Uzbekistan is set to establish a new trade center in Erbil as part of ongoing efforts by the Kurdistan Regional Government (KRG) to expand international commercial ties and attract foreign direct investment.
Gailan Haji Saeed, President of the Union of Chambers of Commerce and Industry of the Kurdistan Region, announced the initiative following recent diplomatic and commercial engagements abroad. These included a late-October mission to Germany, where local business leaders met with European counterparts to explore opportunities across the mining, oil and gas, energy, and automotive sectors.
Addressing investor concerns, Haji Saeed noted that foreign businesses often mistake the Kurdistan Region’s stable environment for broader regional security challenges in Iraq. He emphasized that local security guarantees and the region’s Investment Law offer robust legal protections for foreign capital.
Official data indicates that over 3,660 foreign companies currently operate within the Kurdistan Region. Since 2006, the Kurdistan Board of Investment has licensed more than 1,650 projects valued at approximately 80 billion USD, supported by over 14 billion USD in foreign direct investment and joint ventures. The KRG is also preparing to host a joint economic forum with Jordan in mid-December to further expand regional trade partnerships.
