Erbil, Kurdistan Region, Iraq (cabinet.gov.krd) - Kurdistan Region Prime Minister Nechirvan Barzani says the Kurdistan Region is safe and secure for investment and encouraged foreign businesses to return to Kurdistan after the defeat of the so-called Islamic State terror organization. 

Prime Minster Barzani made the remarks during a speech at the opening ceremony of Arjaan by Rotana, a five-star hotel in the capital city of Erbil.

Below is the transcript of Mr. Barzani's speech:

Ladies and Gentlemen,

Dear Guests,

Good evening. I would like to welcome you to the opening ceremony of another investment project in the capital of Kurdistan, which is the opening of Arjaan by Rotana, a Lebanese investment project. I would like to take this opportunity to welcome Mr. Avedis Guidanian, Minister of Tourism of Lebanon, the excellencies former Lebanese ministers. I would also like to thank the investors and the owners of the investing company (Malia group in partnership with Rotana) and also (Malia CIT), I wish them all the success. I am also happy to see the ambassador of Italy attend this ceremoney.

The Kurdistan Region has been protected, with the sacrifice and courage of the Peshmerga heroes, security forces and volunteers, also with the support and assistance of our international allies. War and terrorism have been pushed away from the Kurdistan Region, therefore, now Kurdistan region has embarked on a new era, which is the post-ISIS era.
While we are in the beginning of this new period, the return of foreign investors and businesses to the Kurdistan Region is a welcome step and it reflects the realities in the ground. It is an indicator that despite all the challenges, the Kurdistan Region is still a safe and trusted destination for investors and businesses and it is on the right track.

It is obvious to all that investment, and foreign and local businesses' activities have decreased in comparison with the years before the financial crisis, and the war on ISIS. But the commence of investments and businesses such as building this hotel, under the current circumstances of the Kurdistan Region, is considered as an important step. Therefore, I thank them and I wish them success in their future investment projects in Kurdistan.

Lebanese investors of this project, which cost $40 million, have proved that despite all the challenges and difficulties facing the region, Kurdistan is still a safe and trusted place for investors and businesses. Also their confidence and understanding that the Kurdistan Region is stepping towards a brighter and better future and it is considered a good destination for investment in the region.

I would like to thank the Lebanese investors for having an important role in the investment and businesses in Kurdistan region, especially in service, banking, education, and tourism sectors. Their investment and businesses have led to have a large good number of Lebanese citizens in the Kurdistan Region and also become a great factor for building good relations between Kurdistan Region and Lebanon. Thanks again.

Here, at this ceremony, I would like to reiterate that the Kurdistan Regional Government is ready to offer assistance to investors who are interested in the Kurdistan Region. Our government wants investors and businesses to focus on agriculture, tourism and industry in particular. These three sectors, which have a good opportunity in the Kurdistan Region, are important part of the government reform plan in order to increase our income and move us gradually away oil dependency.

Ladies and gentlemen,

The Kurdistan Regional Government recently faced major challenges, such as cutting of our budget by Baghdad, war on terror, sheltering and caring for more than 1.8 million refugees as well as the drop of oil prices. But by defeating ISIS, managing the financial crisis, and initiating serious reforms, avoiding major dangers, has proved that having a political vision, taking responsibility and cooperation between parties and people can save the country from the crisis, as we have seen in Kurdistan.
From 2004 to the beginning of 2014, when the crisis started in Kurdistan, the Region experienced major improvements despite shortcomings. Tens of strategic projects in the sectors of transportation, water, education, health and general services were implemented. Hundreds of villages were rebuilt, thousands of roads and streets we're paved, electricity restored, hundreds of green parks, schools, hospitals, health centers, mosques and churches, new government offices were built. Thousands of families were able to have new homes, many of them with the help of the government. Private sector has implemented hundreds of housing, tourism, retail, hotels, restaurants and resort projects.

If we make a comparison in some sectors during 2003 to 2013, we find that during those 10 years the number of the schools has increased from 3,200 to 6,000. Public hospitals from 14 to 65. Private hospitals from 8 to 55. Nearly 16,400 kilometers of roads have been paved. 200,000 housing units were built, 50,000 of them for the low-income families. Water projects have increased from 40 to 1,200. Literacy rate increased from %53 to %84.  During these years, the Kurdistan Region had seen major changes in the development of sectors. These are signs that people and government of the Kurdistan Region seek development, stability and security.

Now, after all the disasters experienced by the Kurdish people, the people of Kurdistan have the right to have more political, economic, and social stability, in order to have more development, decide their own destiny and make their own decision. For this purpose, the Kurdistan Region will start a serious dialogue with Baghdad.

Again, I would like to express my appreciation to the investors, the owners and the company who implemented this project (Malia Group in association with Rotana) and (Malia CTI). I wish to see more projects in all other parts of Kurdistan. I would like to congratulate Erbil that became the owner of another modern, five-star hotel. Thanks for all associated government offices who have participated in the success and implementing of this project.

Our thanks and appreciation for all the local and foreign investors who have done projects during the financial crisis, terror risk and ISIS war and continued their investment.  Special thanks and appreciation to those investors and businesses that have invested hundreds of million of dollars as loans and without any initial repayment, based on their trust of the KRG and the future of Kurdistan. This is a sign of loyalty, patriotic, and love for Kurdistan. The 100 meter road and 120 meter road of Erbil are some examples of these projects.

In this ceremony, we salute the soul of martyrs of Peshmarga, security forces, and volunteers who sacrificed their life defending Kurdistan. Due to their sacrifice, Kurdistan is safe today and the people of Kurdistan are heading towards a brighter future.

Dear guests,

Tomorrow, first of May, is the international Workers Day. If not for their labor, no project is built. On this occasion, I congratulate all the workers of the world. We reiterate that the KRG supporters Workers rights and will do everything possible to protect them.

I would like to take this opportunity to thank my old friend Jack Sarab, who has been encouraging Lebanese businesses to invest in Kurdistan since 2006.  I also like to thank Sheikh Nasir, who's here with us today.

I welcome you again to this ceremony and wish you a pleasant evening.