ERBIL — The constant liberation of territories in Mosul has positively impacted the investments in the Kurdistan Region, said an official.
“There has been progress in the markets of Kurdistan Region as well as its domestic and foreign investment, and these are all connected to the liberation of [the majority] of Mosul from Daesh [IS],” said Yasin Mahmoud, a spokesperson for the Board of Investment.
He noted that foreign investors had suspended their projects due to the security crisis caused by IS’ presence in northern Iraq, and now they are resuming their work as the group is nearing its end.
“Nearly $30 billion was allocated to reconstruct Mosul [after the complete defeat of IS], which is expected to benefit the Kurdistan Region’s economy,” Mahmoud stated.
He further revealed that Kurdistan Regional Government (KRG) has also designed an extensive plan for 2017 which will help the revival of its economy.