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Kurdistan Economy

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Re: Kurdistan Economy

PostAuthor: Anthea » Tue Feb 13, 2024 4:18 pm

PM Barzani delivered ‘very important speech’

ERBIL (Kurdistan24) – Kurdistan Region Prime Minister Masrour Barzani’s speech on Monday at the World Government Summit was “very important,” a British member of parliament told Kurdistan24

British Member of Parliament Nadhim Zahawi, who was also the United Kingdom’s ex-Chancellor of the Exchequer, spoke to Kurdistan24 on the sidelines of the 11th World Government Summit in Dubai, the United Arab Emirates (UAE).

On the inauguration day of the gathering, Barzani delivered his remarks, focusing on pressing issues in the region, including the Kurdish right to self-determination.

“Prime Minister Masrour Barzani delivered a very important speech,” Zahawi said, adding the Kurdish official had highlighted the importance of cooperation among regional actors for the sake of prosperity.

The premier highlighted the “four pillars of progress” that realize “prosperity” for the conflict-ridden Middle East if regional actors work together. They are “political stability, security, economic prosperity and combatting climate change.”

“If we do not tackle the issue of stability, equity in the politics of Iraq, i.e. the Kurds having the ability to be an equal partner in a federal system; if we do not deliver economic prosperity, then the climate change issue will destroy all of us,” Zahawi said.

The audience, including top political, business, and tech leaders, “listened carefully” to the speech, he added.

Barzani on Sunday arrived in Dubai to attend the annual gathering for the third consecutive year. He met with UAE President Sheikh Mohamed bin Zayed on Monday.

Kurdistan Region Prime Minister Masrour Barzani on Monday delivered a speech at the World Government Summit (WGS24), focusing on numerous challenges and issues the Middle East is facing currently.

WGS24 serves as a platform for global leaders to come together and discuss pressing issues that require international cooperation. In an increasingly interconnected world, countries must collaborate and find collective solutions to challenges such as climate change, poverty, and global health crises. Only through global cooperation can we effectively address these pressing issues and work towards a more sustainable and equitable future.

https://www.kurdistan24.net/en/story/34 ... British-MP
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Re: Kurdistan Economy

PostAuthor: Anthea » Thu Feb 15, 2024 9:23 pm

Erbil’s shift to solar power

Against the backdrop of a discontinuous flow of national electricity and the high prices of power generators, Erbil residents are increasingly opting for solar power

"We used to install solar panels once every one or two months," Mawlud Jamil, a specialist who has been installing solar panels in and around Erbil for 20 years, told Rudaw’s Bilind T. Abdullah. "And that was only for big companies and NGOs. But now ordinary people have also taken an interest. We are now installing solar panels daily in the city and in villages," he added, pointing to the increasing demand for solar power in the Kurdistan Region.

Mohammed Hasan, who has been installing solar panels since 2018 said that installing them on his own house has granted him greater freedom and stability. “I have not needed a generator since I installed them because I have 20 to 30 amperes a day, but sometimes I still need national electricity,” said Hasan.

"I am very glad that I have turned to solar panels because they are environmentally friendly and Erbil should be free from smoke and polluted air," he said, referring to the high number of power generators across Erbil neighborhoods.

Aso Sian, a resident of Erbil who has recently decided to move to a farm in Mortka village outside the city, and switched to solar power about a year ago, expressed regret at not having made the shift sooner.

"I have installed the whole system, consisting of six solar panels and two batteries which continuously provide seven to eight amps of electricity daily, for $2,200," he said, adding that he is very comfortable with the setup.

There are reportedly 5,000 public power generators and 3,000 private power generators across the Kurdistan Region, with the vast majority being located in urban areas where the demand is higher compared to remote areas where the population is too small to buy a power generator.

In late 2022, the Oil and Electricity Syndicate in Erbil established a solar power committee for Erbil and its surroundings.

"There has been a lot of demand for solar panels in the past two years, especially after 2022, due to increased awareness and knowledge among citizens, in addition to the lack of continuous electricity," Mohammed Hassan, Deputy Chairman of the committee told Rudaw.

He added that the solar panels have now become cheaper and more cost effective, with the prices of some panels having decreased by 50%.

