The Assessment of Kurdistan Region’s Investment Law and Its Impacts on Foreign Direct Investment (Published)
The Kurdistan Region’s investment Law. No. (6) of 2006 was a great move by the government to attract foreign companies to invest their money in Kurdistan Region. Therefore, the side effects of investment law in Kurdistan is controversial. This study aimed to investigate the impacts of Investment Law on FDI in Kurdistan. It also intended to assess the importance of this law in developing different economic sector of the Region. The qualitative data was collected through face to face interview with experts and law professionals. The findings indicated that the Law becomes an important tool to attract foreign companies in the first place and hundreds of projects has been implemented which was difficult to be done without such laws. However, the study identified negative impacts of this law in the future. The law was found to be very less advantageous for the local populations and the government comparing to investors. The law has provided several incentives to the investors which might even pose national security issue in the future as investors are given loans and lands to make projects. The law has to be revised and amended as the KRG has already passed the first stage of investment and now needs mega projects and more benefits.