PM Advisor announces Iraq's move to establish a fund of foreign investments

Baghdad – INA 

PM Advisor for investment/ Chairman of the Iraq fund for development Mohammed Al-Najjar, on Wednesday, stressed the importance of the partnership agreement between Iraq and Saudi Arabia in the field of industrial investments for the private sector, while announcing Iraq's move to establish a fund of foreign investments.

Al-Najjar told the Iraqi News Agency ( INA )that " Iraq fund for development signed today the partnership agreement between Iraq and Saudi Arabia in the field of industrial investments for Iraqi and Saudi private sector, as it is the first achievement of the fund under the auspices of the investment acquisition of an Iraqi company in Saudi investments, which is the beginning of developing this platform and the entry of many Saudi and Iraqi investors with the Iraq fund".


Al-Najjar added" We have succeeded in breaking many years of cooperation attempts that have yielded many things for Iraqi-Saudi cooperation”, noting that "this step is the first and will be followed by many steps will be announced such as the presence of huge investment projects by the kingdom of Saudi Arabia in Iraq, and there will be projects by Iraq in the kingdom in the future".

He continued " We are now in the process of preparing investment companies that enter Iraq and are interested in it, and it is in fact a company and it has the right to invest its profits inside and outside Iraq as well", pointing out that "there is investment cooperation between the two countries so that it provides Iraq with the opportunity that it creates a fund of foreign investments also through the companies it creates to invest at home, which is a new principle we are working on".