The Kurdistan Regional Government KRG continues its efforts to diversify revenue sources beyond oil, a central objective of the ninth cabinet. As part of these efforts, Prime Minister Masrour Barzani laid the foundation stone for the Golden Technology 2 project in Erbil, an industrial initiative aimed at supplying affordable products to the domestic market and creating new job opportunities for young people.
During his visit, the Prime Minister toured various sections of the factory and observed the production process. At a ceremony held afterward, he noted that this project and similar initiatives form an essential part of the KRGs strategy to broaden the economic base of the Kurdistan Region. He expressed satisfaction that the factory has already provided jobs for more than 100 people and is expected to employ 400 once expanded.
Prime Minister Barzani stated that such industrial initiatives are key to diversifying the regions economy. He emphasized the governments commitment to supporting all sectors and highlighted the industrial sector as one of the most capable of generating employment for the people of Kurdistan.
He added that in discussions with consulates, ambassadors, and foreign companies, the KRG consistently encourages partners to consider moving part of their operations and equipment manufacturing to the Kurdistan Region. He noted that they would benefit from a skilled workforce and competitive production costs.
The Prime Minister also stressed the importance of foreign expertise and advanced technology in further developing the industrial sector. He said that while initial cooperation may focus on assembly and partial operations, the long term goal is to utilize local raw materials to manufacture a wide range of technological devices within the region, ensuring the entire production process takes place in the Kurdistan Region.
The KRG has made considerable progress across multiple sectors in recent years and has established numerous local factories and major industrial centers as part of its broader economic development strategy.
