Dubai chamber eyes investment opportunities in Kurdistan

Dubai Chamber of Commerce and Industry has completed preparations and is ready to embark on a trade mission to the Kurdistan region of Iraq, from January 13 to 15, as part of its strategy to expand into key emerging markets of the world. The Dubai Chamber delegation, which is headed by Abdul Rahman Saif Al Ghurair, Chairman of Dubai Chamber, and includes a number of senior Dubai business leaders, will hold several bilateral meetings, site visits and a roundtable discussion with prominent public and private sector representatives of the Kurdistan region to identify opportunities for joint cooperation, particularly in the fields of industry, construction, transport, communications, real estate, tourism and agriculture. Given the strong business potential of Iraq's economy, the Kurdistan region offers a stable and strategic base for Dubai businesses. Dubai businesses can not only trade with Kurdistan region but also use this region as a base for business and trade with the rest of Iraq, and with other countries in the Middle East and Central Asia, including Turkey. Specific opportunities exist in the industry and manufacturing sector as items in high demand include consumer products, building materials and industrial machinery, and construction with a lack of housing stock and infrastructure requirements, including roads and bridges to connect within the region and Iraq, as well as social infrastructure such as schools and hospitals. Tourism also holds potential for investment, especially in light of Dubai's expertise, as Kurdistan is endowed with rich cultural heritage including many historical sites and many scenic attractions which could become locations for resorts. At the same time, Dubai businesses could meet increasing demand for financial services and provide assistance to public and private companies in Kurdistan to improve their corporate governance and transparency to meet global standards.