100 Dutch Companies Willing to Work in Kurdistan
|June 19, 2012||Filled under Iraq Daily News|
ERBIL (AKnews) – About 100 Dutch companies have showed willingness to come and work in the semi-autonomous Kurdistan Region of Iraq for the first time, it was announced today.
The development comes following a visit by a large Dutch delegation to Kurdistan for an economic forum last week which promoted Kurdistan Region and looked at prospects for Dutch investors.
The Chamber of Commerce and Industry is planning a meeting with the representatives of the companies to see what areas they are interested in and provide facilities accordingly, says Azad Ahmed, the PR official of the Chamber.
Kurdistan Region has been the hot spot for investment in Iraq since 2003 and is regarded as one of the Middle East’s best growth prospects in 2012. According to statistics released by the Investment Board, the region has attracted some $16.2 billion (19 trillion IQD) in foreign investment over the past five years.
“The coming of this number of Dutch companies will encourage more European companies to enter the Kurdish region “ said Dara Jalil Khayat, head of the Chamber of Commerce and Industry. “we will offer facilities for the companies that the Kurdistan Region needs their expertise and abilities [for reconstruction]”
Kurdistan Region’s boom in foreign investment has been accredited to its accommodating Investment Law, passed in 2007. The law provides incentives for foreign investors including the possibility of owning land, up to 10 year tax holidays, easy repatriation of profits and removal of tariffs on exports and imports related to the project.
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