Prime Minister Masrour Barzani has urged local investors to form strong business consortiums to lead major industrial and infrastructure projects across the Kurdistan Region.
The call comes as the Kurdistan Regional Government increases efforts to diversify the economy. In addition, officials aim to reduce dependence on imports and oil revenues. Prime Minister Barzani said local companies should strengthen cooperation and build larger partnerships. He explained that stronger consortiums can manage strategic projects more effectively.
He also stressed the importance of expanding domestic manufacturing. According to Barzani, stronger local industries can improve economic stability and create more jobs for young people. Meanwhile, the Kurdistan Regional Government continues to support investment in infrastructure, energy, agriculture, and manufacturing sectors.
Officials say the Ninth Cabinet views economic diversification as a long-term priority. Therefore, the government continues introducing reforms and investment incentives to encourage private-sector growth. Barzani added that supporting local businesses remains essential for building a sustainable economy. He noted that stronger private-sector partnerships can also attract larger investments to the Region.
Economic experts believe consortiums could improve the competitiveness of Kurdish companies. As a result, local firms may gain greater capacity to implement major development projects. In recent years, the Kurdistan Region has witnessed growing investment activity in several sectors. These include construction, tourism, transportation, and industrial production.
Government officials continue to emphasize the importance of reducing reliance on oil income. They believe a diversified economy can strengthen long-term financial resilience and support future development plans.