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Economy / Iraq

Iraq

June 2011 | Risk Summary

On June 26, Kurdistan Regional Government (KRG) Minister for Municipalities And Tourism Samir Abdullah stated that the KRG has revoked 238 licences for investment ventures, and added that there could be more revocations in the future. Public protests in the northern provinces have focused on reducing corruption, and the announcement is seen as a response by the government to improve its record on graft by revoking licences that have raised concerns of corrupt dealings. The construction of industrial complexes, housing units, and tourist facilities are among the projects affected by the decision.

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