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Foreign Minister Fuad Hussein affirmed the government's readiness to provide facilities for investment companies in Iraq, while noting that the Iraqi government's priorities focus on building the economy, providing services, and developing the private sector.
A statement by the Ministry of Foreign Affairs said, "The American Chamber of Commerce hosted Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein and his accompanying delegation," noting that it "organized an expanded meeting of the American-Iraqi Business Council, which included a large group of specialized American companies in various fields."
The Chairman of the Council, Steve Lotus, stressed "the importance of Iraq and the investment opportunities available in it, and the emphasis on the participation of American companies in investment, and the image of strengthening and intensifying joint cooperation in various sectors."
In turn, the minister said in his speech during the session that "Iraq is open to foreign companies and provides the necessary facilities for investment in various fields, and focus on the importance of cooperation and strengthening bilateral relations in the economic aspect with the United States."
And he continued, "As the American side previously provided assistance and support in the field of combating terrorism and eliminating terrorist gangs of ISIS, and now we aspire to build and develop the Iraqi economy and move to the stage of economic cooperation," noting that "the purpose of the visit to Washington is to enhance cooperation and economic partnership."
He stressed that "the priorities of the Iraqi government focus on building the economy, providing services, developing the private sector, and raising the level of income for the Iraqi citizen," noting that "the Iraqi economy depends heavily on oil and that the risks of dependence on oil through international prices require diversification of sources and resources and investment in various sectors." And the importance of focusing on the gas sector and its extraction, and for Iraq to be a self-sufficient and self-reliant country in the energy sector, and in particular in gas and electricity.
The minister reviewed the steps taken to implement the electrical connection with Jordan and the Kingdom of Saudi Arabia. He also indicated the importance of investment in the field of the agricultural sector, which is an important sector that includes great investment opportunities with the presence of basic resources. The tourism sector also represents a great investment opportunity for companies, as Iraq includes many holy shrines and places. Tourism, and therefore the development of infrastructure within this sector contains great opportunities for investment.
He stressed "the special nature of this visit of an economic nature to discuss ways to enhance cooperation in the field of energy, trade and development of the banking sector, as the American side was keen to cooperate in this aspect and to show full support through the outputs of the current meetings."
He stressed, "The Iraqi government's readiness to provide the necessary facilities to attract companies and the private sector to invest in Iraq by creating transparent legal and administrative mechanisms. He also reviewed efforts aimed at combating corruption and legislative procedures for enacting the oil and gas law and developing and reforming the existing banking and monetary system."
The statement added that "a group of specialized members of the delegation presented a review of existing investment opportunities and proposed projects."
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