Hassan noted that while the market for solar panels was valued at around 2 million USD in 2022, the higher demand and awareness regarding environmental issues is expected to cause the figure to triple in 2023.

In May 2023 the government laid the foundation stone for a 25 megawatt solar power plant in Erbil, aimed at providing electricity for the citizens of the Region at more affordable prices. There are currently two solar power plants in the Region generating 3 megawatts of electricity, and the Kurdistan Regional Government (KRG) has revealed plans to build an additional station, generating 100 megawatts of electricity, in Erbil province’s Soran Administration.

https://www.rudaw.net/english/kurdistan/150220242
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Re: Kurdistan Economy

PostAuthor: Anthea » Thu Feb 15, 2024 9:29 pm

President Barzani at Munich Security Conference

Kurdistan President Nechirvan Barzani on Thursday departed for Germany to attend the annual Munich Security Conference (MSC), during which he will meet with senior officials from several countries regarding security issues, said the Kurdistan Region Presidency in a statement

The three-day conference will kick off on Friday.

    “Throughout the conference, the President will engage in meetings with leaders and senior officials to address the security situation and the obstacles confronting peace and stability in Iraq, the surrounding region and the world,” read the statement from the Kurdistan Region Presidency, adding that said that those discussions will constitute “an opportunity to exchange perspectives with the international community and present the viewpoints of the Kurdistan Region on these issues.”
The statement specified that the President “will emphasize the significance of collaborative efforts in upholding peace and stability in Iraq and the Middle East,” emphasizing that he will also engage in dialogues with international leaders to He will engage in dialogues with leaders and officials from different countries to “explore ways of averting further turmoil in the region.”

President Barzani arrived in Munich late Thursday, according to Rudaw reporter on the ground. He has attended previous editions of the prestigious conference.

Kurdistan Region Prime Minister Masrour Barzani also attended the conference last year, where, together with the President, he held a joint meeting with UN Secretary General Antonio Guterres, discussing several key issues.

“The MSC 2024 will once again offer a unique opportunity for high-level debates on the world’s most pressing security challenges. Additionally, the MSC, founded in the fall of 1963, will celebrate its 60th anniversary up to and during the next main conference,” reads the conference’s website.

https://www.rudaw.net/english/world/150220241
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Re: Kurdistan Economy

PostAuthor: Anthea » Tue Feb 20, 2024 11:28 am

Training course for farmers

ERBIL (Kurdistan24) – Sayed Hemin Murad, General Director of agriculture in Erbil, announced on Monday that due to the impacts of climate change a new round of training has been designed for the farmers of Kurdistan

“As a result of this, we deemed it necessary to organize a training session for the wheat farmers, using two percent of the wheat seeds. This marks the third round of training course from the planned five for the Erbil and its surrounding areas,” the director said.

Murad also explained that the first round of trainings was focused on plowing technique and planting, and the second round consisted of composting and raising awareness about the diseases that could impact wheat. “This, the third round, is about supplementary irrigation.”

“In the next week, we will hold another training course in Degala about the supplementary irrigation. We have divided the training into two groups, the first for the farmers in Qoshtapa, Shamamek, and Ankawa; they all will have to attend the training in Erbil. Farmers from Koya, Taq Taq, Degala, and Shaqlawa, which are around ninety in total, will attend the training course in Degala,” he noted.

Additionally, Murad stated that the general directory of agriculture continues to raise awareness about horticulture. “However, for this round of training, the main focus has been wheat farmers.”

The Kurdistan Agriculture Export Initiative, launched in 2022, is central to the Kurdistan Regional Government’s (KRG) progressive reform agenda to diversify the economy and boost the agricultural sector of the Kurdish region.

Under this initiative, for the first time in the Kurdistan Region’s history, pomegranates and potatoes were exported to Gulf markets, with future plans for figs, grapes, and apples to be exported as well.

https://www.kurdistan24.net/en/story/34 ... or-farmers
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Re: Kurdistan Economy

PostAuthor: Anthea » Thu Feb 22, 2024 2:25 pm

PM Barzani Halabja Road Project

The Kurdish leader is expected to inaugurate a strategic project, which involves constructing roads between Halabja, Tuwaqut, and Qlija, along with building the Tuwaqut bridge

Under the current cabinet led by Prime Minister Masrour Barzani, the Kurdistan Region has witnessed the construction of dozens of modern highways, bridges, dams, water refineries, factories, schools, hospitals, and other essential public service facilities despite the many economic challenges the government has faced, including the recent stoppage of crude exports.

