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FINANCIAL NEWS
Dubai’s FDI reaches USD3.5b in Iraqi Kurdistan
02 Apr 2015
(MENAFN) Dubai’s foreign direct investment (FDI) in Iraqi Kurdistan reached USD3.5 billion as the government is eying amplified investments, Kurdistan’s Minister of Municipality and Tourism said, Gulf News reported.
Among Dubai’s top investors, in the much politically-troubled country, are Emaar and Meydan standing tall as the biggest foreign investors with regard to business value. Turkey and Lebanon come next, according to the Minister.
The Kurdish government previously allocated 720 licenses for regional and foreign investments with an estimated value of around USD42 billion over the last eight years, with foreign investments marking 20 percent of the overall value of all investments.
“However, there is still of bureaucracy in business registration as it might take six months to complete, an obstacle [that] should be eliminated to ease investment across Kurdistan,” the Minister said in a statement.
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