MOU Signing ceremony between BOI and KAPITA
Erbil, Iraq, 20th July 2023 – The Kurdistan Regional Government Board of Investment (KRG-BOI) and KAPITA Business Hub have today announced a Memorandum of Understanding (MoU). This strategic partnership paves the way for a concerted research-focused collaboration to stimulate business development and investment in the Kurdistan Region.
the Board of Investment of the Kurdistan Regional Government (KRG-BOI) was established in 2006 with the primary objective of contributing to the economic and social development of the Kurdistan Region by diversifying the economy beyond oil. One initiative of the BOI is Invest Kurdistan which provides information on investment opportunities, grants licenses, assists with site selection, and facilitates cooperation between investors and relevant departments. Through Invest Kurdistan, the Board of Investment is working to transform the region's economy and attract more investment.
KAPITA is a pioneering private sector development company dedicated to empowering small and medium-sized enterprises (SMEs) through an array of services including investment, research, incubation/acceleration, and market development programs. The firm is working on advancing the entrepreneurial ecosystem in Iraq, through new startups development, scaling established Iraqi businesses, and fostering personal development for entrepreneurs.
The MoU, facilitated by the Information and Communications Technology – Prospects for a Modern Youth in Iraq (ICT) project of Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, will drive several initiatives, lays a foundation for extensive collaboration. The alliance aims to not only focus on joint research and shared industry insights but also to include joint events and conferences, fostering connections between projects and potential investors. This broad spectrum collaboration aims to support the growth and success of businesses and investments, thereby creating a vibrant and dynamic business environment in the region.
"Through our Invest Kurdistan initiative, KRG-BOI is thrilled to join forces with KAPITA. Our collaboration, focusing on investment promotion, will harness the power of comprehensive research publications. This dynamic partnership underscores our shared commitment to nurturing economic growth in the region," said Dr. Mohamad Shukri Malapir, the chairman of KRG-BOI.
Echoing this sentiment, Mujahed Waisi, The Founder and CEO of KAPITA Business Hub, stated, "This MoU symbolizes KAPITA’s dedication to enhancing the private sector in the Kurdistan Region and Iraq. Through our collaborative research efforts with KRG-BOI, we are poised to contribute substantially towards a more vibrant, knowledge-driven business environment."
The collaboration is set to commence today, 20th July 2023, and will continue until the 20th of July 2024, with the possibility of extension through mutual consent.