Iraqi PM Unveils $450 Billion Investment Opportunities Across Multiple Sectors

Baghdad: Iraqi Prime Minister Mohammed Shia al-Sudani announced on Saturday $450 billion in investment opportunities in his country across various sectors. According to Yemen News Agency, in his speech at the opening of the two-day Iraq Investment Forum in Baghdad, al-Sudani emphasized the government's balanced foreign policies and prioritization of Iraq's interests, creating an ideal environment for investment. He stated that the government is moving towards increasing the procurement of services from the private sector and has initiated the IDuba project to build schools. Al-Sudani mentioned reforms in the banking system aimed at meeting international standards, which have led to increased integration with the global economy and expansion of electronic payment systems and financial sector governance. He highlighted the establishment of the Iraq Development Fund to enable local, Arab, and foreign private sectors to invest in the Iraqi market. The Prime Minister noted that efforts to consolidate security a nd stability have created a promising investment environment that protects and reassures partners. He stated that the volume of investments has exceeded $100 billion, validating decisions to diversify the national investment environment. Al-Sudani also discussed the 'Riyadah initiative, which engaged over 500,000 young people, trained 92,000, and resulted in 12,000 new projects and 20,000 job opportunities. He emphasized the government's focus on prosperity and expanding job opportunities beyond government employment, integrating them across all sectors. Investment partnerships with international companies in industries such as fertilizer, sulfur, phosphate, iron, construction, and food have been achieved, according to the Prime Minister. He noted that Iraq has seen success in the pharmaceutical industry, marking an unprecedented achievement in its history. Al-Sudani reported that 54 Iraqi factories have begun exporting products to regional and global markets, and the government has launched major housing projects in the region, attracting investments and providing substantial job opportunities. Currently, more than one million housing units are being managed in seven cities, with more in progress, as part of a plan for 60 new residential cities across Iraq. In conclusion, al-Sudani announced plans to establish a permanent council of Arab and foreign investors to provide advice and information, linked to the Prime Minister's Office, to further develop investment in Iraq.