Industry Minister invites foreign investors to view investment opportunities

Ina- Baghdad (Hussain Muhammad Al-Fayhan)

Local News

Ministry of Industry and Minerals renewed on Tuesday the invitation to foreign businessmen to make use of investment opportunities; after an establishment of appropriate grounds for them, while noting that the memorandum of understanding with Saudi Arabia included investment in the petrochemicals, iron and extractive minerals.

Minister of Industry and Minerals Saleh al-Jubouri said to Ina: “The Ministry signed a Joint industrial memorandum of understanding with Saudi Arabia that includes running a number of factories. The memorandum will be activated soon, it includes   that the Saudi side would invest in a number of strategic projects in Iraq, in addition to the partnership in Transformative and Extractive industries”. The Minster invited all foreign investors to visit the ministry’s website and view the investment opportunities.

It is hoped the coming months would witness implementing what was agreed upon between Iraq and Saudi Arabia, with the participation of public and private sectors; which would contribute to improving the quality of production. The ministry’s spokesman, Abdul Wahid Alwan said to Ina: “An investor needs a legislated law that supports the capital he brings to Iraq. What was put forward for investment with the Saudi side is related to petrochemicals, iron and steel industry, as well as mineral extraction industries”.

More than 100 Industrial Investment opportunities were put forward by Iraq to the Saudi side, during mutual visits between them.