Iraq ... a promising investment area in the Middle East

[6ly410]

Iraq ... a promising investment area in the Middle East

Wednesday 09 September 2020 

https://alsabaah.iq/30294

 

  Baghdad: Hussein Faleh

Experts and specialists for economic affairs considered Iraq a promising investment region in the Middle East, due to the diversity of investment opportunities and their abundance and increase and profits compared to other countries, pointing out that there is a great desire for international companies, especially advanced ones, to invest in Iraq in several areas, such as industry, housing, agriculture, transportation, roads, health and education. Economist Basem Antoine said in a statement to Al-Sabah: “Security stability is at the forefront of investment factors, as capital is looking for a safe and stable environment, an advanced banking system and a law that encourages investment away from blackmail, bureaucracy, red tape and corruption.”

Single window application

He added, "The single window must be applied in investment to cancel the extra rings in granting investment licenses," noting that "the environment of Iraq is still repulsive and unattractive to investment and proceeds as water flows in the utensils Alastastaqah."

He pointed out that "the investor prefers to invest in other countries even if their profit is less, due to the presence of security and stability, and there are no challenges and complications, although Iraq is the best region for investment in the Middle East, where the investor makes big profits through it."

 

Desire of global companies

He continued: "Therefore, we notice a great desire from companies in neighboring countries, European and American countries to work in Iraq, because the rate of investment in it is high, and there are wide and varied investment opportunities in Iraq, including in the field of housing, as Iraq needs to build more than 3 and a half million units. Residential by investment. "

He pointed out that "the industrial sector, there are about 50 to 60 thousand projects in need of partners or investment, and opportunities in the agricultural sector are about more than 25 million dunams, as well as the transport, roads, health, education and other sectors."

 

A banking and legal environment

He explained, "The shuttling tours of the Prime Minister to the Gulf after America, Jordan and Iran, to attract investment companies to work in Iraq, but these need to create a banking and legal environment and an advanced sums system for depositing money withdrawals."

For his part, the strategic expert, Issam Al-Faily, said, "Iraq today has become the focus of attention of developed world countries such as the United States, France and others, due to the availability of investment opportunities in various sectors."

 

Investing in the energy sector

Al-Faily said in a statement to Al-Sabah: “There is a great desire for international companies to invest in Iraq, especially in the field of electric power as well as housing,” pointing out that “Iraq needs to build about 3 million housing units and what has been achieved today is not equal to 4 Percent of the total need, and this requires attracting international companies. "

He added, "There are investment opportunities also in the oil sector. Iraq can conclude major agreements with advanced companies to invest in this field," stressing that Iraq faces a great opportunity to exploit the countries' desire to work and economic cooperation with him, and this is what was observed during the prime minister's foreign visits, Where there is a great desire for international companies to operate in the Iraqi market

Edited September 9, 2020 by 6ly410