Kurdistan Regional Government Launches Digital Portal, Promises Stronger Future
In a move aimed at advancing the region's digital transformation, the Kurdistan Regional Government has announced the launch of an electronic portal, with President Masrour Barzani expressing confidence that the ninth government formation will deliver on its promises for a stronger and more technologically advanced Kurdistan.
The government's electronic portal, unveiled on Sunday, marks a significant step towards streamlining business processes and reducing financial burdens for companies operating in the region. One of the primary objectives of this initiative is to digitize the company registration process, making it more accessible, efficient, and cost-effective.
Addressing the public through his Twitter account, President Masrour Barzani emphasized the importance of embracing a digital future, stating, "We're delivering on our promise for a digital future and #StrongerKurdistan" This declaration underscores the government's determination to leverage technology to enhance the region's economic growth and development.
The newly launched electronic portal promises a range of benefits for entrepreneurs and businesses in Kurdistan. By enabling companies to register electronically, the system simplifies the registration process, reducing both time and costs. Previously, registration fees amounted to 3 million Iraqi dinars, but under the new system, they have been significantly reduced to just 50,000 dinars. The total cost of registering a company, including obtaining a trade name, is now approximately $100, representing a substantial decrease.
Bland Mohammed, the General Director of Company Registration in the Kurdistan Region, highlighted the advantages of the electronic portal during a press conference. He explained that the new system allows applicants to submit registration requests easily and securely from anywhere, at any time. Each registered company will receive a unique unit number, facilitating streamlined access to various government services.
The implementation of the electronic portal also ensures greater transparency and safeguards against potential duplication of trade names. Prospective business owners can now conduct online searches to verify the availability of their desired trade names, mitigating the risk of unauthorized usage and protecting intellectual property rights.
Moreover, the digitization of company registration streamlines processes and significantly reduces both the time and financial burden associated with establishing a business in the Kurdistan Region. The entire registration process, which previously took considerable time, can now be completed within a swift 24-hour timeframe.
As the Kurdistan Regional Government embraces digital transformation, this latest initiative underscores its commitment to fostering a business-friendly environment and attracting domestic and international investments. By providing an efficient and cost-effective platform for registering companies, the electronic portal aims to accelerate economic growth and facilitate increased business activity within the region.
As businesses and entrepreneurs begin utilizing the electronic portal, its impact on the ease of doing business in Kurdistan will become increasingly apparent. With the successful implementation of this digital initiative, the Kurdistan Regional Government paves the way for a prosperous and technologically advanced future for the region.