Ministry of planning is drafting investment plan for the next seven years
The Kurdistan Regional Government (KRG) is in the final stages of consultation and plans to publish its 2020 vision for investment before the end of the year.
Zagros Fatah, director general for development cooperation and coordination at the KRG’s ministry of planning presented a draft summary of the current plan to delegates at the MEED Kurdistan Projects 2013 conference in Erbil.
“The last century was a time of survival. This century is a time for us to develop for ourselves, so our people can enjoy the benefits of freedom, wealth and opportunities”, says Fatah.
KRG has identified three major gaps in investment, the most critical of which are water and sanitation, according to Fatah with 28 per cent of the regional population still unserved.
Total investment planned of $30.5bn until 2020 with water management and irrigation taking 21.96 per cent, with 17 per cent to electricity production, and 16.9 per cent on transport and infrastructure.
“Diversification is the key area of interest and this will be led by the private sector”, says Fatah.