Investment in Iraq's Kurdistan value at USD 15 bln

IRBIL, July 4 (KUNA) -- Hersh Muharram, head of the investment authority in Iraq's Kurdistan, said Friday value of foreign investment in Iraq's northern province over the past 18 months reached USD 15 billion, half of which belong to Arab investors namely from the Arab Gulf countries. Muharram said in a statement foreign and local investment in Iraq's Kurdistan were on the rise. He said representatives of Arab and Western companies were visiting Iraq's Kurdistan to explore investment opportunities. "We want to promote our province in economic, construction and tourism fields," he said. He attributed flow of investment to "security and stability in the province, as well as to the legal guarantees for capitals." Damac of the United Arab Emirates (UAE) has signed a USD six billion contract with the regional government of Iraq's... [read full story]