Iraq attracts foreign investors as economy improves and defiant defeat

by **Rocky** Thu 14 Dec 2017, 6:41 am

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Iraq attracts foreign investors as economy improves and defiant defeat

by Rocky Thu 14 Dec 2017, 6:41 am

Iraq attracts foreign investors as economy improves and defiant defeat

15:20 - 14/12/2017
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Information / Translation

LONDON (Reuters) - Foreign investors are increasingly attracted to doing business in Iraq as the economic situation improves and the defeat of a struggling organization is announced in the country, a Financial Times report quoted a UN official as saying on Thursday.

"Many countries have expressed their desire for economic cooperation with Baghdad after they have declared their full victory over terrorism in the country," the report quoted the UN adviser on the Iraqi economy, Falah al-Lami, as saying.

"In recent months, many delegations and government and private companies in Europe and the United States visited Iraq," he said, referring in particular to the "recent meeting between officials of the Central Bank of Iraq and representatives of Airbus and Total, as well as the visit of the British Prime Minister and a group of companies American. "

"All this indicates the recovery of Iraq. After announcing the final victory over terrorism, many have indicated that they want to invest in various areas of the Iraqi economy. Iraq has become a lucrative and attractive place for economic cooperation," he said.

"After falling oil prices, Baghdad desperately needs foreign capital and Chinese companies are already investing in the Iraqi economy," he said.

At the end of 2016, the World Bank approved a $ 1.485 billion new aid package for Iraq aimed at boosting the country's economy, stimulating private sector growth and supporting job creation, while the country's 2018 budget said strict costing would help the Iraqi authorities pay part Of its debt to the International Monetary Fund. Ending / 25 z

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