Kurdistan Economy

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Erbil Tourism Booms

The Erbil Tourism Board announced on Saturday that approximately two million tourists visited the tourist attractions of Erbil province in the first half of this year, a significant increase attributed to the stability of Kurdistan

This summer, the tourist attractions have been bustling with visitors from central and southern Iraq, as well as from foreign countries.

According to the figures provided by the Erbil Tourism Board, the influx of tourists can be credited to the Region's stability and its favorable temperature difference compared to other Iraqi provinces.

Assad Kalsho, who traveled to Erbil with his family from the United States, shared with Kurdistan 24: "Overall, the situation in the Kurdistan Region is calm, stable, beautiful, and cleaner compared to other Iraqi provinces. We need to communicate and work together to enhance the services in the country, which is why we chose this destination."

"Shaqlawa and Erbil are both popular tourist destinations. I encountered friendly and welcoming people. You feel at home. They don't care about your background, whether you're Kurdish, Muslim, or follow any other religion," he added.

Zirak Biko, the president of the Erbil Hotels Association, informed Kurdistan 24 that the Kurdistan Government (KRG) has granted a 20 percent discount on tourist attractions and taxes, which will assist hotel owners in offering improved services.

The substantial increase in tourism not only highlights the Region's appeal but also underscores the successful efforts of the KRG in promoting Erbil as a safe and attractive destination for both domestic and international visitors.

https://www.basnews.com/en/babat/854872

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Duhok exports 10,000 tons of watermelons

ERBIL (Kurdistan 24) – Duhok province has seen a significant increase in agricultural productivity this year, with 6,098 dunams of land dedicated to watermelon cultivation alone, according to Ahmad Jameel, Director of Agriculture in Duhok

Jameel reported that this year's watermelon production reached 21,343 tons, with 9,949 tons set to be exported to central and southern Iraq. The favorable climate in the region has allowed watermelons to ripen earlier, contributing to this abundant yield.

Overall, from the beginning of 2024 until July 25, Duhok has exported 129,647 tons of various domestic products to other parts of Iraq.

This boost in exports has encouraged more farmers to engage in agriculture, contributing to the province's growing economy.

In addition to watermelons, Duhok farmers have planted significant areas with other crops: 10,838 dunams of tomatoes, 8,941 dunams of cucumbers, 1,296 dunams of eggplants, 37,333 dunams of potatoes, 12,722 dunams of raspberries, and 8,755 dunams of onions. Smaller-scale crops like cherries, apples, peaches, and beans are also being cultivated and exported to Iraqi provinces.

The continued success in agricultural production is vital for both the local economy and the broader food supply in Iraq, reflecting the resilience and adaptability of Duhok's farming community.

https://www.kurdistan24.net/en/story/36 ... re-thrives

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KRG Boosts Fish Resources

The Kurdistan Regional Government (KRG) has significantly enhanced fish resources in the Region, largely due to the construction of new dams and ponds

This initiative has not only increased the availability of fish but has also provided a substantial boost to the local economy. Redir Sadqi, Director of Livestock Resources in Duhok, highlighted the positive impact of these projects, stating that the development of dams and ponds has led to a marked increase in fish stocks across Kurdistan.

In addition to boosting fish resources, the construction projects have created thousands of jobs, offering new economic opportunities for local communities. Fish farming and related projects have become a vital source of livelihood for many citizens, with some individuals also benefiting from fish hunting as a new means of income.

According to official data, there are currently 413 licensed fish projects operating within the Kurdistan Region. These projects collectively produce 4,700 tons of fish annually, although this falls short of the Region's domestic demand, which exceeds 80,000 tons per year. To further support fish production, the KRG has announced the release of about 80,000 fingerlings into the Chamrga and Khins dams this year.

