Deputy Prime Minister Qubad Talabani outlined a new economic vision for the city on Tuesday during Empowering Economic Development, the largest economic gathering held in Sulaymaniyah to date.

The forum, sponsored by Channel8 and organized in cooperation with the IFC and the Sulaymaniyah Investment Unit, focused on accelerating the city’s economic recovery and expanding private-sector growth.

“Sulaymanyiah is the capital of entrepreneurship”

In his keynote address, Talabani said Sulaymaniyah is transitioning from a cultural center to a leading industrial and economic hub.

“Sulaymaniyah is the capital of entrepreneurship,” he said. “The city is moving from the capital of culture to building a strong economy and has now become the industrial capital of Iraq.”

Talabani added that the city’s security, health infrastructure, and workforce make it one of Iraq’s most attractive destinations for investment. “We have the strongest security and health sectors, which is a favorable environment for investment,” he noted.

1,000 plots, $2.5 billion in investment, 13,000 new jobs

Amanj Jalal, Director General of Investment in Sulaymaniyah, presented updated figures on the region’s development pipeline:

• 1,000 plots of land allocated for food-industry projects
• $2.5 billion invested and 25 new projects licensed
• 13,000 jobs expected to be created in next year’s investment cycle
• 127 projects currently under construction across Sulaymaniyah

IFC highlights two decades of support

The forum aimed to strengthen ties between local investors and international partners and secure new financing channels.
The IFC, active in Iraq for 20 years, noted its role in revitalizing the banking, trade, and agricultural sectors. The institution has invested more than $2.5 billion nationwide, creating over 28,000 jobs, including 5,000 for women.

A new economic identity for Sulaymaniyah

Talabani said the city has entered a new phase of development.

“Sulaymaniyah is no longer only the capital of culture; it is now the capital of innovation and entrepreneurship, not just for the Kurdistan Region but for all of Iraq,” he said. “The city is taking firm steps toward becoming an independent and strong economy.”

Reforms: transparency and digitization

Talabani emphasized ongoing administrative reforms aimed at:

• Reducing bureaucracy
• Increasing transparency
• Accelerating investment procedures through digitized services

Investment beyond the city center

The Deputy Prime Minister said government strategy aims to distribute economic activity more evenly across the province.

“Investment and industry should not remain concentrated in the city center,” he said, stressing the importance of extending development projects to surrounding towns and villages.

Why investors choose Sulaymaniyah

Talabani cited several reasons for the city’s strong investment appeal:

• Long-term political and social stability
• Strong security and health sectors
• Skilled workforce
• Active participation of women in the economy