Mohammed Al-Najjar, Investment Advisor to Iraq’s Prime Minister, has outlined the country’s most attractive investment sectors while acknowledging ongoing challenges in attracting foreign capital.
Top Investment Sectors:
- Energy and real estate development are drawing significant foreign investment
- Industry, services, and agriculture remain primarily funded by domestic investors
Current Foreign Investment Status:
Al-Najjar revealed that while international interest is growing, actual foreign investment remains below expectations:
- France leads with its Total energy contract
- Britain follows with the Basra Energy Company (BEC) agreement
- Gulf nations and Egypt show interest, with many proposals still under study
Key Challenges:
- Outdated legal framework requiring modernization for 21st century business needs
- Pending legislation, including Saudi investment protection agreements awaiting parliamentary approval
Progress on International Agreements:
- Some agreements already implemented
- Others progressing through necessary legal and bureaucratic processes
- Bilateral agreements between nations require extended timelines for full activation
Al-Najjar emphasized the government’s strong commitment to fulfilling these international partnerships while working to improve Iraq’s investment climate.
(Source: Iraqi News Agency – INA)