These efforts underscore the government’s commitment to enhancing local food security and creating sustainable economic opportunities in the Region. The expansion of fish resources through infrastructure development continues to play a crucial role in supporting the livelihoods of many residents in Kurdistan.

https://www.basnews.com/en/babat/857654

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KRG expands prepaid electricity system

ERBIL (Kurdistan24) – Over 11,000 electricity customers in Duhok province, who utilize the prepaid electricity system, now have access to 24-hour national power, according to Hazim Mohammed, Deputy Director General of Electricity for Duhok. He made the announcement on Tuesday in an interview with Kurdistan24, highlighting the benefits of the ongoing smart meter project

The Ministry of Electricity of the Kurdistan Regional Government (KRG) has been expanding the use of prepaid electricity systems throughout the Kurdistan Region. Mohammed emphasized that this system not only benefits citizens but also supports government efforts in improving efficiency.

The prepaid system has been operational for two years in areas such as Avro City, the French Village in Duhok, and the Amedi district. As part of future plans, all national electricity users in Duhok will be transitioned to the prepaid system. However, the transition will depend on further guidelines from the Council of Ministers and the Ministry of Electricity.

Under the prepaid system, subscribers buy electricity units in advance, which allows them to better manage their consumption. Mohammed outlined three main advantages: cost savings for citizens, reduced strain on the power grid, and improved revenue collection for the government.

He further explained the pricing structure, stating that households and residential units pay 18 dinars per kilowatt of electricity, while villas and commercial properties are charged 150 dinars per kilowatt.

According to the Ministry of Electricity, 1.3 million smart meters have been installed across the Kurdistan Region, serving a total of 1.8 million customers. The government aims to fully implement the prepaid system to ensure more efficient power distribution and revenue management.

https://www.kurdistan24.net/en/story/36 ... -thousands

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Construction of 20,000 housing units

Erbil (Kurdistan 24) – The Kurdistan Region has commenced the construction of 20,000 housing units as part of a significant initiative directed by Prime Minister Masrour Barzani to address the housing needs of low-income families

This development was announced on Tuesday by Mohammed Shukri, Chairman of the Kurdistan Board of Investment.

Shukri informed Kurdistan24 that construction on some of these housing units is already underway, while others are set to begin soon.

"The construction of 20,000 housing units has begun by the decision of Prime Minister Masrour Barzani. The construction of about 10,000 more apartments is waiting for the funds and will be resumed," Shukri stated.

The initiative includes the development of two new cities specifically designed for tenants in Ankawa and Garmian, along with additional sites in Erbil that will cater to low-income residents and tenants.

Shukri emphasized that Prime Minister Barzani is committed to reducing the financial burden on the poorer segments of society through these projects, which will be supported by both Iraqi and Kurdistan banks.

Highlighting a key project in Ankawa, Shukri announced that the foundation stone for the Ankawa housing unit project is scheduled to be laid in September, with completion expected within 24 months.

This project is particularly significant as it will provide housing for Christian tenants. Additional projects across Erbil and other regions are also planned, each with a projected completion timeline of about two years.

To make these housing units more accessible, Shukri noted that payment installments would be adjusted according to citizens' income levels, with monthly payments ranging from 100,000 to 150,000 dinars over a period of 15 years or more.

He also reiterated Prime Minister Barzani's commitment to ensuring that low-income families and tenants benefit from these investment projects. Importantly, those who purchase housing units under this initiative will still be eligible to receive government land.

This ambitious housing initiative is part of the Kurdistan Regional Government's broader efforts to support low-income families and improve living conditions across the region.

https://www.kurdistan24.net/en/story/36 ... -directive

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Livestock Ready for Export

There are 620 livestock and poultry projects in Erbil province, with plans to expand into poultry exports, an agricultural official said

Hemn Sayed Murad, Director General of Agriculture in Erbil, told BasNews that the province has 570 poultry production projects in the livestock sector.

He also listed 20 egg production projects and 26 duck production projects, along with four slaughterhouses, confirming that all these projects are ready for export.

“The total amount of livestock products in Erbil far exceeds domestic needs and must be marketed abroad. The Kurdistan Regional Government has made significant efforts and provided many facilitations for this,” he stated.

