KRG Cabinet authorizes 206 Projects in three years

The Kurdistan Regional Government's Ninth Cabinet has implemented several projects and authorized numerous others since assuming office on July 27, 2019.

In the past three years, the Cabinet has authorized the implementation of 206 investment projects with a total budget of $11,629,355,000 in different areas of the Kurdistan Region. Crucially, of those 206 projects, 202 are conducted by local investors.

Categorized by the years in which they were conducted, the projects during the Ninth Cabinet's three years has been as follows:

2019:

During 2019, the Ninth Cabinet authorized 64 investment projects with a budget of $2,706,412,264, all of which were undertaken by local investors.

2020:

In 2020, COVID-19 spread across the globe and the Kurdistan Region was not exempt from its negative impact. The Ninth Cabinet authorized 76 projects that year; however, owing to the impact of the pandemic, only two were conducted. These projects were undertaken in cooperation with foreign investors, and the total budget stood at $1,979,524,500.

2021:

In 2021, the cabinet authorized 70 investment projects with a budget of $8,515,645,864, including the rollover of some 2020 projects delayed owing to the impacts of the COVID-19 pandemic. Of the 70 projects, only one was conducted by foreign investors, and another was a joint project between local and foreign investors.

2022:

In the first six months of 2022, the Ninth Cabinet authorized 44 investment projects with a budget of $648,980,424, all of which were conducted by local investors.

Categorized by province, the projects were distributed as follows:

Erbil province has had 88 projects implemented, with a budget of $8,911,758,113 during the past three years.

Slemani province has had 53 projects with a budget of $1,594,915,213.

Duhok province has had 48 projects with a budget of $598,413,798 and Halabja province has had one project with a budget of $6,846,000.

Garmian administration has had 11 projects and Raparin administration five, with budgets of $391,992,439 and $125,429,481, respectively.

These projects focused on numerous different sectors, including trade, banking, industry, services, education, agriculture, residential, tourism, and sports.

(Source: KRG)

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