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Al-Sudani: We are working to liberate Iraq from the unilateral economy
The first 2023/05/04
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Baghdad: Muhammad al-Ansari
Prime Minister Muhammad Shia al-Sudani called on all investors to seize the important investment opportunities offered in Iraq, and while stressing that economic reform is a top priority, he stressed that we cannot remain captive to the unilateral economy that depends on oil revenues.
This came during a speech delivered by Al-Sudani, yesterday, Wednesday, at the opening of the conference on "Mineral, Petrochemical and Fertilizer Investment, and Investment Opportunities Available in Iraq," which was held by the Ministry of Industry and Minerals.
The Prime Minister referred to the stable security situation, and the ability of the security forces to impose peace and security throughout Iraq, noting that "the government enjoys broad political support, and behind it is a parliamentary bloc of 280 deputies (the State Administration Coalition), which are components and elements of strength that support us towards heading with promising development plans." ".
He added, "I call on all investors to seize the important investment opportunities offered," and stressed that "economic reform is a top priority, and we cannot remain captive to the unilateral economy that depends on oil revenues. We must think about other sectors, the most important of which are industry and agriculture." .
He said, "We are heading to the industry sector, because Iraq is an industrial country that has infrastructure and untapped natural resources," noting, "We are the first country at the level of sulfur reserves, and the second at the level of phosphates. Silica is available with a purity of 98%. So we have natural resources that must be It is invested, and the priority for us is to attract investments in view of the opportunities presented.”
He noted that "we will determine with the investor his labor needs, according to the need of the partner from the private sector."
He explained that "four laws have been enacted, National Product Protection Law No. 11, Consumer Protection Law No. 1, Competition and Monopoly Prevention Law No. 14, and Customs Tariff Law No. 22."
He emphasized that "in investment, and in terms of privileges, the Iraqi investment law is the best among the countries in the region," noting that "most of the judicial disputes in Iraq are settled in favor of the private sector, and today we follow each project in itself to overcome obstacles."
Al-Sudani said, "It is important to invest time in creating partnerships with friendly and brotherly countries, which will benefit both parties and enhance stability in the region." He explained, "We are on the verge of an important conference this month, related to (development path), after a round of foreign visits." We presented the project with its components: the port, the industrial city, and the residential city, to the linking road to Turkey.”
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