USD 450 Billion Worth Of Investments Available In Iraq -- PM

(MENAFN- Kuwait News Agency (KUNA)) BAGHDAD, Sept 27 (KUNA) -- There are currently investment opportunities in Iraq worth USD 450 billion, Prime Minister Mohammad Al-Sudani declared on Saturday.
Al-Sudani, speaking during the Iraqi Investment Forum, said these opportunities cover the sectors of housing, teaching, digital transformation, industries, smart agriculture and the environment.
The Government had already amended law of shareholding and holding companies, enacted legislations that support small and medium companies, increased digitization of government transactions to trim red tape, completed banking reforms and uplifted Iraq's credit rating, in line with Baghdad's endeavor to shore up businesses in the country, Al-Sudani said.
Moreover, Iraq had taken steps in the banking realm to make its regulations compatible with the international rules, he said, noting that the local banking sector's indexes showed rise of integration into the international economy, in addition to the expansion of electronic payments and governance of the financial sector.
Furthermore, efforts to restore security and stability in the country paved the way for creating an optimum environment for investments "in a manner that assures and protect partners," the prime minister said, noting that the volume of investments currently exceeded USD 100 billion.
Meanwhile, the head of the Iraqi investment council, Haidar Makkiyah, said value of the investment projects exceeded USD 102 billion, adding that the businesses employed more than 950,000 citizens.
For his part, Ibrahim Al-Baghdadi, President of Iraq Economic Council, said the forum would promote more than 160 investment opportunities through 20 workshops for ministries and investment authorities, in addition to organizing 14 sessions for ministries and public authorities, along with holding meetings among Iraqi, Arab and foreign business people. (end)
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