The proposed Erbil Stock Exchange is underway and Louis Berger has committed to the KRG or Kurdistan Regional Government to startup the ESX.
Abdullah A Abdul Rahem (Abo Bangin), ESX Chairperson, stated in a recent contract signing ceremony that launch of ESX is definitely a great achievement for the Iraqi Kurdistan region. It proves the positive development of the region towards a sound or profound economy as added by ESX chairman.
The technical assistance for developing the proposed ESX will be derived from the Louis Berger, which has showed its interest in helping out the Kurdistan region for building their stock exchange. For the establishment, the key plans will be like the followings: recruiting and training exchange staffs, selecting and installing trading, clearance and settlement systems infrastructure, preparing seamless action plan and proper implementation of the plan. The project management firm will work with the assistance of the regional ministries, business groups, financial institutions and other stakeholders.
Vice President of Louis Berger’s Integrated Development group, Charles Bell proclaimed that this high-profile initiative is proving the diversified skills of their company. He is hopeful that the project will definitely help the region to reshape its economy and to progress towards a stronger, as well as robust economic success.
He also added that ESX will open new openings for the growth-oriented companies. More and more investors would come in this with open hands to prevail maximized wealth. This is a great chance for the investors to start or diversify their securities investments.
The work on the ESX will begin in the April of this year. The technical team of Louis Berger has worked in several projects, which are similar to this before. Recently, the company participated and successfully completed a project on Iraqi financial sector under the USAID-funded Tijara program.