ERBIL — The Chair of the Erbil Chamber of Commerce, Gaylan Haji Saeed, emphasized the importance of a stable and favorable environment for attracting foreign and domestic investors while speaking to Kurdistan 24 on Saturday.

Saeed highlighted that regions characterized by peace and stability naturally draw investment, contributing to economic growth and development. "We currently have about 4,500 factories in the Kurdistan Region, a number that has likely increased due to the stability and conducive environment in recent years," Saeed noted. He pointed out that Erbil has experienced significant progress in industry and investment, driven by both local and foreign investors.

According to Saeed, the increased number of projects in urban areas has spurred trade activities, positively impacting the lives of citizens. "The more projects there are in the cities, the more trade movement we will see, which will have a positive impact on the community," he explained.

Drawing a comparison to previous years, Saeed mentioned that only a small fraction of goods in Kurdistan were domestically produced, with the majority being imported. "If we go back four or five years, perhaps only 1% of the goods were produced locally; now, we have several products that meet the needs of both the Kurdistan Region and Iraq."

Saeed's comments underscore the ongoing industrial growth in the region, reflecting a broader trend of increased investment and economic diversification in Kurdistan, supported by a stable and welcoming business environment.