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Iraqi Kurdistan Shifts Investment Approach

The Kurdistan Region of Iraq is shifting its investment and development focus from housing to tourism, agriculture and other industry, writes Abdel Hamid Zebari.
Iraqi Kurdish Minister for Natural Resources Ashti Hawrami speaks during a news conference in Arbil, about 350 km (217 miles) north of Baghdad February 7, 2013. Iraqi Kurdistan will press ahead with building its own oil export pipeline to Turkey, the region's energy minister said on Thursday, despite U.S. objections due to fears the project could lead to the break-up of Iraq. REUTERS/Azad Lashkari (IRAQ - Tags: POLITICS ENERGY HEADSHOT) - RTR3DGDK
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The Kurdistan Region of Iraq is preparing to change its investment approach to focus on new areas of foreign and local investment — including tourism, agriculture and industry — after having focused exclusively on housing for the past six years.

According to statistics obtained by Al-Monitor from the General Investment Authority in the Kurdistan Region, foreign and local investments have reached $24.5 billion across 521 projects extending over an area of 8500 acres in the region’s three major cities, Erbil, Sulaymaniyah and Dohuk.

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