
My cabinet has been taking constructive steps to diversify our economy, in a way that gives us a buffer against the uncertainty of global energy prices. We're drafting legislation for new industries and creating a regulatory environment to incentivize local companies and authorities, and to create competition.
This diversification - focused principally on agriculture, manufacturing and services sectors will be in addition to our energy sector -- not an alternative. At the same time, we are taking tangible steps to improve the efficiency of our energy sector. We, and much of the world, need to get smarter about how we use oil and gas.
Our two benchmark energy policies; more efficient use of existing oil and gas resources and development of renewables, are great opportunities for international investors. My government is keen to welcome investors who can bring expertise as well as finance and who are looking for a long-term relationship.
The economy is based on cash. And cash-based economies have limits of how much they can grow. What we're trying to do here in Kurdistan is to first build the infrastructure that is needed for the citizens. Citizens are the center of attention for my government. So we'd like to provide whatever services we can to make sure that the citizens are benefiting the most.
Whenever you have this digital banking system, you automatically know that there is going to be more growth. We are asking the banks to give loans to citizens so citizens can buy homes, and can buy cars with affordable payments. Banks are happy to do that. Yes, but we are now starting a project called My Account. By the end of 2024, I'm hoping that more than one million government employees will be enrolled in this program.
We are now installing about 1,000 ATMs throughout Kurdistan and about 40,000 payment stations so that citizens and visitors can benefit and use credit cards rather than carrying cash. This is going to transform our economy into a different stage, and I'm very optimistic about it.