Mohammed Al-Najjar, Iraq’s Prime Minister’s Advisor for Investment Affairs, highlighted the energy and real estate sectors as attractive for investments while acknowledging challenges in foreign investment due to legal frameworks. He noted progress in international agreements and mentioned leading investors as France and Britain. Despite some Saudi and Gulf investments, many opportunities are still under study, influenced by recent conflicts.
On Thursday, Mohammed Al-Najjar, the Prime Minister’s Advisor for Investment Affairs in Iraq, highlighted the most attractive sectors for both local and foreign investors and acknowledged existing challenges. He stated that while most international agreements are being executed, some are still in the activation phase.
Al-Najjar noted that the energy and real estate development sectors are particularly appealing, generating significant investments. Conversely, the industrial, services, and agricultural sectors primarily attract internal investments, with foreign investments in the energy sector remaining modest.
He emphasized the ongoing efforts to explore investment opportunities, with some proposals reaching decision-making stages, while others are still in study phases. However, the absence of a conducive legal framework hinders foreign investment transparency, necessitating amendments to existing laws to meet twenty-first-century requirements.
According to Al-Najjar, the leading countries investing in Iraq include France, with a Total contract, and Britain, which holds a Bibi contract. He mentioned that Saudi investments are contingent on parliamentary approval of protection agreements, along with diverse Gulf investments and increased Egyptian involvement, although many projects remain under consideration.
Al-Najjar reaffirmed the commitment to international agreements, noting that some face complications due to legislative issues. The impact of the recent October 7 conflict has also affected investment flows. He clarified that many agreements involve bilateral commitments that require time for full implementation, with some progressing while others are still underway.
In conclusion, Iraq presents significant opportunities for investors, particularly in the energy and real estate sectors. However, the challenges posed by legal and operational frameworks must be addressed to enhance foreign investment participation. With ongoing efforts to implement international agreements, the landscape for investment in Iraq is evolving, albeit with caution due to recent geopolitical events.
Original Source: ina.iq
