Board of Investment

The Board of Investment is responsible for promoting and supporting investment opportunities in the Kurdistan Region, assisting investors, and authorising licenses across all sectors.

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Kurdistan Economy

Economic Overview

The Kurdistan Region has a burgeoning economy built upon progressive economic policies and growing government transparency. Investment opportunities span every sector, including oil and gas, electricity, agricultural and the service industries.

Since the liberation of Iraq from the rule of Saddam Hussein, the Kurdistan Region has undergone great economic growth as international sanctions were lifted, including UN-imposed international sanctions on Iraq and Iraqi sanctions on the Kurdistan Region. With an abundant amount of proven natural resources and a tremendous labor force, the Kurdistan Region has the potential to become a regional economic powerhouse.

The Kurdistan Regional Government has been taking steps to facilitate opportunities, and has passed laws and regulations and promotes foreign venture by providing numerous incentives and legal guarantees to protect investment in the Kurdistan region.

Budget MOF	$9.6 billion (2010) est. Regions comparison to the world: 96
GDP: Real growth rates	4.3% (2009) est. Regions comparison to the world: 35 1.5% (2008) est.
GDP - per capita (PPP) MOF	$4,500(2009) est. Country comparison to the world: 117 $3,500 (2008) est. $3,200 (2007) est. Note: data are in (2009) US dollars
GDP - Composition by sector Univeristy of Salahadin	Agriculture: 6.8% Industry: 22% Services: 1.4 % Housing: 20.6% Tourism: 19.3% Trade: 14.5%

ALL INVEST in the future

Agricultural Products	Wheat, barley, rice, vegetables, dates, cotton; cattle, sheep, poultry
Industries	Petroleum, chemicals, textiles, leather, construction materials, food processing, fertilizer, metal fabrication/processing
Electricity Production	220V
Oil Production	100,000 bl/day (2009) est. Country comparison to the world: 51
Oil - Proved Reserves	45 billion bbl 1 January (2009) est. Country comparison to the world: 9
Natural Gas - Production	1.88 billion cu m (2008) est. Country comparison to the world: 58
Natural Gas - Proved reserves	3 trillion cu m 1 January (2009) est. Country comparison to the world: 11
Export - Commodities	Crude oil 84%, crude materials excluding fuels, food and live animals
Imports - Commodities	Food, medicine, manufactures
Partners	Syria, Lebanon, Turkey, US, Jordan, China, UAE
Exchange Rates Currency XE	Iraqi dinars (IQD) per US dollar - 1,194 2010, 1,117 (2009), 1,255 (2007), 1,466 (2006), 1,475 (2005)

Communications

Telephones - Mobile Cellular	2 million (2009)
Radio Broadcasting Stations	55 (station frequency types NA) (2009)
Television Broadcasting Stations	11 (2009)
Internet Country Code	.iq
Internet Users	250,000 (2008)
Airports	2 (2009) Erbil International Airport Sulaymaniyah International Airport