During this cabinet, 13 new public hospitals have been built in the Region, bringing the total number of public hospitals to 45.

Multiple health centers and 26 oxygen generation plants have also been built during this cabinet to advance the health sector in the Region.

https://www.basnews.com/en/babat/840286
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Re: Kurdistan Economy

PostAuthor: Anthea » Fri Feb 23, 2024 3:23 pm

Kurdish Pharma company in Dubai

DUBAI, United Arab Emirates - A pharmaceutical company from the Kurdistan Region is attending the International Conference of Pharmacy & Exhibition Event (ICPM), the largest healthcare exhibition in Dubai, along with 130 global pharmaceutical companies, aiming to export and promote its products to the Gulf countries

“We have more than 200 types of [pharmacutical] products that are available from both the private and public sectors and we can distribute them throughout Iraq. We are proud to participate in this conference and be able to import our medicine alongside Arab and international companies,” Aram Mohammed, a doctor and marketing director of Awamedica, told Rudaw.

"Our goal at this conference is to be enrolled in the [Gulf] market, and we have sent supplements to Syria and Yemen, and other countries," Ruha Jarjish, a sales officer at Awamedica, told Rudaw.

In addition to exhibiting the products of the pharmaceutical companies, several academic panels were presented by experts and doctors. According to the participants, these new discussions will help to find new drugs and treatments in the future.

Awamedica is an Erbil-based pharmaceutical company that produces, distributes, and promotes a diverse array of premium-quality essential pharmaceuticals at accessible rates. These products are made available to patients through both public and private healthcare facilities, including hospitals, clinics, and pharmacies.

Four other Iraqi pharmaceutical companies are also participating in the conference, saying Iraq must strengthen its competitiveness in the medical field.

Launched in 2017, the ICPM event stands as a cornerstone in the UAE’s pharmaceutical and healthcare sector. Organized in collaboration with Ajman University, this annual event has emerged as one of the most significant gatherings in the region. The conference consistently draws attention from key stakeholders and experts in the field.

Annually, within the framework of the ICPM platform, professionals from the healthcare, pharmaceutical, biotechnical, and academic sectors, along with various decision-makers, convene to participate in discussions, cultivate new partnerships, conduct business, and devise solutions and strategies aimed at reshaping the pharmaceutical and healthcare sector in the Middle East.

https://www.rudaw.net/english/middleeast/22022024
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Re: Kurdistan Economy

PostAuthor: Anthea » Wed Feb 28, 2024 10:40 pm

Massive fire ravaged Erbil market

The blaze, which raged for over three hours before firefighters brought it under control, consumed 166 shops out of the market's total of 2,400. No fatalities were reported

Both firefighters and civilians were among the injured, with 90 individuals experiencing asphyxiation due smoke inhalation. "Twenty-four of the injured persons required hospitalization but were later discharged home," the governorate said in a statement.

Authorities have formed a committee to investigate the cause of the fire. Eyewitnesses suspect an electrical malfunction may have triggered the blaze.

The Erbil Civil Defense Directorate said over 20 units and more than 100 firefighters were deployed to combat the inferno. The extensive damage inflicted upon the market has left many shopkeepers facing significant losses, with the full extent of the economic impact still under assessment.

https://shafaq.com/en/Kurdistan/Erbil-m ... 00-persons
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Re: Kurdistan Economy

PostAuthor: Anthea » Wed Feb 28, 2024 10:46 pm

UAE winter aid in Kurdistan

The Emirates Red Crescent (ERC) intensified its humanitarian efforts and relief operations to mitigate the effects of winter on the lives of affected people in Kurdistan, who are facing harsh and unpredictable weather conditions

It's representatives in northern Iraq, the ERC distributed winter aid to some 10,000 beneficiaries in camps in Erbil and surrounding provinces.

