KURDISTÁN, MERCADO DE OPORTUNIDADES.

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Información sobre el Kurdistán Iraquí 2014 - Programa de Internacionalización de empresas de la Cámara Internacional de Empresarios de Barcelona. export@ciebarcelona.com

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KURDISTÁN, MERCADO DE OPORTUNIDADES.

  1. 1. BUSINESS IN KURDISTAN PREPARED BY: KURDISTAN REGIONAL GOVERNMENT REPRESENTATION IN SPAIN C/ Puerto de Santa Maria 42, Madrid, 28043 telf: +34 91 436 26 20 / Fax: +34 91 435 29 14 website: www.krgspain.org
  2. 2. BUSINESS IN KURDISTAN EMERGING MARKET Federal Region of Iraq Political Stability Democratic Governance Economic Development National Cohesion
  3. 3. BUSINESS IN KURDISTAN PROFILE OF THE REGION Area 40,643 sq. km Population 5.3 Million Neighbors Turkey, Syria, Iran Climate Semiarid Continental Summer: 39-48 Winter: 2-13 Time Zone GMT + 3 Tel. Code +964 Administrative Divisions Erbil (capital – pop 2 mil) Slemani (pop 2.1 mil) Duhok (pop 1.3 mil) Official Languages Kurdish, Arabic Religion Islam, Christianity, Yazidism Security One incident in past six years – civilians not targeted Ethnic Groups Kurds, Assyrians, Chaldeans, Turkmen, Armenians, Arabs
  4. 4. BUSINESS IN KURDISTAN KURDISTAN PARLIAMENT 34 WOMEN 111 TOTAL MPS 77 MEN Election Results KDP Gorran PUK Yekgrtu Komali Other 37.8% 24.2% 17.8% 9.5% 66% Most Recent Elections 2013 1,968,775 Voters 74% Turnout
  5. 5. BUSINESS IN KURDISTAN KURDISTAN REGIONAL GOVERNMENT President : Masoud Barzani Prime Minister : Nechirvan Barzani Kurdistan Regional Government Cabinet Consists of 19 Ministries Parliamentary Democracy Established in1991 Federal Region of Iraq Established: 2005
  6. 6. ECONOMY|FINANCE GDP PER CAPITA GDP $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 2006 2008 2010 2012 2014 Annual GDP growth 10% in the next 5 years
  7. 7. ECONOMY|FINANCE GDP CONSUMPTION BY SECTOR Mining & Manufacturing 9.4% Agriculture 17.5% Trade & Transportation 13.5% Construction 7.6% Services 30.1% Public Services 20.6%
  8. 8. ECONOMY|FINANCE BUDGET 0 2 4 6 8 10 12 14 2008 2009 2010 2011 2012 2013 KRG BUDGET USD Billions KRG $13.1 billion in 2013
  9. 9. ECONOMY|FINCANCE BANKING 3 state owned 19 local private 11 foreign private 6 local & 1 foreign Islamic FOREIGN BANKS IN THE REGION BankMed BBAC BYBLOS Credit Libanias IBL Bank Al-Baraka Bank Bank Asya Is Bank Vakifbank Ziraat Bank Standard Chatered BANKS TOP FIVE FOREIGN BANKS 0 10 20 30 % TOTAL CAPITAL Banking sector receives 16.67% of economy’s overall capital investment
  10. 10. TRADE|INVESTMENT INVESTMENT SUMMARY 2006|INVESTMENT LAW One of the most liberal in the Middle East  Foreign investors can own 100% of investment project capital  Full ownership rights of real estate and movable assets  Equal treatment for foreign and local investors (arbitration court, in Kurdistan and Iraq)  Foreign investors can repatriate 100% of investment and profits  10 year tax holiday and 5 year customs and duties exemption on imports Total Investment $30.5 billion(2006 – 2013) FDI $5billion (2012) Foreign companies 2,300 Local Companies 15,000
  11. 11. TRADE|INVESTMENT INVESTMENT BY SECTOR 0 2 4 6 8 10 12 14 16 18 Investment by Sector USD billions
  12. 12. TRADE|INVESTMENT MAJOR COMPANIES BANKING OIL|GAS HOSPITALITY AIRLINES OTHERS
  13. 13. TRADE|INVESTMENT TRADE Major Trade Partners – USA, UK, EU, Lebanon, Turkey, Jordan, UAE, China, Egypt Imports account for 85% of external trade. All imports locally consumed $20 billion worth of trade facilitated through Kurdistan between Iraq, Turkey and Iran Kurdistan is a net importer of food stuff and consumer products.
  14. 14. SECTOR ANALYSIS AGRICULTURE 10% contribution to GDP Investment of $1.2 billion 2013– 2020 $3 billion investment in water Employs 7.1% of workforce
