River is considerably higher relative to the river itself, the corniche roads offer pedestrians convenient walkways along the Khabur’s “ledges.”

In turn, the renovated Delal area intends to boost the city's tourism, entertainment and business sectors, in addition to providing a refined communal area for residents.

At the beginning of his remarks, PM Barzani expressed his gratitude to the companies implementing this project, the Zakho Independent Administration, as well as the people of Zakho.

The Prime Minister also hopes this project will be carried out in all other parts of the Kurdistan Region and noted that "we have delivered our promises.”

“As far as I know, more than 170 projects have been implemented in Zakho recently. We plan to carry out a number of other projects in Zakho in the next phase. One of them is constructing a 60-meter road,” Barzani said.

He also revealed that they intend to build a dam in the city in the near future, which would be located above the Khabur River.

Furthermore, the Premier stated that despite the challenges and obstacles faced by the Kurdistan Regional Government’s (KRG) Ninth Cabinet, they have proven they can overcome difficulties and serve the Kurdistan Region people.

Regarding Erbil-Baghdad negotiations, Barzani added that “In the past, we have sent several delegations to Baghdad to discuss the issue of oil exports from the Kurdistan Region and the implementation of the federal budget law with the Iraqi government. We made several agreements with the Iraqi government, but unfortunately, these agreements were later breached.”

Meanwhile, he underlined that they would continue to protect the Kurdistan Region's constitutional rights.

“A KRG delegation will visit Baghdad in the coming days to reach an agreement with the Iraqi government on sending the Kurdistan Region's share of the budget law,” the Prime Minister added.

Lastly, Barzani reiterated that “There have been complaints about the KRG not distributing salaries on time. I think it is necessary to say that until the oil exports were halted, we distributed the salaries of the Kurdistan Region employees every month.”

https://www.kurdistan24.net/en/story/32 ... e-in-Zakho

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Public Finance Restructuring

Kurdistan Region PM Masrour Barzani on Monday chaired a special meeting to highlight the restructuring of public finances in the Region, focusing on a recent cabinet decision in this regard

The meeting, also attended by Deputy Prime Minister Qubad Talabani, put the emphasis on the Council of Ministers' decision regarding the restructuring of public finances throughout the Kurdistan Region, a KRG statement said.

On May 14, a unanimous decision was reached, authorizing the Prime Minister and his deputy to establish the necessary mechanisms for the swift implementation of the resolution.

"During the meeting, the drafting of mechanisms for restructuring public expenditures and revenues across the Kurdistan Region was also discussed. The participants emphasised that providing salaries to the public is the government's top priority."

Regarding other public expenditures, the regional government decided to distribute public expenditures among regions based on population, consolidating all revenues from the Kurdistan Region into a single bank account, replacing the current percentage-based system.

Additionally, the meeting decided to restructure the banks and treasuries in the Kurdistan Region and connect them via an electronic system. This step aims to safeguard public revenues, promote transparency, and enhance budget planning for a balanced fiscal approach.

The Prime Minister highlighted the ongoing efforts of a team comprising local and international experts to establish an advanced and contemporary banking and finance system in the Kurdistan Region.

"Another important topic discussed during the meeting was the Kurdistan Region's financial entitlements within the draft law of the Iraqi budget, which is currently under consideration by the Finance Committee in the Iraqi Parliament. The Prime Minister reiterated the Kurdistan Regional Government's commitment to the petroleum agreement reached between Erbil and Baghdad on 4 April," the statement added.

The meeting applauded the removal of restrictions on the Kurdistan Region's budget share in Iraq's federal budget draft. Kurdish representatives from various political groups were praised for defending the region's constitutional rights and working to guarantee timely salary payments.

"Lastly, the meeting called upon the Iraqi federal government and coalition groups within the cabinet to fulfil and implement the agreements constitutionally, thereby guaranteeing the rights and entitlements of the Kurdistan Region, just as with any other part of Iraq."

Link to Article - Photos:

https://www.basnews.com/en/babat/808251

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KRG Builds More Roads

The Kurdistan Regional Government (KRG) has allocated 549 million dinars to build modern roads in the town of Khanke in Duhok province

The construction project has now begun, with a large-scale pavement effort underway. The government is also building a 525-meter sewage canal for the town to avoid floods during rainy seasons and contribute to the overall urban planning in the town.

Under the leadership of Prime Minister Masrour Barzani, this KRG administration has prioritized the advancement of infrastructure systems, earning itself the reputation of a "public services cabinet." Despite facing considerable financial and economic obstacles, the government remains resolute in its dedication to modernizing public services throughout the Region.

