Shafaq News – The Iraq Development Fund is driving investment projects worth up to $7 billion, according to its executive director, Mohammed Al-Najjar. Established in 2023, the fund aims to enhance Iraq’s investment climate and support private sector growth.
A French business delegation representing 30 companies recently met with Iraqi government officials, Al-Najjar told Al-Sharq TV. The visit is expected to generate up to $4 billion in investments across key sectors such as healthcare, environmental projects, public transportation, and smart agriculture.
“The fund’s goal is to attract both local and foreign private sector investment in Iraq,” Al-Najjar said, highlighting strong domestic interest and optimism about international participation.
In the tourism sector, the fund launched the Hadara (Civilization) initiative, which seeks to establish an investment company with Iraqi and foreign partners to develop resorts at archaeological sites. “Iraq has around 12,500 UNESCO-listed sites that remain largely untapped,” he noted.
The fund aims to secure $1 billion in tourism investments by 2025. With Iraq named the Arab Tourism Capital for 2025, the government is planning 21 tourism projects to diversify the economy and reduce reliance on oil. “The sector holds immense potential, but unlocking it requires significant investment,” Al-Najjar added.
