American, Saudi and Emirati companies open the door to investing in Iraq

[size=52]American, Saudi and Emirati companies open the door to investing in Iraq[/size]

[size=45]Baghdad / Muhammad Sabah[/size]
[size=45]Only a few months remained for the entry of American, Saudi and Emirati investment companies to Iraqi lands to work on reclaiming more than two million acres in the western desert extending from Najaf and Karbala through the Samawah desert and ending in Anbar Governorate.[/size]
[size=45]Saudi Arabia and the UAE each allocated more than six billion dollars to invest in Iraqi lands, strengthen economic relations and create new opportunities for cooperation and partnership.[/size]
[size=45]On the other hand, there are those who expect that "fugitive weapons" may impede or impede all these endeavors.[/size]
[size=45]Rahim al-Aboudi, a member of the General Authority for the Wisdom Movement, said in a statement to (Al-Mada) that “Mustafa Al-Kazemi’s government will enter Saudi, American and Emirati investment companies into Iraqi lands during the next few months,” indicating that “the understandings between Iraq and the United States of America, Saudi Arabia and the UAE have become clear through The amounts allocated by some of the Gulf states.[/size]
[size=45]Within the framework of his Gulf tour that took place at the beginning of this month, Prime Minister Mustafa Al-Kazemi agreed with the Saudi and Emirati sides to implement a number of investment projects in Iraq with a value exceeding six billion dollars.[/size]
[size=45]Al-Aboudi adds that "Saudi Arabia has announced its investment of three billion dollars in Iraq, as these funds will be used in a joint way between the two countries," noting that "most of the investment projects that will be referred to Saudi and Emirati companies will be agricultural."[/size]
[size=45]He continues that "Saudi Arabia will invest from the Badia of Samawah to the province of Anbar, with an area estimated at one million acres," adding that "investing these large areas in the desert will employ a large number of workers in Iraq."[/size]
[size=45]Competition intensified between Saudi, Iranian, Emirati, Kuwaiti and Turkish companies after Mustafa Al-Kazemi's government offered more than three million dunums for investment.[/size]
[size=45]Al-Aboudi explains that "there are Saudi investment projects that are currently in place in Anah and Al-Qaim," adding that "there are investments that will be made by the manufacturing industries, represented in industry and agriculture, and multiple and varied projects that Saudi companies will undertake soon."[/size]
[size=45]The Saudi investment companies specialized in raising cattle and cattle offered the Iraqi government the idea of ​​investing (4) million dunums in the western desert located between Anbar governorate, passing through the cities of Karbala and Najaf, and reaching the Samawah desert, with a contract extending for more than fifty years to cultivate agricultural crops and raise cows.[/size]
[size=45]And he shows that "among the investments that will be implemented by the Emirati and Saudi companies is the production of some internal industries in Iraq, as joint factories between Iraq and these two countries will be," adding that "among the most important investment projects is the interest in electric power projects by Saudi Arabia and the United States of America."[/size]
[size=45]A member of the General Authority for the Stream of Wisdom indicates that "the sums allocated by Saudi Arabia and the UAE are to boost the Iraqi economy and revive the Iraqi market by building housing complexes, factories and medium projects." These investment projects come within the decisions of the Joint Coordinating Council between Iraq and Saudi Arabia, which was formed in July of 2017, and aims to develop and rehabilitate natural resources in the agricultural sector in the Western Desert and reclaim agricultural lands to raise cows, livestock and poultry.[/size]
[size=45]Al-Aboudi indicates that "the UAE wants to reclaim the desert located between the provinces of Karbala and Najaf, which is estimated at about (500) thousand dunams," adding that "the investment ceiling for Emirati companies reaches about five years and may extend to ten new years."[/size]
[size=45]For his part, the economic expert, Abdul Rahman Al-Mashhadani, explains that "the sums allocated by Saudi Arabia and the UAE will be allocated to investment projects in Iraq, especially for Saudi Arabia and the UAE," stressing that "these funds will not be given to the government to build government and other projects, but rather will be exclusively investment."[/size]
[size=45]Al-Mashhadani believes in a statement to (range) that "the amount of six billion dollars is a large amount that may constitute 6% of the size of Iraq's annual budget, and therefore these funds are able to create large job opportunities and various fields and economic activities."[/size]
[size=45]And he shows that "any project that takes place needs other projects to complement this project, such as cultivating fodder that needs other sectors to be supported by it, such as activating the transport and services sector and many businesses, and thus it will create many opportunities for us." He believes that "Gulf companies will use modern technologies in their implementation of agricultural projects, and this will positively affect the development of work and workers, as well as increase production," noting that "choosing desert lands for investment comes as they are close to Saudi Arabia, which does not cost much money to transport."[/size]
[size=45]He points out that "the presence of uncontrolled weapons may impede all these efforts aimed at entering Gulf companies for investment."[/size]
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