The aid included winter necessities, such as heating devices, blankets, clothes, children's supplies, and food parcels, to protect those affected by the consequences of low temperatures, extreme cold, and the spread of winter diseases, especially children.

The ERC is boosting its programmes and relief operations to meet the increasing humanitarian needs of refugees and displaced persons who are suffering during winter.

Field reports received by the organisation indicate a lack of heating in camps during cold weather and severe temperature drops at this time of the year. Therefore, the ERC is protecting those affected by winter and providing assistance to help them face their difficult circumstances, in addition to food and other essential necessities.

The ERC said that it is aware of the negative humanitarian conditions caused by shortages of heating materials and winter supplies, especially as the beneficiaries of its aid live in areas known for cold and unpredictable weather.

Its related plan aims to expand the scope of beneficiaries of its winter assistance in Kurdistan and the next phase will witness the implementation of more humanitarian programmes and winter assistance for brothers and sisters in Kurdistan, it added.

https://www.gulftoday.ae/news/2024/02/2 ... -kurdistan
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Re: Kurdistan Economy

PostAuthor: Anthea » Sat Mar 02, 2024 9:57 pm

PM Barzani Invites US Companies to
    Explore Investment Opportunities
Kurdistan Prime Minister Masrour Barzani has invited US companies to explore investment opportunities across various fields in the Region, reaffirming his cabinet’s commitment to diversifying the economy

The prime minister made these remarks during a special reception organized by the US Chamber of Commerce to honor Prime Minister Barzani’s visit to the United States, the Kurdistan Regional Government (KRG) said in a statement.

The event attracted numerous American officials, business leaders, prominent investors, and members of the Kurdish diaspora in the United States, according to the statement.

In his welcoming address, Prime Minister Barzani expressed gratitude to the United States and American investors for their support and investments in the Kurdistan Region. He also discussed the KRG's reform initiatives aimed at diversifying the economy and enhancing infrastructure.

“I thank all the companies that have invested in Kurdistan and those who have interests in coming back to Kurdistan and looking at the opportunities,” PM Barzani added. “It is my great honor to address you and talk about some of the opportunities that Kurdistan has, and I am looking forward to seeing many of you back in Kurdistan.”

The prime minister expressed gratitude to the US companies that have been investing in different fields of the Kurdistan Region, pointing out that the Region is now making efforts to invest in sectors such as agriculture, industries, and tourism, and seeking ways to invite more American companies to invest in Kurdistan.

https://www.basnews.com/en/babat/841229
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Re: Kurdistan Economy

PostAuthor: Anthea » Fri Mar 08, 2024 1:01 am

Invitations for Agricultural Sector Investments

ERBIL (Kurdistan 24) – Agriculture is one of the sectors that the Kurdistan Regional Government (KRG) wants to direct investors to

This comes as a plan to reorganize the investments and pay more attention to other sectors. This decision, which could bring about progress in sectors such as industry, agriculture and tourism, could also reorganize and affect the housing market.

The government is reorganizing the housing sector. New investment licenses will no longer be issued to new housing projects. Projects that are under construction will continue until their completion.

Investments, therefore, will be directed to those areas that have lagged behind or have seen lesser projects or have been targeted less by the investors.

The Chairman of the Kurdistan Board of Investment, Mohammed Shukri, informed Kurdistan24 that the “surge in past housing projects is the primary cause for the pause in such initiatives in the Kurdistan Region. The Kurdistan Regional Government aims to enhance the organization of future housing projects.”

In 2023, 154 projects in the Kurdistan Region obtained investment licenses, amounting to a capital of $4.3 billion. This initiative aimed at restructuring the housing sector in the Kurdistan Region.

For his part, Hoshmand Nazim, an expert in the real estate market told Kurdistan24, “In general, the real estate market has been weak since the beginning of 2024, but this decision of the Kurdistan Regional Government to stop licensing housing projects was timely.”

