PM: Spanish companies represent a priority in cooperation due to the reputation and experience they possess

Baghdad - INA 

Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Thursday, that Spanish companies represent a priority in cooperation as a result of the reputation and experience they possess.

The Prime Minister’s Media Office stated, in a statement received by the Iraqi News Agency (INA), that “Prime Minister Muhammad Shiaa Al-Sudani met with a number of businessmen and representatives of specialized Spanish companies and Iraqi businessmen, in the presence of Spanish Prime Minister Pedro Sanchez, and in the presence of representatives of Spanish companies, Andra Company, Conso Trans Group, Nvantia Company, Copasa Company, Aquip Ceramics Company, Novargy Company, Tomas Yavdor Engineering Company, and Escribano Mechanical Engineering Company.”.

The statement added, "The Prime Minister expressed his thanks to the attendees who accompanied the official visit of the Spanish Prime Minister to Baghdad," praising "the desire of Spanish companies specialized in various economic fields to participate in development plans and infrastructure reconstruction in Iraq.".

Al-Sudani pointed out that “Spanish companies represent a priority in cooperation as a result of the reputation and experience they possess, especially in the railway and transportation sector worldwide,” indicating that “ the development projects and accompanying investment opportunities are now open and available, and are under design and understanding with international financial institutions for the purpose of directing implementation.”.

In his conversation with representatives of companies and businessmen, the Prime Minister renewed his reference to railway connectivity projects, such as the Najaf-Karbala line, and the Baghdad Metro project, which will be announced within a few months, and that he looks forward to it being the first of extended cooperation between Iraq and Spain. 

He pointed to "projects such as the rehabilitation of Baghdad International Airport, the five residential cities, and the ten new cities, which will be announced soon," stressing that "Spanish companies are invited to participate in these opportunities, especially with the creation of the investment environment and facilities for foreign companies, and partnership opportunities with the Iraqi private sector.". 

During the meeting, Al-Sudani referred to the “industrial sector opportunities,” stressing that “the government provided support to the private sector by giving sovereign guarantees, at rates of up to 85% of the cost of any project implemented inside Iraq, in partnership with foreign companies, while the investor bears the percentage remaining".

The Prime Minister concluded his speech by referring to “the government’s efforts to develop the energy and renewable energy sector, and it continues to improve and increase production, in a way that prepares a solid infrastructure for the prosperity of the business sector,” stressing that “there is a trend towards adopting solar energy, and we have also laid important foundations for improving The investment environment that has been supported by a package of commercial and economic laws, and those related to double taxation,” calling on “Spanish companies to reserve their places in the free zones, in light of ensuring international standards for the financial and banking sectors and other services.”.