Dutch ambassador to Iraq, Gurion Rodnberk, announced Wednesday that Dutch authorities encourages Dutch companies to invest in Kurdistan Region.

“Dutch companies have good experience in the fields of sports, buildings stadiums, water systems, and industry” said the Dutch ambassador. “We will try to get Dutch companies come here and do business”

Kurdistan Region has been the hot spot for investment in Iraq since 2003 and is regarded as one of the Middle East's best growth prospects in 2012. According to statistics released by the Investment Board, the region has attracted some $16.2 billion (19 trillion IQD) in foreign investment over the past five years.

Kurdistan Region’s boom in foreign investment has been accredited to its accommodating Investment Law, passed in 2007. The law provides incentives for foreign investors including the possibility of owning land, up to 10 year tax holidays, easy repatriation of profits and removal of tariffs on exports and imports related to the project.

Figures obtained from the Kurdistan Regional Government’s Ministry of Trade in December 2011 showed a 30% increase in the number of foreign companies registering in Kurdistan Region in 2011. Up from 331 companies in 2010 to 433 companies this year.