Iraq invites Japanese companies for investment

INA - BAGHDAD

The Senior Undersecretary of the Ministry of Foreign Affairs, Ambassador Muhammed Bahr Al-Ulum, confirmed on Friday that Japan contributed to the reconstruction of Iraq with 34 vital projects, calling on Japanese companies to invest in Iraq.

"The relations between Japan and Iraq are historical and their roots go back to 1939. The development witnessed by these relations to reach the level of fruitful diplomatic partnership," Bahr Al-Ulum said, during the celebration of the anniversary of the birth of the Japanese Emperor and the National Day - attended by the reporter of the Iraqi News Agency - INA.

He added that "the name of Japan is associated in the Iraqi memory with the meanings of sincerity, honesty and efficient performance, in addition to the high human values that are consistent with our Arab and Islamic values as well as our ancient civilization in Mesopotamia, especially in the Sumerian and Babylonian civilizations."

"The high level of civilization that Japan has achieved in the fields of economy, construction, industry and technology was not a coincidence, but rather the result of strenuous efforts made by successive generations of the Japanese people, drawing determination and strength from Japan's ancient civilization," he added, explaining that "Japan contributed to supporting the march of freedom and democracy in Iraq after 2003, and participated with its forces in maintaining security and stability in Muthanna Governorate, an unprecedented step that left a unique humanitarian impact on the residents of the governorate."

Bahr Al-Ulum stated that "the two countries share in supporting each other diplomatically in international forums and UN institutions. Japan provided grants and development loans to Iraq contributing to the construction and rehabilitation of 34 vital projects in various Iraqi cities and regions. Among the most prominent of these projects is the establishment project, which is the most recent in the Middle East and the first in Iraq to convert oil waste into high-quality derivatives, which is being implemented by the Southern Refineries Company in cooperation with the leading Japanese company - JGC and will provide thousands of job opportunities in Basra Governorate."

"Today, Iraq faces new horizons of cooperation that carry promising opportunities thanks to its stability and development in the security and economic fields, which makes it a fertile and attractive environment for investment," he noted, calling on "leading Japanese companies to be a strategic partner in this new phase of Iraq's economic renaissance, inspired by the successful Japanese experience in development and progress."

He expressed his "admiration for the Japanese development experience," pointing to "the similarities between the two countries in geopolitical challenges."

He explained that "Iraq seeks to benefit from the distinguished Japanese model by expanding areas of cooperation and exchange of expertise. The investments of Japanese companies in Iraq are not just a strategic choice, but rather part of the modern economic vision adopted by Iraq under the leadership of PM Muhammed S. Al-Sudani."

"The remarkable growth in trade cooperation between the two countries in recent years is high. Iraq seeks to enhance the cooperation to include larger and more influential projects in the welfare of the two peoples and the stability of the region," Bahr Al-Ulum said.

He announced, "Iraq's desire to expand areas of partnership," calling on "Japanese companies and institutions to increase their presence in Iraq."