IBN: To what extent is investment in Kurdistan dominated by oil and gas?
BSAR: Oil and gas are clearly very important, but since July 2006 Kurdistan also has its own Investment Law, which covers all other sectors of the economy, and billions of dollars of investment contracts have already been signed under this law. It is regarded as very investor-friendly, allowing foreign investors tax exemptions and to own property in some cases, for example.
IBN: What are the main non-energy sectors for investment in Kurdistan?
BSAR: Another resource-based sector that is very exciting is the whole area of minerals. We will have a new Minerals Law in the near future, and the first comprehensive geological survey of the Region is being planned at present. In addition to that, infrastructural development and construction are high priorities, and we are seeing huge interest in areas such as telecommunications, agriculture, and tourism.
IBN: How accessible is Kurdistan for Western visitors?
BSAR: Most Western visitors currently going to Kurdistan are going there to do business or to work. We have two international airports with flights to European and Middle Eastern capitals, and some good international-standard hotels in the major cities, visas are easy to obtain for European Union nationals, so I think for the business traveller, Kurdistan is very accessible.
In terms of Western tourists, the numbers are small but increasing. There are some package-tour companies that offer packages to Kurdistan, while there are also independent travellers who are looking to go somewhere off-the-beaten-track. Kurdistan has a great deal to offer visitors, from river rafting, mountain climbing and what is termed adventure tourism, to heritage tourism for those interested in the ancient and cultural sites.
Both National Geographic and the New York Times have identified Kurdistan as an up-and-coming tourist destination. We expect to see more of that kind of recognition in the future.
IBN: Ms Abdul Rahman, thank you very much for speaking with us.
BSAR: It was a pleasure.
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