ABOUT IRAQ

The capital of Kurdistan, Erbil, is arguably one of the oldest, constantly inhabited cities in the world and is one of the largest cities in Iraq. Erbil is witnessing an economic upswing and many foreign investors are considering Erbil as a potential investment destination due to the relative stability of the northern region.

COUNTRY PROFILE:

• The population is 34,4 million people
• Iraq's economy is dominated by the oil sector. Iraq ranks second in the world behind Saudi Arabia in the amount of oil reserves.
• Iraq's import is $ 77,2 billion.
• The Kurdistan region drives growth in Iraq's construction and building, landscaping and infrastructure sector.
• The government rebuilds essential infrastructure from power and water utilities and transportation infrastructure to residential housing.
• The reconstruction of Iraq's infrastructure continues and the construction industry will benefit from a sizeable investment plan and inflated budget.

SECTOR ADVANTAGES:

• Major local and foregin direct investment into all sectors in particular industrial, housing, landscaping, infrastructure and tourism, and the continued development of Erbil's airport, along with its leisure and commercial areas, should allow the hotel market to perform well throughout the rest of 2013 and in the near future. This demand is expected to be absorbed by the significant increases in branded hotel and serviced apartment supply entering the market as the area develops

• The Kurdistan region of Iraq offers more stable base and gateway to the rest of the country. So the region will keep growing and region requires to invest 30 billion USD for infrastructure until 2020.

• The private sector is gaining prominence and foreign capital is being invested into oil & gas, construction, landscaping, infrastructure, telecom, hospitality projects.• Almost all regional ecomony of construction based on import and together with the incentives many foreign construction company has started to make investment to the region.