[ltr]2023.02.11 - 19:37[/ltr]
Baghdad - Nas
On Saturday, the American Chamber of Commerce hosted Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein and his accompanying delegation, as it organized an expanded meeting of the US-Iraqi Business Council, which included a large group of American companies specialized in various fields.
And a statement by the Iraqi Foreign Ministry, of which "NAS" received a copy (February 11, 2023), stated that "Chairman Steve Lotus welcomed the Minister and the visiting delegation and stressed the importance of Iraq and the investment opportunities available in it, emphasizing the participation of American companies in investment and the need to strengthen and intensify joint cooperation in various fields." sectors".
In turn, the minister explained in his speech during the session that "Iraq is open to foreign companies and provides the necessary facilities for investment in various fields, focusing on the importance of cooperation and strengthening bilateral relations on the economic side with the United States, as the American side has previously provided assistance and support in the field of combating terrorism and eliminating The terrorist organization ISIS, and now we aspire to build and develop the Iraqi economy and move to the stage of economic cooperation, as the purpose of visiting Washington is to enhance cooperation and economic partnership.
Fouad Hussein stressed, "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.
He also reviewed "the steps taken to implement the electrical connection with the Hashemite Kingdom of Jordan and the Kingdom of Saudi Arabia, and 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, and the tourism sector represents a great investment opportunity for companies, since Iraq includes many shrines." Holy places and tourist places, so the development of infrastructure within this sector contains great opportunities for investment.
The minister stressed "the special nature of this visit, of an economic nature, to discuss ways to enhance cooperation in the field of energy, trade, and the 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 also affirmed "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, as well as reviewing the 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."
A group of specialized members of the delegation presented a "review of existing investment opportunities and proposed projects."
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