International Investment Insights in Iraq: Opportunities and Challenges

The Iraqi Prime Minister’s advisor outlines key sectors for investment, highlighting the energy and real estate industries as leading attractions while revealing challenges like the need for legal reforms to enhance foreign investment. Countries such as France and Britain are leading investment, while geopolitical events pose implementation challenges.

On Thursday, Prime Minister’s Advisor for Investment Affairs, Mohammed Al-Najjar, revealed key insights regarding international investments in Iraq. He highlighted the energy and real estate sectors as highly attractive to both local and foreign stakeholders. However, he noted challenges, particularly in the industrial, service, and agricultural sectors where foreign investments did not meet expectations.

Al-Najjar emphasized that the current legal framework poses significant obstacles for foreign investors seeking transparency. He advocated for necessary amendments to laws to better align with 21st-century requirements. He pointed out that France, through the Total contract, and Britain, with the Bibi contract, are currently leading in foreign investments in Iraq, followed by modest contributions from Saudi Arabia and other Gulf and Egyptian investments, which are still under consideration.

Furthermore, Al-Najjar expressed a solid commitment to advancing international agreements despite challenges, including those arising from recent geopolitical events. He explained that many agreements require time for implementation, noting the importance of bilateral understanding for successful investment opportunities as Iraq strives to enhance its market.

In conclusion, Iraqi investment prospects remain promising, particularly within the energy and real estate sectors, yet must overcome significant legislative hurdles to fully realize their potential.

In summary, Iraq’s investment landscape shows promise, primarily within the energy and real estate sectors, reflecting the interest of both local and international investors. However, a pressing need exists for legislative reforms to attract more foreign investment and facilitate smoother operations. Continued commitment to international agreements will be crucial for long-term success in fostering economic growth.

Original Source: ina.iq