The Diplomatic Courier – Foreign investment undermined by corruption risks in Iraqi Kurdistan

File photo (Saad Salim/Unsplash)

In an opinion piece published by the Diplomatic Courier, Dr. Joel Ruet argues that the Kurdistan Region in Iraq (KRI), once considered a promising investment destination, faces challenges such as budget shortfalls, economic crisis, and political discord. According to Dr. Ruet, despite Prime Minister Masrour Barzani’s Invest Kurdistan initiative to attract foreign investment, pervasive corruption and investor disputes hinder progress. The op-ed cites Sirwan Barzani’s company Korek refusing to pay a $1.65 billion damages award, following a ruling by a Paris arbitration tribunal which found that the company colluded with Iraqi authorities to unlawfully expropriate assets from French telecommunications company Orange and its joint venture partner Agility.