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Prime Minister Mr. Mohammed Shia' Al Sudani today, Saturday, sponsored the Iraq Investment Forum held over two days in the capital Baghdad, featuring more than 160 promising investment opportunities in various sectors.

In his speech, he welcomed the participants and their presence in Baghdad amid the development and reconstruction witnessed by Iraq. He also announced investment opportunities worth $450 billion across various sectors, expressing his thanks to those responsible for this forum, foremost among them the National Investment Commission, the Iraqi Economic Council, and all supporting and participating entities.

Mr. Al Sudani confirmed the government's direction towards amending the Joint Stock Companies Law and the Holding Companies Law, adding provisions supporting small and medium enterprises and special funds, in addition to increasing the pace of digitizing government procedures to reduce bureaucracy, completing banking reforms, and raising Iraq's credit rating to reduce interest rates and insurance on projects established in Iraq.

Below are the highlights from the Prime Minister's speech:

🔷 The government's balanced policies in its foreign relations and prioritizing Iraq's interests have created an ideal environment for investment.

🔷 We are moving towards increasing the purchase of services from the private sector as we have started in the Eduba project for establishing schools.

🔷 We have worked on reforming the banking system to meet international standards.

🔷 Iraq has recorded an increase in indicators of integration with the global economy, expanding electronic payment systems, and governance of the financial sector.

🔷 The establishment of the Iraq Development Fund came to enable the local, Arab, and foreign private sectors to invest the abundance of opportunities in the Iraqi market.

🔷 Efforts to consolidate security and stability have paved the way for creating an ideal and promising investment environment that protects and reassures partners.

🔷 A special conference will be held to present investment opportunities related to the "Development Road" project, which will be the largest in the region.

🔷 We have worked to facilitate company registration to enter the Iraqi market and amend a package of laws for partnership between the foreign private sector and its national counterpart.

🔷 The volume of investments has exceeded $100 billion, confirming the soundness of our decisions in diversifying the national investment environment.

🔷 We launched the "Riyada" initiative, which involved more than 500,000 young men and women, training 92,000, producing 12,000 new projects from loans and 20,000 job opportunities.

🔷 We have been keen to prosper and expand job opportunities beyond government employment and integrate them into all sectors.

🔷 We activated the Industrial Coordination Council with private sector participation to complete strategic projects and invest in the most important sectors.

🔷 Investment partnerships have been achieved with global companies, especially in fertilizer, sulfur, phosphate, iron industry, construction, and food industries.

🔷 Iraq has witnessed investment and industrial success in the pharmaceutical industry, an unprecedented achievement in the history of Iraqi industry.

🔷 Today, we have 54 Iraqi factories that have actually started exporting their products to regional and global markets.

🔷 The government launched the largest housing projects in the region, a sector that receives direct and indirect investments and provides hundreds of thousands of job opportunities.

🔷 We are facing more than one million housing units in 7 cities that have been referred, and 3 other cities are under referral out of a total of 60 new residential cities across Iraq.

🔷 We plan to establish a permanent council of Arab and foreign investors to provide consultations and information that serve the development of investment in Iraq, linked to the Prime Minister's office.

Melaniastasia Romanov