KRG Invested $2bn in 89 Investment Projects

[ronscarpa]

KRG Invested $2bn in 89 Investment Projects

 

1st January 2023 in Construction & Engineering In Iraq, Investment, Iraq Public Works News

 

89 investment projects worth over $2 billion have been implemented this year

 

The implementation of investment projects in various sectors was one of the priorities of the Ninth Cabinet of the Kurdistan Regional Government (KRG).

 

In 2022, the implementation of 89 investment projects began, with a capital of 2 billion and 135 million and 418 thousand 819 dollars on an area of 2,395 dunams of land throughout the Kurdistan Region. Most of the projects were implemented through local capital and investors.

 

The sectors and numbers of investment projects:

 

Most of the investment projects in 2022 were in both the commercial and industrial sectors. The distribution of investment projects according to sector and capital was as follows:

• 26 projects were implemented in the commercial sector with a capital of 227 million and 285 thousand 811 dollars
• One project was implemented in the bank sector with a capital of 4 million and 100 thousand dollars
• 10 projects were implemented in the health sector with a capital of 76 million and 797 thousand and 187 dollars
• 26 projects were implemented in the industrial sector with a capital of 577 million and 561 thousand and 701 dollars
• 7 projects were implemented in the tourism sector with a capital of 153 million and 255 thousand and 550 dollars
• 7 projects were implemented in the education sector with a capital of 74 million and 736 thousand and 212 dollars
• 6 projects were implemented in the residential sector with a capital of 922 million and 383 thousand and 905 dollars
• One project was implemented in the sports sector with a capital of 3 million and 29 thousand and 553 dollars
• 5 projects were implemented in the agriculture sector with a capital of 96 million and 268 thousand and 900 dollars

 

87 of the projects were invested in by local investors and implemented with a capital of 2 billion and 79 million 121 thousand and 19 dollars. One project was implemented with a capital of 48 million and 97 thousand 800 dollars through a Lebanese investor while another one was through a Turkish investor with a capital of 8 million and 200,000 dollars.

 

 

97.36% of investment projects were implemented with local capital while only 2.64% were implemented with foreign capital.

 

Projects capital and their ratio

 

The following ratios of public capital have been used to implement projects for the below sectors:

• The commercial sector with a capital of 227 million and 285 thousand and 811 dollars, accounting for 10.64%
• The banking sector with a capital of 4.1 million dollars, accounting for 3.60%
• The health sector with a capital of 76 million 797 thousand and 187 dollars, accounting for 3.60%
• The industrial sector with a capital of 577 million 561 thousand and 701 dollars, accounting for 27.05%
• The tourism sector with a capital of 153 million 255 thousand and 550 dollars, accounting for 7.18%
• The education sector with a capital of 74 million 736 thousand and 212 dollars, accounting for 3.50%
• The agriculture sector with a capital of 96 million 268 thousand and 900 dollars, accounting for 4.51%
• The residential sector with a capital of 922 million 383 thousand and 905 dollars, accounting for 43.19%
• The sports sector with a capital of 3 million 29 thousand and 553 dollars, accounting for 0.14%

 

https://www.iraq-businessnews.com/2023/01/01/krg-invested-2bn-in-89-investment-projects/

(Source: KRG)

 

 

[rvmydinar]

Wow , government projects worth $2 billion. Every iraqi government project is always full of corrupt iraqi government officials and politicians ( this isn't a secret anymore ). Hmmm Just wonder , where do the corrupt iraqi government officials and politicians have a secret meeting behind closed door to discuss how to steal that money?