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Deputy: Iraq's investments have risen and need a comprehensive review of previous years
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Baghdad today - Baghdad
Member of the House of Representatives, Representative Mudar Al-Karawi, confirmed today, Thursday (April 25, 2024), that 3 reasons will prompt a comprehensive review of the investment file in Iraq .
Al-Karawi said in an interview with "Baghdad Today", "Iraq went through difficult periods after 2003, the most difficult of which was after 2014, and constituted a challenge to all economic facilities, including investments in general, especially since the latter only recover in a safe and stable atmosphere."
He added, "The seizure of lands and their exploitation under the pretext of investment exists, and there are dozens of cases in the corridors of the judiciary regarding violations," pointing out that "the investment file is very complex and needs a comprehensive review by the government, starting with redrafting the laws and defining powers."
He pointed out that "security stability, the return of local capital, the influx of foreign investments, and the birth of provincial councils are reasons that will prompt a review of previous investments, which we would not be surprised if they were tainted by financial and administrative violations, but in general, the level of investment activity in the country has increased in the last 10 months by no less than 10%." We expect the rise to be greater during 2024.”
Iraq ranked fourth among the 10 countries with the highest growth in foreign investment momentum during the period between 2021 and the end of 2023, as expenditures grew by more than 370% during these years, according to specialized reports.
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