KRG Temporarily Suspends Land Allocations to Private Companies

As part of the reform program announced by President of Iraqi Kurdistan, Massoud Barzani (pictured), and the Kurdistan Regional Government (KRG), all land allocations to private companies and investors have been suspended for two months, pending a new, more efficient mechanism for land allocations.

This decision excludes agricultural and industrial projects, as well as projects undertaken by what it describes as 'reputable international companies'.

Fuad Hussein of the Kurdistan Region Presidency said that a decree has been sent to the KRG Council of Ministers to immediately implement this measure.

The KRG Investment Law of 2006 offers attractive land incentives to encourage local and international private companies do business in the Kurdistan Region.

(Source: KRP)

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