Throughout its term, the current KRG cabinet has achieved notable strides in elevating public services. This includes the construction of contemporary educational institutions, university campuses, modern roadways, bridges, dams, reservoirs, water treatment facilities, factories, schools, hospitals, and other critical infrastructure networks across the Kurdistan Region.

https://www.basnews.com/en/babat/820183

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Tourism Forum in Zakho

The town of Zakho is hosting a tourism conference on Sunday in an attempt to promote and expand the tourism industry

Representatives from at least 70 tourism companies are taking part in the forum, mostly companies that transport tourists from southern and central Iraqi provinces to the Kurdistan Region, Chya Ameen, the head of the tourism department in Zakho, told BasNews today.

Prime Minister Masrour Barzani inaugurated the Dalal Corniche Tourism in Zakho last week, which spans across 75,000 square meters. It extends over a length of six kilometers along the Khabur river.

Zakho is home to some of the Region's most popular tourist attractions, including the Khabur River and the Dalal Bridge, which attract numerous visitors each year.

The current cabinet of the Kurdistan Regional Government (KRG) aims to capitalize on the natural beauty of the Kurdistan Region to boost the tourism industry. This endeavor aligns with the government's goal of expanding revenue streams and reinforcing the broader economic framework.

As per the Region's Tourism Board, the Kurdistan Region is especially favored by travelers from southern and central Iraqi provinces, accounting for approximately 85 percent of the total tourist influx. The remaining 15 percent consists of foreign tourists.

https://www.basnews.com/en/babat/820515

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Electronic Tourism Guide

The Kurdistan Regional Government (KRG) is planning to design an electronic guide to help tourists get around the Region and its resorts in an attempt to strengthen the tourism sector, a government official says

"We are preparing an electronic tourism guide application that can help local and foreign tourists access the location of tourist spots in the Kurdistan Region, their prices, and services," Ibrahim Abdulmajid, the spokesperson for the Region's Tourism Board, told BasNews today.

The application will be in Kurdish, Arabic, and English, and will have other languages added to it in later stages, Abdulmajid detailed. The application will be available for use by the end of this year.

With its captivating snowy mountain ranges and picturesque landscapes, the Kurdistan Region has gained prominence as a sought-after tourist destination in the broader region. Each year, resorts like Bekhal, Solav, and Dukan magnetize hundreds of thousands of travelers from various corners.

The current cabinet of the Kurdistan Regional Government seeks to capitalize on the Region's natural splendor to invigorate the tourism sector. This aligns with the government's strategy to broaden and diversify revenue streams and consequently reinforce the economic infrastructure. Moreover, the Region's reputation for warm hospitality and stability will significantly contribute to attracting more international tourists.

https://www.basnews.com/en/babat/820693

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Zakho Corniche Tourism to Begin

The Kurdistan Regional Government (KRG) has approved plans to start the second phase of the Dalal Corniche Tourism, a major tourism site in the town of Zakho

"The entire downtown Zakho will be developed into a tourism compound along the Khabur river, with the second phase of the Dalal Corniche Tourism to begin soon," Chya Ameen, the head of the Tourism Board in Zakho, told BasNews today.

This development project will help encourage more tourists to visit the town of Zakho. Eight kilometers from downtown Zakho will be turned into Corniche Tourism, including three kilometers of the second phase."

Zakho boasts some of the most sought-after tourist destinations in the Region, such as the Khabur river and the Dalal Bridge, which draw numerous visitors annually.

The current cabinet of the Kurdistan Regional Government is striving to leverage the natural allure of the Region in order to enhance the tourism sector. This initiative aligns with the government's objective of diversifying sources of revenue and strengthening the overall economic infrastructure.

https://www.basnews.com/en/babat/820782

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Erbil Real Estate Expo

Local investment authorities on Tuesday unveiled Erbil's 4th Real Estate Expo, signaling the Kurdistan Region's growing investment potential in the real estate sector

This international event brought together 250 companies from 15 nations, including major players from China, Germany, and Italy. Their presence underscores the expo's significance as a global platform for showcasing products and services.

In addition to international representation, companies from neighboring regions actively participated, creating a rich tapestry of collaboration. Over 15 construction firms and numerous local real estate entities joined forces in this annual gathering.

Erbil International Fairgrounds set the stage for the grand inauguration ceremony, with local officials and diplomats in attendance, underscoring the event's pivotal role in Erbil's ongoing development.

The Chief of Investment, in his address, reiterated Erbil's commitment to attracting both local and foreign investments as the city prepares for further growth.