The Kurdistan Regional Government (KRG) has decided to suspend the licenses of residential projects in the hope that investors will take advantage of the fertile soil of the Kurdistan Region instead of residential projects and invest more in agriculture, industry and tourism in the future.

https://www.kurdistan24.net/en/story/34 ... nvestments
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Re: Kurdistan Economy

PostAuthor: Anthea » Sat Mar 09, 2024 9:47 pm

No money, high prices = bazaars quiet

Kurdistan’s bazaars are quiet ahead of Ramadan because of delays in payments of government salaries and increased prices for certain essential goods

“There is no salary, nothing,” Iskandar Rahim, an Erbil resident, told Rudaw on Friday. “Everything has become so expensive and people do not dare to go to the market.”

Sdiq Ahmad, another resident of Erbil, commented on how quiet the market was when he went to do some shopping.

"If they have salaries, people would buy necessities such as meat, chicken, and other home necessities, but now people cannot afford them,” he said. “People are borrowing money for the month of Ramadan.”

Market vendors say that government delays in distributing salaries have slowed their business and many goods are priced beyond the reach of their customers.

Committees from Erbil’s governor’s office are actively overseeing market activity and plan to expand their monitoring during the holy month of Ramadan to more effectively curb price hikes. Shops are usually busy during Ramadan as people buy special foods for the holy month and clothing ahead of Eid.

“A kilogram of meat has gone up to 20,000 [Iraqi dinars]. It is very expensive,” said Gaylan Maghdid, a butcher.

It has been 40 days since the Kurdistan Regional Government (KRG) last distributed salaries for its civil servants and pensioners.

The government has failed to pay its civil servants on time and in full for nearly a decade. The situation worsened over the past year after Turkey suspended the flow of Kurdish crude oil through the Iraq-Turkey pipeline to its Ceyhan port in March following a ruling from a Paris arbitration court, causing the KRG billions of dollars in losses.

Without the funds to meet its payroll, the KRG has turned to Baghdad, which is sending Erbil 618 billion dinars monthly.

https://www.rudaw.net/english/kurdistan/090320241
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Re: Kurdistan Economy

PostAuthor: Anthea » Mon Mar 11, 2024 12:05 am

Qatari Boost Economic Ties

The Consul General of Qatar in Erbil, Hussein bin Ali, has announced plans for a delegation of investors, companies, and businessmen from Qatar to visit the Kurdistan Region soon, aiming to strengthen economic and trade relations

In a meeting with the Erbil Chamber of Commerce and Industry, Consul General bin Ali expressed Qatar's commitment to enhancing ties with the Kurdistan Region. He emphasized the importance of promoting exchanges between business delegations and facilitating opportunities for Qatari investors in Kurdistan.

"We want to strengthen economic and trade relations with the Kurdistan Region," stated Consul General bin Ali. "In the near future, we will bring a delegation of investors, companies, and businessmen from Qatar. We will provide full facilities for the Kurdistan Region and businessmen."

Gaylan Haji Saeed, President of the Erbil Chamber of Commerce and Industry, welcomed the Qatari initiative and urged Qatari investors to explore the diverse investment opportunities available in Kurdistan, spanning various sectors.

Saeed underlined the importance of expanding and facilitating exchanges between business delegations from both sides. He assured the ECCI's full support and coordination in providing necessary facilities for Qatari companies, investors, and businessmen interested in Kurdistan.

https://www.basnews.com/en/babat/842046
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Re: Kurdistan Economy

PostAuthor: Anthea » Fri Mar 15, 2024 1:38 am

KRG Railway Project

Kurdistan Minister of Construction and Housing Dana Abdulkareem Hamasalih announced on Thursday plans for the private sector to play a pivotal role in the construction of a railway in the Region

A delegation from the Ministry is currently in Spain to initiate the design phase of the railway line connecting the Ibrahim Khalil Border Crossing to the Parvez Khan Border Crossing.

Minister Hamasalih explained that the purpose of their visit to Spain is to assess the design and technical aspects of the Railway Project, which encompasses the construction of the railway line, wagons, and associated vehicles.

The initial phase of the project will involve extending the railway from the Region's Ibrahim-Khalil border crossing with Turkey to the Parvez Khan crossing with Iran.

The project will commence at Iraq's southern Al Faw port and eventually expand to the Region's border with Turkey.

Initially, the focus will be on cargo transport exclusively, as stated by Tavan Omer, Director and Board Member of TenBroeke. TenBroeke has conducted a feasibility study for the project and intends to include it as part of the memorandum.

