ERBIL, Kurdistan Region of Iraq – The Kurdistan Region is set to hold an investment summit in Erbil in September featuring the participation of traders and investors from Turkey and Azerbaijan, a government official said Tuesday.

The summit aims to attract investors from Turkey and Azerbaijan by showcasing investment opportunities across the Kurdistan Region, encouraging them to invest independently in various sectors or in partnership with local investors, Bargasht Akrayi, spokesperson for the Kurdistan Region's Board of Investment, told The New Region.

The Kurdistan Regional Government (KRG) has made increasing efforts in recent years to diversify its revenue sources and make the Region an appealing destination for international businesses.

Nearly 150 investors from Turkey and Azerbaijan are expected to participate in the summit, he said, adding that attendees represent the housing, industrial, agricultural, and artificial intelligence sectors.

The summit will last one day, followed by tours of cities across the Kurdistan Region to showcase investment opportunities to participating investors.

The Kurdistan Region will also host an economic forum with Spain in November, with over 60 Spanish companies expected to participate. The goal is to attract Spanish investors to the region’s agriculture, tourism, and oil and gas sectors.

Prime Minister Masrour Barzani has reiterated the Kurdistan Region’s readiness to support potential domestic and foreign investors in a bid to diversify the economy.

In June, Blind Mohammed, the director of the General Directorate of Company Registration, told The New Region that over 43,000 firms are registered in the Kurdistan Region, incliding more than 3,000 foreign companies.

Tourism has been another main focus, with Sasan Awni, the Kurdistan Region’s minister of municipalities and tourism, saying in June that there are more than 3,000 tourist sites and facilities in the Kurdistan Region, creating over 20,000 jobs, “80 percent of which are filled by the local workforce.”