Eyes Partnerships with Saudi Companies: Kurdistan Region Expands Investment Opportunities
Official highlights strategic focus on industry, agriculture, and tourism as investment projects expand.
ERBIL (Kurdistan24) — The Kurdistan Region is emerging as a key commercial hub and stable investment destination in northern Iraq, with foreign and domestic investors increasingly showing confidence in the local market, according to Dr. Mohammed Shukri, head of the Kurdistan Investment Commission.
Speaking on Sunday, in Erbil during a joint Saudi-Kurdistan economic forum, Shukri highlighted the region’s two-decade history of resilience and foundational development.
“In the past 20 years, our story has been one of growth and reconstruction,” Shukri said. “Under the guidance of Prime Minister Masrour Barzani, the Kurdistan Regional Government has adopted a strategic approach to economic development that is not solely dependent on oil and gas, but builds a strong base across industry, agriculture, and tourism.”
Shukri emphasized that despite global and regional economic challenges, investment in Kurdistan has steadily expanded, with both local and foreign investors showing increasing confidence in the market.
“Just in 2025, we successfully approved more than 210 new investment projects with a combined capital exceeding $4 billion,” Shukri noted. “These figures reflect not only financial input but tangible benefits for Kurdistan and Iraq as a whole.”
Addressing the relationship with Saudi investors, Shukri pointed to a shared long-term economic vision. “Our goals align with Saudi Arabia’s efforts to diversify its economy, and Kurdistan offers complementary strengths to achieve mutual success,” he said.
He urged Saudi companies' representatives and leaders present at the Kurdistan Region–Saudi Investment Roundtable to focus on three strategic sectors in the region:
- Agriculture: Ensuring food security and utilizing Kurdistan’s fertile land, water resources, and favorable climate.
- Industry: Supporting self-sufficiency through manufacturing and production.
- Tourism: Developing the region’s mountains and historic sites to establish Kurdistan as a global tourist destination.
Dr. Shukri also reassured investors that Kurdistan’s investment law treats domestic and foreign investors equally, offering simplified customs procedures, reduced tariffs, and full freedom for the movement of capital in and out of the region.
He concluded by emphasizing that local companies and business chambers are ready to coordinate and establish joint projects with Saudi investors, underscoring Kurdistan’s commitment to long-term, mutually beneficial economic partnerships.
The Kurdistan Region–Saudi Investment Roundtable comes amid a broader push by the Kurdistan Region to diversify its economy, attract regional capital, and position itself as a stable investment hub in northern Iraq. In recent years, Erbil has sought to deepen ties with Gulf states, particularly Saudi Arabia.
For Riyadh, the forum aligns with Vision 2030, which encourages outward investment and regional partnerships in sectors such as energy, infrastructure, agribusiness, and tourism.
Officials say the meeting reflects a mutual recognition of opportunities created by the Kurdistan Region’s relative stability, young workforce, and strategic location, as well as Saudi Arabia’s expanding role as a regional economic powerhouse.