Iraq Paves the Way for Investment with Secure Environments, Says PM's Advisor

 
Baghdad-INA
 
The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, articulated on Sunday the pivotal strategic and regulatory strides bolstering Iraq's appeal to international investors.
 
During the eighth session of the Supreme Committee for Reconstruction and Investment, Prime Minister Al-Sudani highlighted Iraq's transformation into a stable and alluring destination for global capital, attributing this shift to progressive governmental initiatives and legislative reforms.

Saleh told the Iraqi News Agency (INA): "Prime Minister Al-Sudani's remarks on Iraq's investment landscape pivot on two foundational pillars: First, Iraq's completion of integration steps aimed at cultivating secure and conducive environments for foreign investment. Notably, Iraq's recent adherence to the United Nations-endorsed Singapore Investment Agreement underscores our commitment to fostering transparency and equitable regulatory frameworks."

"The agreement serves to enhance investor confidence by providing robust mechanisms to resolve disputes between investors and states through expedited mediation or international arbitration, thereby ensuring essential legal safeguards crucial for attracting global investments across Iraq's abundant resource sectors," Saleh elaborated.

Saleh emphasized that "the Singapore Agreement and accession to it is an important step towards promoting international trade and investment, which contributes to achieving economic growth and improving economic relations between international groups."

Emphasizing Iraq's strategic advantages, Saleh remarked, "Secondly, Iraq boasts significant natural and human resources, ranking ninth globally in resource abundance and leading in underground resource density per square kilometer."

"Iraq's geographical location, which connects European countries by land to Asian countries by sea, encouraged the launch of the Development Road project, which took its executive steps from the port of Faw upwards within the construction of the dry canal and future industrial, agricultural and service projects related to it, according to an important regional and international cooperation framework to attract international investments," he explained.

"These strategic, regulatory, and operational advancements collectively reinforce Iraq's appeal to international investors, supported by proactive governmental facilitation and robust legal protections," Saleh concluded.