“The Iraqi federal government often creates obstacles for the production of livestock and poultry in the Kurdistan Region, and these obstacles must be removed,” Murad added.

“The ninth cabinet has made considerable progress in developing the livestock and poultry sector and has provided extensive support and facilitation to enhance domestic production and market it effectively,” he explained.

https://www.basnews.com/en/babat/859006

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Imports regulated to Stabilize Tomato Prices

Sayed Hemin Murad, the General Director of Agriculture in Erbil, discussed on Saturday recent measures taken to stabilize tomato prices and support local farmers during an interview with Kurdistan 24

"Last week, the price of tomatoes reached between 1,500 to 1,750 dinars per kilogram because we had opened the border checkpoints. We later decided to control imports again to protect farmers and boost domestic production," Murad stated.

Highlighting the importance of supporting local agriculture, Murad explained, "We don't allow imports because we are aware that when domestic production in one area stops, it begins in another." Currently, tomato production is in full swing in areas like Haji Omaran, Sidakan, Shekhan, and Penjwen. The local supply from these regions has met the market demand, driving prices down to between 350 and 750 dinars per kilogram.

Murad further noted that farmers have now been permitted to export their produce, with over 100 tons of tomatoes recently sent to Baghdad. This step aims to maintain a balance between the interests of farmers and local buyers. "If the price falls too low, farmers bear the loss," he added.

Murad praised the effectiveness of the Directorate’s plan, which was designed to keep local production competitive and prevent market flooding with imported tomatoes. "The plan was 100% successful; domestic production is expected to meet local needs," Murad said. He emphasized that while prices were temporarily high, this approach ensured that farmers would not incur losses, and imports were kept out of the Kurdistan Region markets during critical production periods.

https://www.basnews.com/en/babat/859024

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Key to Diplomatic and Decision-Making

Erbil, the capital of the Kurdistan Region, has evolved into a crucial center for decision-making and diplomacy, influencing both Kurdistan and Iraq, according to diplomatic experts and political analysts

Over the past 28 years, the city’s economic development and advancements in public services have significantly enhanced its stature on the national stage.

Political analyst Farhad Kakeyi highlighted Erbil’s strategic importance, stating, "If any world leader visits Iraq without engaging Erbil, their decisions or recommendations are unlikely to succeed. Iraq has struggled to form successive governments without Erbil's support." Kakeyi pointed to the city's unique atmosphere of coexistence as a driving force behind its development, with progress in services, infrastructure, and trade setting Erbil apart from other Iraqi provinces.

Hama Farj, an expert in diplomatic relations, echoed Kakeyi's sentiments, noting that decisions made in Erbil not only shape the future of the Kurdistan Region but also have a substantial impact on Iraq as a whole. Farj credited this influence to the strategic leadership of Masoud Barzani, president of the Kurdistan Democratic Party (KDP), whose vision has been instrumental in elevating Erbil’s role in both national and international affairs.

Erbil’s rise as a diplomatic and political hub underscores its growing importance in Iraq’s political landscape, where its decisions and actions increasingly influence critical national issues. This transformation reflects Erbil's expanding role as a center of influence, both within Iraq and beyond.

https://www.basnews.com/en/babat/859034

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Kurdistan-UK Trade Agreement

Kurdistan Prime Minister Masrour Barzani met with a British delegation led by Oliver Christian, the United Kingdom’s Trade Commissioner for the Middle East and Pakistan, to discuss opportunities for further developing relations between the two sides

The meeting, which was also attended by Andrew Bizley, the UK Consul General in the Kurdistan Region, saw PM Barzani acknowledging the UK's continued support and assistance to the Kurdistan Region.

He expressed his desire to enhance bilateral relations, particularly in the areas of trade and investment.

The British Trade Commissioner highlighted the strategic importance of the Kurdistan Region and its potential to strengthen ties between the two sides, according to an official statement from the Prime Minister's Office.