Earlier in February, Germany's Deutsche Bahn company signed a Memorandum of Understanding (MoU) with the KRG Ministry of Construction and Housing to undertake the construction of the railway.

In early March, Prime Minister Masrour Barzani discussed plans for linking Kurdistan to Iraqi provinces via rail during a meeting with Iraqi Minister of Transport Nasser Hussein al-Shibli.

https://www.basnews.com/en/babat/842516
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Re: Kurdistan Economy

PostAuthor: Anthea » Fri Mar 15, 2024 1:51 am

Iraqi Court Exceeds Authority

The Iraqi Council of Representatives Deputy Speaker, Shakhawan Abdulla, has strongly criticized the Federal Supreme Court's overreach, describing it as venturing into matters beyond its jurisdiction

Speaking to Kurdistan 24, Abdulla labeled the Court as unconstitutional, pointing out that it assumes legislative powers, encroaching upon the domain of the parliament. He particularly denounced the Court's decisions against the Kurdistan Region, branding them unfair and violative of constitutional rights.

The Court intervened in financial affairs, he noted, reducing the allocated budget for salaries of Kurdistan Region civil servants. Despite the Parliament's decision to assign a monthly budget of 775 billion dinars, the Court interfered, lowering the amount which according to him such matters fall outside the Court's scope.

Regarding negotiations with Iraqi Prime Minister Mohammed Shia’ al-Sudani, Abdulla clarified that the demands presented by the Kurdistan Democratic Party (KDP) faction represent the interests of the Region's residents. He emphasized ongoing discussions to resolve the salary payment issue, asserting that PM Sudani's agreement could ensure timely payments to the regional government employees.

Abdulla expressed dissatisfaction with Baghdad's disbursement of the budget, noting that only 59% of the allocated amount for salaries has been received. He reiterated the commitment of both the Kurdistan Regional Government (KRG) and the KDP to safeguard the constitutional rights of the Region's populace.

Warning against potential violations of Kurdish rights, Abdulla asserted readiness to consider Kurdish withdrawal as a recourse if necessary, underscoring the importance of defending the Region’s stability.

https://www.basnews.com/en/babat/842519
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Re: Kurdistan Economy

PostAuthor: Anthea » Fri Mar 15, 2024 8:31 pm

Halabja Industrial City for Economic Growth

Kurdistan Prime Minister Masrour Barzani has decreed the initiation of the Halabja Industrial City project, spanning 400 acres of land

Bargasht Akrayi, a spokesperson for the Kurdistan Region’s Board of Investment, revealed that the construction site is located over three and a half kilometers away from Halabja's center.

Akrayi mentioned that the investor is poised to commence construction pending the completion of administrative procedures. He underscored the project's importance in bolstering the Region’s economic development and job creation.

Plans are underway to establish 8 to 12 industrial zones throughout Kurdistan, with most already having allocated land. These industrial cities are slated for provinces and independent administrations.

Under the ninth cabinet, 105 industrial projects, amounting to over $2.51 billion in capital, have received licensing.

Earlier, Mohammed Shukri, chairman of the Investment Board, disclosed that PM Barzani approved measures to facilitate investor activities, as advocated by the Halabja governor and Investors Union.

On February 22, PM Barzani laid the foundation stone for the Halabja-Tuwaqut-Qalija road and the Tuwaqut Bridge in a ceremony. Additionally, he visited an olive oil production factory in Halabja province, one of the Rasan projects aimed at bolstering local production, trade facilitation, tourism support, and investment in the province.

During his first visit to Halabja province as Prime Minister, he inaugurated various significant projects and inspected several initiatives by the Rasan Group.

The Kurdistan Regional Government (KRG) is planning to construct 11 industrial zones as part of ongoing endeavors to modernize the local economy and diversify income sources for the public. This initiative is expected to stimulate local industry growth, enhance access to food products, and promote economic and agricultural development, ultimately reducing reliance on imports.

PM Barzani also laid the foundation stone for a food processing zone in Dohuk, as part of a series of similar projects to be implemented across the Region.

https://www.basnews.com/en/babat/842545
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