Speaking at the Empowering Economic Development forum, Amanj Jalal, Director General of Sulaymaniyah’s Investment, announced that the total investment in the city has reached $2.566 billion this year.

The forum, organized by the International Finance Corporation (IFC) and sponsored by Channel8, began on Tuesday. It links local investors with IFC and international partners, presents investment opportunities with financial and technical support, and promotes infrastructure development.

New Projects and Expansion Drive Economic Growth and Job Creation

According to Jalal, 51 new projects valued at $1.8 billion have been launched, along with the expansion of 11 existing projects worth $716 million.

Regarding the impact of the project on the job market, he noted that "This year's projects will create more than 13,000 jobs during the construction phase, and the number will rise to 20,000 jobs during the commissioning and completion phases." 

Licensing Success and Policy Reforms 

Jalal pointed out that over the past three years, thanks to the removal of obstacles by the Kurdistan Regional Government (KRG) Deputy Prime Minister Qubad Talabani, 95 licenses have been issued, representing a 40% increase compared to the previous 14 years.

Strategic Land Allocation and Sector Development

The Director General revealed that 1,000 dunams of land have been allocated for the food industry, while in the tourism sector, work is currently underway in five tourism zones.

He also stressed that work is being done on strategic projects such as laying household gas pipelines, city buses, and petrochemicals.

Sulaymaniyah’s Industrial Sector Leads 

Meanwhile, Kovan Jalal Rozhbayani, Director General of Industrial Development at the KRG Ministry of Trade and Industry, told Channel8 at the forum that “Sulaymaniyah leads the industrial sector, hosting most of the region’s major factories and creating significant employment opportunities for young people.”

"The International Finance Corporation can provide financial support to investors in Sulaymaniyah, which will have a positive impact,” he added.