Iraq’s Maysan Province Looks to Lure Kurdish, Foreign Investment

By Aram Kakakhan & Aso Fishagi

ERBIL, Kurdistan Region – Authorities in Iraq’s southeastern Maysan province are trying to lure local and foreign investors in the autonomous Kurdistan Region, with promises of “an investment-friendly environment.”

“Our province is safe and secure and there is less bureaucracy,” provincial governor Ali Dawaee told the Fourth Maysan Conference in Erbil. “We have created an investment-friendly environment and we need the private sector to develop the economy of our province.”

“Building the Maysan airport is a huge investment opportunity, besides some other projects in different fields,” he added.

Authorities in Maysan have announced plans to implement 39 projects across the province, to be built on 91,000 acres of allocated land at an estimated cost of some $2.5 billion.

“Maysan province is different from other provinces of Iraq.  There have been significant developments in terms of construction and we are willing to further our developments and revive the private sector,” Dawaee said.

Kamil Chelub Hatem, economic advisor to the governor, told Rudaw:  “Our province successfully implements its projects. Our budget is wisely spent on a yearly basis without sending any money back to Baghdad. Currently, there are two Turkish and Lebanese companies carrying out investment projects in our province.

“We want to attract Kurdish and foreign investors in Kurdistan to come to Maysan and invest in projects,” he said.

Newroz Mewlood, director of the Erbil Investment Board who attended the conference, said this is not the first time that authorities in Maysan had come to Kurdistan to attract investors. “They want to develop their cities and revive the private sector and investment,” he said.

Business journalist Shamal Nuri doubted that Kurdish investors would pursue opportunities in Maysan. “I don’t think any Kurdish investor will be willing to invest in Maysan. Even if they get projects, they will implement them through subcontractors,” he explained.

He added that Kurdish investors could not be seen as bonafide investors. “Our companies have not reached the level of international companies,” he noted.

Yaseen Mahmod, head of the Kurdistan Contractors Union, earlier told Rudaw that Kurdish investors have received expressions of interest from other Iraqi provinces, such as Najaf and Karbala. He said the main concern for investors was security.

“If they can guarantee the safety and security of Kurdish contractors, we are ready to invest up to $4 billion in central and southern Iraq,” he said.