Following the meeting, and under the supervision of PM Barzani, an agreement was signed between the Kurdistan Region and the UK. This agreement focuses on trade development and identifies priority areas for growth, including agriculture, health, human resource development, and technology.

https://www.basnews.com/en/babat/859315

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Compensation for retailers in Qaisary Bazaar

ERBIL, Kurdistan Region (Kurdistan 24) – Erbil Governor Omed Khoshnaw announced in a press conference that the Prime Minister, Masrour Barzani visited Qaisary Bazaar market in Erbil on Thursday

“A disaster struck Qaisary market in Erbil, but the following day, Prime Minister, Masrour Barzani visited the market and made sure for the retailers that every effort will be made to find out the perpetrators of the crime and support them”

“The Prime Minister told the retailers and traders that the Kurdistan Regional Government will do everything in its power to compensate the damage caused” Khoshnaw added.

The Governor further explained the Prime Minister revisited Qaisary market today, for several purposes:

“Questioning of what’s done, so far. We gave him an explanation. Also, the nature of the reconstruction route and how it is conducted, which always emphasizes the urgency of the work so that retailers can return to work” Khoshnaw continued “the aid will be handed out next week to those whose shops were burnt, which was 247 shops, each of them according to the size of the damage”

It was disclosed by Khoshnaw the mount of money that is helped each affected retailer with, between two million dinars and 20 million dinars, beside their shops are being reconstructed.

https://www.kurdistan24.net/en/story/36 ... ary-Bazaar

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Visit Zakho Forum Boosting Tourism Prospects

Chia Amin, the Director General of Tourism for the Zakho Independent Administration, announced on Thursday that the "Visit Zakho" tourism forum concluded successfully

Speaking to Kurdistan 24, Amin highlighted that the event was held at both regional and national levels, involving the Kurdistan Region and Iraq. The forum attracted participation from over 30 Iraqi tourism companies and 40 local companies, aiming to enhance the tourism sector in Zakho and increase its appeal to a larger number of holidaymakers.

The forum focused on advancing the tourism industry in Zakho, aiming to position it as a prominent destination for tourists. Regarding future projects, Amin noted that work on the second phase of the Zakho resort is ongoing and is expected to be completed by March next year.

Amin also provided updates on the Qshly Zakho project, stating that it is set to be completed within the next two months and will soon be available to serve both domestic and international tourists. Additionally, two religious projects related to Christian and Yezidi communities are nearing completion in the Rizgari sub-district.

Amin reported that nearly 500,000 tourists visited Zakho up until June this year. The administration estimates that by the end of the year, the number of holidaymakers visiting Zakho's tourist attractions could reach between 1.5 to 2 million.

https://www.basnews.com/en/babat/860290

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Saudi Office Opens in Erbil

Saudi Arabia officially opened a Trade Representative Office in Erbil on Thursday, aimed at strengthening trade relations between the Kingdom and Kurdistan

The agreement to open the office was signed by Saudi Arabia's Ambassador to Iraq, Abdulaziz al-Shammari, and Dr. Mohammed Shukri, Chairman of the Investment Board of the Kurdistan Regional Government. Shukri hailed the opening as a pivotal step in expanding economic cooperation between both sides.

"The opening of this office is very important, because it will open more doors for trade between Saudi Arabia and the Kurdistan Region and will facilitate businessmen on both sides," Shukri told BasNews.

The new office will not only assist with business, investment, and economic activities but will also streamline processes for Hajj and Umrah pilgrimages. Its broader scope is expected to improve the ease of movement for investors and employers.