Notably, the Kurdistan Region has achieved self-sufficiency in producing vital construction materials like cement and steel, earning accolades from Mohammad Shukri, head of the Kurdistan Regional Government (KRG) Board of Investment. Shukri praised the government's unwavering support for investment facilitation.

Since 2003, following the fall of the Ba'thist regime, Erbil, renowned for its stable security environment, has witnessed a surge in real estate investment.

The region's business-friendly investment regulations have consistently attracted foreign direct investment, resulting in an impressive cumulative investment tally of $66 billion.

The current Kurdistan Regional Government (KRG) cabinet has made strengthening business ties with regional and international partners a focal point, as reaffirmed by the premier, cementing Erbil's status as a global hub for economic cooperation and prosperity.

Link to Article - Photos
https://www.basnews.com/en/babat/820868

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PM Barzani Visits Real Estate Expo in Erbil

Follow link for lots of photos:

https://www.basnews.com/en/babat/821184

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KRG Builds Housing Units

This cabinet of Kurdistan (KRG) has built thousands of housing units across Kurdistan for tenants as part of government plans to reduce tenancy despite economic challenges

The government recently completed construction work on thousands of accommodation units in the province of Erbil, which will be distributed to tenants at a discounted price and on a long-term payment installment scheme.

There are currently at least 9,004 housing units in all provinces and independent administrations, most of them in Sulaymaniyah province. Some are nearing completion, and construction on some is still in progress.

This cabinet of the Kurdistan Regional Government has built thousands of housing units for low-income families. The distribution is as follows: Erbil 1356 units, Sulaimani 3876 units, Halabja 192 units, Raparin 420 units, Garmian 360 units, Duhok 2116 units, Zakho 324 units, and Soran 360 units.

Led by Prime Minister Masrour Barzani, the KRG has made impressive strides in enhancing public services and development of infrastructure systems.

This transformation is visible through building modern housing units, the development of modern hospitals and educational institutions, university campuses, state-of-the-art roads, modern bridges, dams, reservoirs, water treatment plants, factories, and essential infrastructure elements across the Kurdistan Region.

https://www.basnews.com/en/babat/821299

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Thousands of Jobs Created

The job market has boomed during this cabinet of the Kurdistan Regional Government (KRG), with the government having created nearly 200,000 job opportunities over the past four years alone, a source says

"The development and investment projects we have licensed during this KRG cabinet have led to the creation of around 200,000 employment opportunities for local populations in the Kurdistan Region," Mohammed Shukri, the head of Kurdistan Region's Investment Board, told BasNews today.

Moreover, we have issued guidelines making it compulsory for companies to allocate 75 percent of job opportunities to locals and only 25 percent to foreign nationals."

During this cabinet alone, the Investment Board in the Kurdistan Region has granted license to at least 300 development, construction, and investment projects, which have had a significant impact on transforming the Region's overall infrastructure networks.

According to government figures, at least 32,000 companies are operating in the Kurdistan Region, mostly in the sectors of industry, construction, agriculture, farming, and tourism.

This KRG cabinet has earned the reputation of being a "public services cabinet" due to its consistent focus on modernizing public services and developing Kurdistan Region's infrastructure systems.

The government has placed a particular focus on creating job opportunities for the youth through development of all industry sectors, which the government hopes will help diversify revenue sources and cement the Region's economic foundations.

https://www.basnews.com/en/babat/821381

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Building Agriculture Infrastructure

The local government in the province of Duhok has built at least 126 modern storage facilities to store locally produced potatoes in order to ensure they remain fresh until sale time

Potato harvest has increased by 70 percent this year, which will enhance potato exports by a substantial margin, Ahmad Jameel, the head of the agriculture department in Duhok, told BasNews today.

These modern storage facilities will help farmers store the potatoes they harvest in good conditions until sold locally or exported, which the Kurdistan Regional Government (KRG) continues to facilitate for farmers to help promote and develop the agriculture sector in the Region.

The current KRG cabinet has prioritized development of key industry sectors, farming and agriculture in particular, in an effort to both diversify revenue streams and strengthen the overall economic infrastructure in Kurdistan.

The government also pays particular attention to the improvement of infrastructure networks like building modern storage facilities for farmers as part of government plans to build a robust and sustainable farming and agriculture industry.

