The effectiveness of the investment law in the Kurdistan Region of Iraq in attracting foreign direct investment For the period 2006-2019
Keywords:Kurdistan region, investment law, foreign investment, investment environment
This study focused on identifying foreign investment bearings in Kurdistan region in Iraq according to 2006 investment law, and mentioning the contribution of these investments in the economic growth in the region considering that foreign investments have an effective role on the economic process growth in developing countries including Kurdistan region and the challenges the process faces because of the lack in it’s local capital which is necessary in investments funding, as well as the shortness of the professional manpower and advanced technology. The researcher considers that despite of the social and economic transitions that took a place in the region and the appropriate natural resources, geographic and climate for tourism, agriculture, trade and manufacturing, as a result the investment opportunities increase with high profits but, this can’t overcome the economic negativities of the central government in Baghdad which it’s economic depends mainly on oil exports. Whereas the investment environment in Kurdistan region didn’t become motivated in the wanted form that attracts many foreign investments except for some sectors, in this study the foreign and local investments that were attracted by the investment law were analyzed and led to a result that the highest capital invested was in Erbil and the least was in Duhok and, there was an imbalance in investments distribution also few of them were in the sectors of developing manpower and agriculture also, the investment environment including infrastructure, political and economic conditions have a direct impact on the investment decision making in choosing one country over another. The study recommends directing the investments toward villages and manufacturing sectors so that in investments become more comprehensive in spite of revising and evaluating all the investments projects to make sure they match the region investing policy, finally developing the investment environment in Kurdistan region.
Key words: Kurdistan region, investment law, foreign investment, investment environment.
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