In this Kurdistan Region of Iraq coverage, we put a spotlight on the Real Estate, Human Capital, ICT, and Agriculture & Water. We also talk to the leading companies on their success stories, future projects and doing business in Kurdistan.
Developed in conjunction with Ext-Joom.com
The role of the private sector in Iraqi Kurdistan is gaining momentum. Since 2005 the KRG changed it's attitude towards the private sector and now perceives the private sector to be an important part of the economic development of the region.
However, the situation in Iraq is different. The central government in Baghdad is trying to monopolize the industries again, thereby making the progress slower and unbalanced.
While the business environment in Iraqi Kurdistan improves, the environment in Iraq deteriorates. Investors view big investments in Iraq as risky because of the unpredictability and the uncertainty surrounding the governmental policy.
Kawa A. Junad, CEO of the largest Internet provider in Iraqi Kurdistan, Newroz Telecom, observes the difference between doing business in Iraqi Kurdistan and Iraq as follows: "They (KRG) view the private sector as a partner, and I think they are trying to introduce a new law in the minister’s cabinet called the PPP, Private Public Partnership, which is a very good thing. They did the same thing in South Africa, and it was very successful. So this is the strategy for the Kurdistan government, but I’m not very optimistic regarding Iraq."