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Iranian Businessmen to Start Investing in Industrial City of Sulaymaniyah

Iran Iraq Sulaymaniyah Business

In 2010, Iranian and Iraqi governments agreed to open a dedicated industrial city in Sulaymaniyah. It was announced that an Iranian private company will start building the consented industrial city in Iraq. Adel Gooyeli, an Iranian trader who was involved in building this industrial city, said on Saturday that more Iran-based companies will start investing in this project.

“After almost five years, Sulaymaniyah’s industrial city will be inaugurated by Iranian and Iraqi officials in near future. Iranian companies in partnership with Iraqi organizations have managed to build this industrial city in Sulaymaniyah city of Iraqi Kurdistan.” Adel Gooyeli declared during an interview with the Herald Boy.

Gooyeli talked about the possible investments by Iranian companies in this international project. “Companies from Iraq and Iran have applied for buying booths, shops and lands in the industrial city. According to approved plans, a limited number of Iranian businessmen are allowed to invest in the first phase. In next phases, more Iranian companies can start investing in Sulaymaniyah’s industrial city.”

“It has been expected that around 70-80 Iranian companies establish their businesses in this industrial city. It will increase Iran’s exports to Iraq by over $2 billion. The Iraqi government has also invited Iranian companies to open their official offices and factories in Sulaymaniyah’s industrial city.” Adel Gooyeli concluded.

The government of Iraq intends to improve the facilities and infrastructures of Sulaymaniyah in the hope of attracting new investors from the neighboring countries.

Iran plays an important role in the Iraqi reconstruction.  The main areas of trade between the two countries are the construction, food and industrial sectors.

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