This is an exciting time for investors and traders to venture into Iraq and its northern gateway in Kurdistan region. Government buildings, roads, schools, residential accommodation, and shopping centers are all under construction or in the pipeline.
Under a government plan, billions are to be invested in the development of public infrastructure in Baghdad and the regions. The energy sector is to be rehabilitated, the telecom sector needs to be upgraded, bridges, roads and hundreds of thousands of houses to be constructed, and financial services need to be expanded in the areas of banking, venture capital, micro financing, insurance, and capital markets.
Kurdistan’s Regional Government aims to place the region firmly within the fold of the digital revolution, enabling internet and electronic services access and top-quality communications networks. Although the northern region of Iraq enjoys abundant annual rainfall and produces between 30% and 35% of Iraq’s total grain crop, the agro-sector is desperately in need of modernization. Investment in all aspects of this industry is needed for the region to reach its full potential.
The Kurdistan Regional Government has also taken steps to ensure an investor-friendly legislative environment. Liberal investment laws include income and property tax exemptions for foreign companies; further exemptions for fixed assets including equipment, land, vehicles, furniture, spare parts, and raw materials; no local employment quotas; and an assurance that all economic sectors, with the exception of oil and gas, are open to foreign investment.
To create and an entry point and a one stop shop serving this exciting market, Erbil International Fair (EIF) is organized. EIF is considered the flagship trade fair that provides the entry point of all companies wanting to capitalize on lucrative business opportunities in a promising market. Iraq harbors enormous untapped economic potential and offers great rewards for investors. The local government adopted a long term strategic plan to transform this region of Iraq into a center of preference for investments by offering a secure haven that would encourage international investors to venture into this region.
The show is organized by International Fairs and Promotions Iraq, part of IFP Group – the leading trade fair, conferences and event organizers in the Middle East, with more than 430 international trade shows in Riyadh, Beirut, Doha, Amman, and Erbil. Additional shows are held in Erbil this year: Real Estate and Investment Iraq 2013, Project Iraq 2013, Iraq Medicare 2013, Energy Iraq 2013, Iraq Agro Food 2013, and Tourism & Hospitality Erbil 2013.