Iraqi Prime Minister Mohammed Shia Al-Sudani has announced that Iraq has granted investment permits worth $88 billion, signaling a major milestone in the country’s journey toward economic revitalization.
The announcement came during a meeting in Baghdad with a delegation representing nearly 60 American companies. During the gathering, Al-Sudani showcased Iraq’s evolving investment environment, according to a statement from the Prime Minister’s Office (PMO).
Al-Sudani emphasized that Iraq now offers a diverse and expanding market for a wide range of products and services. He noted that the government has taken serious steps to open the Iraqi economy to international companies and create an investor-friendly environment.
Highlighting Iraq’s transformation, Al-Sudani credited the Iraqi people’s success in defeating terrorism as a foundation for the country’s progress. He described Iraq as a rising democratic model in the region and an increasingly attractive destination for global investment across multiple sectors.
The Prime Minister stated that Iraq is currently enjoying political, economic, social, and security stability, and is witnessing unprecedented development growth supported by a skilled labor force.
To further enhance the investment climate, Al-Sudani noted that the government is simplifying business registration procedures and improving legislation to attract more foreign investors. Iraq’s existing investment law already offers significant incentives, and new laws are in development to provide even more advantages.
Describing Iraq’s strategic geographic position, Al-Sudani said the country serves as the fastest corridor linking East and West, connecting global trade routes through Turkey into Europe. He also lauded the Development Road Project, which he said will become the most efficient and cost-effective commercial route between Asia and Europe.
Additionally, the Prime Minister pointed to Iraq’s rich natural resources, noting that the country is the world’s top producer of sulfur, the second-largest producer of phosphate, and holds vast untapped mineral reserves.
He also highlighted Iraq’s position among the top ten nations globally for natural gas reserves, adding that ongoing agreements with international companies will enable the country to end gas flaring by 2028.
With strong government backing, legislative reforms, and a stable economic outlook, Iraq is positioning itself as a key player in regional and global investment markets.
Source: IraqiNews.com