During the ceremony, Shammari reiterated Saudi Arabia’s commitment to strengthening economic and trade ties with the Region, underlining the importance of continued collaboration in various sectors. The establishment of the office is seen as a significant step toward deepening bilateral relations between Saudi Arabia and Kurdistan.

https://www.basnews.com/en/babat/860957

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Smartphone factory opens in Erbil

A smartphone assembly plant has opened in Erbil. It will employ dozens of local workers and partner with a Chinese company, according to the Kurdistan's investment board

“The factory was established by a Kurdish businessman with the help of the Chinese. The needed components are imported from China,” Bargasht Akrayi, spokesperson for the investment board, told Rudaw on Friday.

The new business has created dozens of jobs, most of them going to local workers, including Yazidis who survived the Islamic State (ISIS), according to a social media post by the investment board.

The factory operates in collaboration with Infinix, a Chinese smartphone company, and is expected to assemble 30,000 phones monthly. Initially, only one phone model will be released, with more to follow later.

The phones will be physically robust with secure software

China has recently stepped up its diplomatic efforts in the Middle East and is increasingly a key actor in regional affairs.

Trade between Iraq and China is growing, surpassing $50 billion in 2023, Iraq’s Ambassador to Beijing Shoresh Khalid said in May.

https://www.rudaw.net/english/kurdistan/20092024

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Russia trade with Kurdistan improving

Russia’s trade ties with the Kurdistan are becoming stronger, the spokesperson for the Russian foreign ministry said on Friday

“Our consulate general has been operating in Erbil for a long time. There is an exchange of formal delegations between us. Our trade relations are developing. The improvement of relations is in the interest of both sides,” Maria Zakharova told Rudaw in a press briefing on Friday.

Maxim Rubin, Moscow’s consul general to Erbil, told Rudaw in June that Russia has “historic” ties with Kurds in the Kurdistan Region and is committed to strengthening the centuries-long relations, despite current difficulties.

Russian oil companies Lukoil, Gazprom Neft, and Rosneft have operations in the Kurdistan Region and in oilfields in southern Iraq.

In December, Lukoil acquired an additional 20 percent of the massive Eridu oil field in southern Iraq’s Dhi Qar province after a Japanese company sold half its stake, bringing Lukoil’s stake in the field to 80 percent.

Kurdish oil exports through a pipeline through Turkey have been halted since March 2023.

https://www.rudaw.net/english/world/20092024

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French-Kurdistan Economic Forum

The first French-Kurdistan Economic Forum will be held in Paris, featuring participation from dozens of investors

Scheduled for Monday, September 23rd, the forum is coordinated by the Kurdistan Government's Investment Board and the French Economic Movement.

On Sunday, Yann Braem, French Consul General in Erbil, described the conference as "very important," believing it will foster direct economic relations between companies in Kurdistan and France.

"French companies can take advantage of the investment opportunities available in Kurdistan through the forum," he stated.

"We have a trustworthy and friendly relationship with Kurdistan, which is both significant and diverse. We want to continue enriching our economic relations, which will directly impact the relationship between France and Kurdistan," Braem added.

"The French companies are among the most advanced in the world in the construction and infrastructure sectors. We also have a very active, internationalized economy, supported by leading companies," the French Consul noted.

"France possesses strong expertise in the field of smart cities and environmentally friendly long-term development; these are the characteristics and qualities we aim to showcase to companies in Kurdistan during the forum," he explained.

The French Consul General urged investors to "make our projects a reality, allowing the unique relationship in the world to be reflected in the economy."

Bargasht Akrayi, spokesperson for the Kurdistan Government's Investment Board, told Kurdistan 24 that approximately 60 investors from various sectors in Kurdistan and dozens of French investors will participate in the Paris conference.

"The aim of the conference is to strengthen and develop economic relations between Kurdistan and France. Politically and diplomatically, Paris and Erbil have very good relations, and we want this excellent relationship to be reflected in the economic field," Akrayi revealed.

"Through the forum, we aim to encourage French investors to come to Kurdistan and invest in various sectors. To facilitate this, the Investment Board of the Kurdistan Government will provide all necessary support," he noted.

"We want to make the conference an opportunity to promote Kurdistan's local products in France," he added.

https://www.basnews.com/en/babat/861218