In a first-of-its-kind step, the Kurdistan Regional Government issued, on Wednesday, the first approved and official investment guide of its kind for foreign companies, as part of a plan that aims to diversify sources of income and provide job opportunities.

The guide, which was issued in both Arabic and English by the Investment Authority in the Region included the presentation of figures and field reports on the existing sectors that can be invested in and the facilities provided.

Masrour Barzani, the prime Minister of the Kurdistan Regional Government, said in the opening of the guide that the current stage requires thinking about new aspirations, noting that "we know that when investors look to new markets, the first thing they want to know is – is there an opportunity? And can I access that opportunity? I am confident that we can answer yes to both of those questions."

"Kurdistan has high levels of security and its well-educated workforce and low operating costs make it an increasingly attractive location for businesses looking to tap into the nearly 40 million populations of Iraq as well as the wider region," the prime minister added.

Dr. Mohammad Shukri Mohammad Saeed Malapir, head of Board of Investment in the region, stated that they "has started making qualitative changes in the services and organizational structure of the Board, directing investors and creating appropriate and fair opportunities for them and the private sector by providing facilities and showing cooperation with investors by organizing and announcing the Kurdistan Investment Map as well as preparing and the application of the One Window Shop system for the purpose of granting investment licenses, reducing red tape, facilitating the allocation of lands and providing them with infrastructure services (water, sewage, electricity and roads)."

The guide presented many investment opportunities in the region in various sectors, stressing that the current approved investments amount to more than 57 billion dollars, with 940 projects in various investment sectors.

According to the same guide, the volume of domestic investments amounted to 85 percent, while foreign investments amounted to 9 percent and 6 percent for joint investment.