The Investment Fair in Erbil: A Catalyst for Economic Growth and Transformation

Tuesday, June 20, 2023 11:49 PM

Erbil, (June 20, 2023) - The Local Government Resilience Program (LOGOReP) Investment Fair, held at Erbil, concluded with resounding success. This highly anticipated event, organized by VNG International in collaboration with the Rwanga Foundation and Danish Refugee Council, plays a vital role in fostering economic development and attracting investments to the Kurdistan region of Iraq.

The Investment Fair provided a dynamic platform for stakeholders to present investment projects, engage in one-on-one investor-municipal exchanges, and share valuable insights and expertise. By facilitating meaningful connections, VNG International and the LOGOReP initiative aimed to support the Ministry of Municipalities and Tourism in their mission to drive economic growth, create employment opportunities, and enhance resilience.

LOGOReP, a five-year project generously funded by the Ministry of Foreign Affairs of the Netherlands, was designed to improve the prospects of refugees and vulnerable host communities by strengthening the resilience of local authorities and communities. Collaborating closely with VNG International.

A dedicated team comprising members from the General Directorate of Municipalities, the General Directorate of Urban Planning, and the Erbil Directorate of Urban Planning developed five visionary development plans for the municipalities of Qushtapa, Kawergosk, Basirma, Sebiran, and Kani Qirjala. These plans were thoughtfully aligned with the Erbil Governate Master Plan and the visionary approach of the Kurdistan Regional Government (KRG). Those projects were all presented during the fair to attract potential investors. The projects mainly focused on the sectors of infrastructure, public space, Trade, agriculture, industry, food and tourism in these areas.

These visionary development plans have paved the way for the creation of an investment catalogue, featuring 5-7 carefully curated projects in each municipality. This comprehensive catalogue serves as an avenue for interested investors to contribute funding and support these impactful initiatives, driving positive change in the region. Notably, the Investment Fair witnessed the participation of a significant number of investors alongside representatives from the Ministry of Municipalities, reinforcing the collective commitment towards advancing economic growth and resilience.