The Slemani BOI itself has authorized more than 60 different investment licenses with a total investment capital of over $2 billion. Generally speaking, industry and tourism are currently the most active sectors in Slemani, because they are the areas that need the most investment. However, in the city, where there is more modernization, our primary goal has been the promotion of the industrial sector. We feel it is impossible to make significant progress without the development of this key sector. To make such progress, we feel it is essential to further expand our economic relations with any and all foreign companies interested in contributing to our growth and development.Regarding the future, it is my firm belief that investment licensing will continue to increase, particularly in the tourism sector. In Slemani, because of the nature of the people, the climate, and the overall environment, things are more suited for tourism. We believe that Slemani will see a huge surge in this sector, and there are signs of this development already.
If you look at the hospitality industry, we have seven large brand names actively involved in the city, the majority of whom are constructing multiple hotels. Millenium is working on three hotels, Sheraton is working on two hotels, Hilton is working on two hotels, and Highcrest is working on two hotels. Ramada, Rotana, and Titanic are all building hotels. Radisson Blu has requested permission to begin working on one as well.
All of this development demonstrates that Slemani is an open gate for people to come invest in the tourism sector. If you look at opportunities for shopping, we know the Slemani Majidi Mall and the Slemani Family Mall will be larger than their Erbil counterparts. This is primarily because, in terms of purchasing power, people in Slemani are willing to spend more money on entertainment. Chavi Amusement Park, which is one of the largest such parks in the Region, is an excellent example of this idea. There’s another 2,760,000 square meters park currently under construction, which will be one of the largest in the country. Faruk Group Holding and Dubai-based Emaar Properties are cooperating to build a 2,760,000 square meters park project near the Dukkan area. All of these facts make it clear that Slemani will become the main hub for tourism in the Region.