On December 9, 2025, under the supervision of Mr. (Qubad Talabani), Deputy Prime Minister of the Kurdistan Regional Government, the Governor of Sulaymaniyah, Nawzad Ghafur, President of the Sulaymaniyah Chamber of Commerce and Industry, Aram Babaan, a member of the Chamber’s Administrative Board, directors of government departments, merchants, investors, and senior Iraqi and international officials in Sulaymaniyah city at the Cigarette Factory Hall, the largest Economic Development Dialogue Forum was held. The forum was organized by the International Finance Corporation (IFC) and the Sulaymaniyah Investment Directorate.
The Deputy Prime Minister of the Kurdistan Region announced a new economic identity for Sulaymaniyah and emphasized that the city has moved beyond the stage of being a cultural capital to become an economic and productive center.
Qubad Talabani, Deputy Prime Minister of the Kurdistan Regional Government, stated in a speech at the Economic Development Dialogue Forum: “Sulaymaniyah is no longer just a cultural capital; now Sulaymaniyah is the capital of innovation and productivity not only for the Kurdistan Region but for all of Iraq.” He added: “The city is stepping forward to have an independent and strong economy.”
Regarding administrative reforms, the Deputy Prime Minister indicated that they are continuing to digitize government services, aiming to eliminate routine, increase transparency, and speed up the work and investment process.
He also noted that the government’s strategy is for investment and industrial projects not to be concentrated only in the city center, but more importance has been given to expanding economic activities to villages and towns.
In another part of his speech, Qubad Talabani highlighted the characteristics that have made Sulaymaniyah an attractive place for investment, as it has been the most stable city for several decades, possesses the strongest security and health sector, has a strong workforce, and the women of the city have an effective role in the economy.
The forum aims to connect local investors with the IFC and international partners, provide investment opportunities and access to financial and technical support, and support the diversification of economic infrastructure and the development of the private sector.
The IFC, a key member of the World Bank, has a 20-year history in Iraq, where it has invested $2.5 billion in the banking, trade, and agriculture sectors, leading to the provision of 28,000 job opportunities, 5,000 of which were for women.
The IFC, established in 1956 and operating in over 100 countries, in 2025 alone participated in global investment activities worth $71.7 billion, especially in the fields of trade, industry, innovation, and tourism.
Nawzad Ghafur, President of the Sulaymaniyah Chamber of Commerce and Industry, described the conference as an important advancement for Sulaymaniyah city and a showcase of investment opportunities, encouraging global companies to participate and start investing in Sulaymaniyah Governorate.