  15. 15. SECTOR ANALYSIS AGRICULTURE GOVERNMENT SUBSIDIES Forestry Poultry Machinery/Technology Pastures Livestock Horticulture KRG STRATEGIC PLAN KRG aims to increase the following by 2017:  Vegetable production at 8% annually  Livestock at 5% annually  Cultivable land at 10% annually
  16. 16. SECTOR ANALYSIS OIL|GAS 45 Billion Barrels of Proven Oil Reserves 100-200 Trillion Cubic Feet of Natural Gas Reserves 57 Discovered Oil & Gas Fields 14 upstream projects as of 2013 $15 - $20 billion investment as of 2013 39 Companies from 19 different countries Energy deal signed between Kurdistan Region and Turkey will see export of 300,000 bpd of crude. Second pipeline to be completed mid-2014 KRG aims to be producing 1 million bpd by 2015 and 2 million by 2019
  17. 17. SECTOR ANALYSIS OIL|GAS 0 50 100 150 200 250 300 350 Proven Oil Reserves billions of barrels Kurdistan Region 6th OPPORTUNITIES Mid and Downstream opportunities  Transportation  Storage  Processing  Refining  Marketing  Training and vocational education
  18. 18. SECTOR ANALYSIS ELECTRICITY 1,700mw by 2016 power generation from private sector Power demand in 2013 is 3,750 MW 2,800 mw of distributed electricity in 2012 2,500 mw average distributed power in 2013 $1billion budget for ongoing projects relating to the transmission sector Power generation investment will be $7 billion by 2016
  19. 19. SECTOR ANALYSIS CONSTRUCTION • Projected Investment for next 6 years $1.3 billion • Annual housing demand - 58,690 • A total of 166 construction projects have been completed since 2006 with $13.7 billion in capital investment Airport Construction:  Erbil International Airport  Slemani International Airport  Duhok International Airport (2015)
  20. 20. SECTOR ANALYSIS CONSTRUCTION OPPURTUNITIES:  Real Estate  Commercial  Schools  Shopping Malls  Hotels  Hospitals INFRASTRUCTURE: The Kurdistan Region is still recovering from years of neglect and conflict and there is high demand for infrastructure construction project  Roads, highways  Bridges, underpasses, junctions  Sanitation and sewage system  Rail and tram Lafarge Iraq 2 cement plants Bazian & Tasluja Combined capacity 4.8million tons annually
  21. 21. SECTOR ANALYSIS TOURISM MAJOR HOTELS Divan Rotana Erbil Tangram COMING SOON Hilton Marriot Kempinski Sheraton ARAB CAPITAL OF TOURISM 2014 75% HOTEL OCCUPANCY RATES
  22. 22. SECTOR ANALYSIS TOURISM TOURISM REVENUE $1billion in 2013 250 hotels in Erbil alone $1.5billion projected tourism revenue (2015) TOURISTS 2.2 million tourists visited the region in 2012 7 million tourists by 2015 (target) AIRLINES INVESTMENT Major Airlines run routes to the Region: Air Berlin, Air Sweden, Austrian, Egypt Air, Emirates, Etihad, Flydubai, Germania Airline, Gulf Air, Lufthansa, Middle East Airlines, Royal Jordanian, Turkish Airlines 1.3million airline passengers $950 million allocated by Ministry of Tourism to Implement 47 projects for 2013 Opportunities in: Hotel construction Resorts Leisure, Spa and fitness Theme Parks
  23. 23. BUSINESS IN KURDISTAN CONCLUSION  Kurdistan Region budget and GDP increasing year on year  Rapidly developing oil and gas industry with increasing oil output although political problems persist  Liberal and business friendly investment law  Promising export market for European companies  Trade and investment opportunities across diverse sectors of the economy  KRG Strategic Plan 2013 – 2017 focus on priority sectors;  agriculture,  industry,  construction and infrastructure  Tourism  Construction, industry and manufacturing, agriculture, tourism, banking and finance and oil and gas offer most potential  Regular trade fairs held throughout the year

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