Through a range of endeavors and initiatives, the government has played an active role in bolstering this vital sector. These efforts include addressing water scarcity issues, implementing incentive programs, and streamlining the export of produce from farmers, including items like potatoes and pomegranates.

https://www.basnews.com/en/babat/821378

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Land for Makhmur Hospital

Kurdistan Region Prime Minister Masrour Barzani on Thursday approved plans to allocate 15 dunams of land for a much needed hospital in the town of Makhmur

This comes after residents of the town of Makhmur submitted a request to the Ministry of Municipalities and Tourism of the Kurdistan Regional Government (KRG), which discussed it with the prime minister recently.

Today, the Kurdish leader approved the request for the 100-bed hospital, which will be built on 15 dunams of land. The hospital is likely to address the pressure and shortages in the town's health sector.

Under the leadership of Prime Minister Masrour Barzani, the KRG cabinet has achieved significant progress in improving public services and advancing infrastructure networks across the Kurdistan Region.

This can be observed in the construction of contemporary housing complexes, the establishment of modern medical facilities and schools, building modern university campuses, the construction of advanced roads and bridges, as well as the building of multiple dams, reservoirs, water treatment facilities, factories, and crucial infrastructure components throughout the Kurdistan Region.

https://www.basnews.com/en/babat/821896

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Cancer Patients Free Medicare

Kurdistan continues to provide free quality medical treatment to people suffering from cancer despite the Region's economic challenges caused by the continued halt of crude exports

The government provides free treatment and diagnosis, including all the tests, examinations, and Positron emission tomography (PET) scans for all cancer patients in Kurdistan, the KRG Department of Media and Information said in a statement on Thursday.

The KRG also sends cancer patients who can't be treated in the Kurdistan Region to developed countries for treatment, and covers their costs.

During the first six months of this year, 910 PET scans were done for cancer patients for free, which cost the government 637 million dinars. One single PET scan will cost $750. During this period, the government also sent 67 cancer patients to the US for examination.

This cabinet of the Kurdistan Regional Government has allocated nearly seven billion dinars annually to buy quality medication for cancer patients. Multiple organizations in the Kurdistan Region contribute to the collective endeavor to provide free medical treatment to cancer patients.

https://www.basnews.com/en/babat/821945

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Potatoes Exported to UAE

Kurdistan Region's farmers have begun exporting hundreds of tons of potatoes to the the United Arab Emirates (UAE) on a weekly basis, a move facilitated by the Kurdistan Regional Government (KRG)

"Every week, we are exporting 300 to 400 tons of potatoes to the the United Arab Emirates through containers," Kurdistan 24 quoted Bashar Mushir on Tuesday, a potato trader in the Kurdistan Region.

Since last month, nearly 1,000 tons of industrial potatoes have been exported to the UAE, Mushir added.

The Kurdistan Regional Government facilitated the signing ceremony of a contract between Kurdistan's and UAE traders in August of this year. According to the contract, at least 5,000 tons of industrial potatoes will be exported to the UAE this year alone.

The current cabinet of the Kurdistan Regional Government has placed a strong emphasis on advancing crucial industrial sectors, with a special focus on agriculture and farming. This strategic direction is geared towards broadening sources of revenue and bolstering the overall economic underpinning in the Kurdistan Region.

To achieve these goals, the government is actively engaged in a range of initiatives. These initiatives encompass addressing issues related to water scarcity, implementing incentive schemes, and streamlining the export of agricultural goods such as potatoes, pomegranates, rice, and sumac.

https://www.basnews.com/en/babat/822321

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Agricultural Exports Expand

Kurdistan is currently exporting half of the eggs produced from local egg factory farms amid continued government efforts to promote local farming and agricultural products

"During the past four years, we have been able to increase the number of egg factory farms from 11 to 37. This has grown daily egg production from 3,000 boxes to 14,000," Rezhin Sidiq, the head of animal products at the Ministry of Agriculture and Water Resources of the Kurdistan Regional Government (KRG), told BasNews today.

Half of the eggs produced in the Kurdistan Region is currently being exported to southern and central Iraqi provinces, Sidiq added.

The KRG has reduced electricity fares for egg factory farms and also exempted egg farmers from tax in an attempt to promote and develop the agriculture and farming industry across the Kurdistan Region.

The current cabinet of the Kurdistan Regional Government is prioritizing the development of key industrial sectors, particularly agriculture and farming sectors, as part of a strategic effort to diversify revenue streams and strengthen Kurdistan Region's economic foundations.

To realize these objectives, the government is actively involved in various activities. These activities include tackling water scarcity issues, introducing incentive programs, and optimizing the export process for agricultural products like eggs, potatoes, pomegranates, rice, and sumac.

https://www.basnews.com/en/babat/822421