We had the pleasure of hosting and spending a working day with a group of young people from the Kurdistan Region, Iraq, who were on a study visit to Serbia from April 22nd to 24th. They are our colleagues and young professionals in the investment promotion agency “Invest in Kurdistan.”
This agency operates within the “Board of Investment of Kurdistan” (BoI), a governmental organization responsible for overseeing investment-related activities in the Kurdistan Autonomous Region, formulating policies, regulations, and guidelines to encourage and regulate investments in various sectors.
The study visit was organized and supported by the International Finance Corporation (IFC), a member of the World Bank Group. The IFC supports BoI in promoting and facilitating private investments in priority sectors, including the livestock and dairy industry, fruits and vegetables, construction and chemical industry, and renewable energy, as well as in developing regional industrial infrastructure. The team on a study visit to Serbia is currently working on creating value propositions for these sectors to enhance foreign investment attraction activities, and the study visit allows them to exchange experiences with other agencies involved in investment attraction.
We gladly shared our experience with them, which began precisely twenty years ago, when the Investment Support Fund in Vojvodina (VIP Fund), the legal predecessor of the Development Agency of Vojvodina (RAV), started its work, dealing with the negative perception of Serbia, continuously learning about attracting foreign investments, targeting countries, sectors, and companies, setting goals and monitoring progress, promotion, and marketing.
The Kurdistan Region of Iraq (KRI), also known as Herêmî Kurdistan, is an autonomous region in Iraq with four Kurdish-majority governorates. Since 2003, KRI has been recognized by the new constitution of the Republic of Iraq, which has enabled significant economic development. The government has enacted legislation to encourage higher levels of domestic and foreign investments in various sectors, including agriculture, industry, tourism, services, information and communication technologies (ICT), and infrastructure projects, sectors crucial for the region’s economic development.
Check out a promotional video about the Kurdistan Region from our colleagues’ creative workshop. Enjoy it.
