A government advisor reveals the map of international investments in Iraq

INA-  BAGHDAD


The Prime Minister's Advisor for Investment Affairs, Mohammed Al-Najjar, on Thursday identified the sectors that are most attractive to local and foreign investors, while pointing out the challenges facing them, and stressed that most of the international agreements have been implemented and the other part of them are on their way to activation.

Al-Najjar told the Iraqi News Agency (INA): "There are two main sectors to attract investment, the energy sector and real estate development, which attract large sums, while the focus was on the industrial sector, services and agriculture by internal investments, while foreign investments did not enter as we hoped, and there are some investments in the energy sector, but they are modest."

Al-Najjar explained that "there is a real movement to explore this market, some of which reached the decision stage and the other part is studying this issue, but the main obstacles are the lack of a legal environment that allows the foreign investor to work transparently in this area," indicating that "the laws need to be amended and adapted to the requirements of the twenty-first century."

He pointed out that "the largest investment countries in the country are France, as it has a Total contract and Britain has a Bibi contract, then followed by other countries," noting that "there are some Saudi investments, but they are dependent on the protection of Saudi investment, which has not yet been approved by Parliament."

"There are some diversified Gulf investments with a momentum of Egyptian investments as well, but a large part of them are under study," he said.

Al-Najjar stressed that "there is a strong desire to implement international agreements, but some of them are subject to issues related to side laws, as the war on October 7 that occurred affected the movement," explaining that "most of these agreements are between two countries and these need time to be implemented, and some of them are done and the other part is on the way."