11 June 2013

Erbil, Kurdistan Region, Iraq (KRG.org) - In the June edition of The Review, the KRG’s Natural Resources Minister discusses the new law on financial dues from federal revenues,  which authorises the KRG to sell oil to recover unpaid dues by Baghdad. 

The law was passed by the Kurdistan Parliament in April 2013. In an interview with the bi-monthly publication, Minister Ashti Hawrami said, “The new law sets out a pathway to implement Iraq’s Constitution, and by implementing the Constitutional requirements for power and wealth sharing, everyone in Iraq will benefit, citizens and investors alike.”

Minister Hawrami also talked about the energy agreements with Turkey and the refining industry. The June edition of the Review highlights oil and gas and includes interviews with Kurdish and international oil company executives. It also features updates on the real estate, telecom, industry, and water sectors. 

Wael Ghanayem, Chief Financial Officer and Chief Executive Officer of Zain, in The Review discussed the mobile operator’s decision to expand in Kurdistan. He said, “The economic reforms and overall stability of the Kurdistan Region, as well as its high growth potential in the telecom market, make it a more attractive destination for potential investors.”

The Kurdistan Regional Government’s (KRG) Good Governance and Transparency Strategy, the higher education sector and the KRG’s bilateral relations with the UK, Korea, and Italy are
also featured in the June Review.

Minister Falah Mustafa, the KRG’s Head of Foreign Relations, said, “This issue of the Review is an opportunity to truly understand the significant progress we continue to make in Kurdistan. As with the first update, this review contains new data from key ministries and highlights the investment opportunities in the relevant industries.”

The Review is published by Invest In Group, in cooperation with the KRG’s Department of Foreign Relations which oversees the publication. The next edition will be published in August.

Click here to read the June 2013 edition of the Review - Kurdistan Region of Iraq.


As per KRG's agreement with the Iraqi government and under the 2015 Budget Law


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