Thursday 19 December 2024

U.S.-Kurdistan Business Council Explores New Investment Avenues in the KRG



Earlier this fall, the U.S.-Kurdistan Business Council (USKBC) brought a delegation of U.S. businesspeople to the Kurdistan Region to explore new avenues of investment and opportunity. This trip, held annually, took on a new significance this year as it featured the one of the largest-ever delegations of businesspeople and also explored new opportunities in a diverse array of industries. The success of this trip shows that private sector interest in Kurdistan is growing rapidly.

During the USKBC delegation visit, participants representing a broad scope of industries had the opportunity to meet with leaders from the Kurdistan Regional Government, including Prime Minister Barzani and Deputy Prime Minister Talabani, as well as top representatives from the Kurdistan Investment Board and local chambers of commerce, among others. In each of these conversations, business leaders learned about how Kurdistan’s economy is rapidly diversifying and expanding, and how new opportunities for future investment are on the horizon.

Historically, U.S. business investment in Kurdistan has largely focused on the energy sector, as American companies have helped the KRG fulfill its constitutional right to explore and export oil and gas. This year, the USKBC delegation explored opportunities for investment in various sectors, including defense, agriculture, mining, and hospitality, to name a few. The USKBC delegation were invited to explore various cities in the Kurdistan Region. Under the guidance of Zakho’s mayor, Guhdar Shexo, the delegation was afforded an insightful tour that illuminated the rich tapestry of the city’s cultural heritage and its potential for future growth. As the Council ventured beyond Zakho to the hilltop of Amedi, they were welcomed by breathtaking panoramic views that showcase the region's natural beauty. Amedi is a treasure trove of history that resonates through its ancient architecture and vibrant local traditions. Among its most celebrated offerings is the exquisite sesame tahini, renowned for its rich flavor and quality. As USKBC delegates learned, the infrastructure for investment in these critical industries is already in place, so investment can begin right away.

Overall, the resounding success of the USKBC delegation this year shows that U.S. companies are deeply engaged in partnering with the KRG to build a more prosperous future for both nations.