With a strong focus on diversifying the economy and redeveloping infrastructure, the Kurdistan Regional Government is on a mission to create the right regulatory framework to encourage foreign and domestic investors, make it easier to do business in Kurdistan, and invest in infrastructure across the region.
Kurdistan has much business potential to offer local and international industry specialists, especially in the rising infrastructure and construction sectors.
The Kurdistan Regional Government (KRG) is planning a massive, region-wide infrastructure investment worth USD420 million to improve basic transportation and services. The funds are primarily directed towards roads, silos, electricity lines and water pipelines across the nation.
On the other hand, the total construction projects pipeline in Iraq including all mega projects with a value above USD25 million stands at USD211.6 billion. The pipeline, which includes all projects from pre-planning to execution, is heavily skewed to late-stage projects, with 81.5 percent of the pipeline value in the pre-execution and execution stages as of September 2019.
Infrastructure investments in Iraq mainly focus on water supply projects, wastewater treatment, electricity plants, hospitals, school construction, housing developments, highways, bridges, and port construction. These projects, planned as part of Iraq's reconstruction, are estimated to cost USD88 billion.
The construction industry's output value is expected to post a compound annual growth rate (CAGR) of 15.75 percent, rising from USD9.2 billion in 2018 to USD19.2 billion in 2023.
Building on immense business opportunities in the region’s dynamic construction sector, Project Iraq, the International Trade Exhibition for Building Materials, Construction Equipment, and Environmental Technology, returns for its 11th edition from 21 to 24 September 2020 at the Erbil International Fair Ground.
The exhibition will highlight key trade and investment opportunities across various sectors including, housing, infrastructure, and transportation, and will bring together prominent suppliers and buyers to stimulate trade relations and establish new partnerships.
Project Iraq will be held alongside “Iraq Agrofood”, the 11th International Trade Exhibition for Agriculture, Food, Food Processing & Packaging and “Erbil International Fair”, the 14th International Multi-Sector Trade Fair.