Al-Ghanimi: The current government has provided a supportive climate to attract investments

Baghdad - INA

The government of Prime Minister Muhammad Shiaa Al-Sudani confirmed on Wednesday that it has provided a supportive climate to attract investments, while clarifying the date for opening registration for apartments in the Bismaya complex. 

The authority’s spokesman, Muthanna Al-Ghanmi, told the Iraqi News Agency (INA): “The government of Prime Minister Muhammad Shia Al-Sudani has paid great attention to the investment sector and provided a supportive climate for developing the reality of the economic and investment process, enhancing confidence in the Iraqi investment environment, and achieving sustainable development standards and real indicators in the market.”.

Al-Ghanimi explained, “Iraq is a country full of diverse investment opportunities, distributed among housing, industry, agriculture, energy, transportation, and others.”.

He added, "The Investment Authority is implementing its plans and programs in accordance with the provisions of the Prime Minister's government program, related to economic reform, providing an appropriate and safe investment climate, and achieving a sustainable environment.".

He continued: "The Authority has established its policy aimed at attracting Arab and foreign capital and businessmen to implement investment projects and move the Iraqi economy to advanced stages by maximizing its financial resources."
He stated, "The amended Investment Law No. (13) of 2006 was keen to provide guarantees and encouraging benefits to attract capital and major investment companies.".

Al-Ghanimi stressed, “One year after the formation of the Iraqi government, the investment sector witnessed great progress, through the opening of many projects, the most recent of which was the Bismayah City project, which suffered from a halt for years, as the National Authority, under the patronage of the Prime Minister and the Authority’s keenness, was able to settle disputes and legal and technical points.” And the financial cooperation with the Korean executing company paved the way for the opening of registration for Bismaya apartments.”.

He continued: “As the National Authority announced last week, the first and largest waste recycling project to produce electrical energy in Iraq in the Nahrawan area, in addition to the opening of the highest skyscraper project in Baghdad that includes 65 floors, which is the (Downtown) project, in addition to 5 projects for new cities.” In the governorates of Baghdad, Holy Karbala, Babylon, Nineveh and Anbar.

He pointed out that "the investment sector is working at a positive rate with the presence of direct government sponsorship and the plans drawn up by the Chairman of the Authority."