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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq prepares investment portfolio to attract $250 billion in two years

    Rocky
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    Iraq prepares investment portfolio to attract $250 billion in two years Empty Iraq prepares investment portfolio to attract $250 billion in two years

    Post by Rocky Yesterday at 6:44 am

    Iraq prepares investment portfolio to attract $250 billion in two years

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    Economy News - Baghdad
    [rtl]Iraq is preparing to launch a wide range of projects with the aim of attracting investments worth up to a quarter of a trillion dollars over the next two years, in an unprecedented move in the country.[/rtl]
    [rtl]The package of investment opportunities includes projects in the fields of renewable energy, industrial and agricultural cities, and railway networks, in addition to the education, communications, tourism, and entertainment sectors, according to the head of the National Investment Commission, Haider Makiya, during an interview with Asharq.[/rtl]
    [rtl]Makiya revealed that the authority has completed all the necessary requirements for 103 investment opportunities, in addition to major future projects, and “it is possible that within the next two years there will be funds flowing in the amount of about 250 billion dollars” to Iraq.[/rtl]

    [rtl]Investment momentum returns to Iraq[/rtl]

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    [rtl]This package comes amid the National Investment Commission’s activity to revive dozens of projects that have resumed work, in addition to reactivating others, and addressing the obstacles facing investors with various sectoral bodies. According to the head of the commission, “the number of stalled projects in all of Iraq has reached 249 projects.”[/rtl]
    [rtl]The National Investment Commission was established in 2006. Since then until the end of 2022, the volume of investments flowing into Iraq did not exceed $35 billion. However, after implementing administrative and technical reforms and setting controls to facilitate the investment process, the volume of investment licenses granted increased to $69 billion by last June, according to Makiya.[/rtl]
    [rtl]Commenting on the statement of the Iraqi Prime Minister, Mohammed Shia al-Sudani, in late October, that “the volume of investment for the year 2024 has reached $100 billion,” Makiya explained that “that number is correct if we add the $69 billion flowing from the same year with other strategic projects such as the Baghdad Metro project and the (Najaf-Karbala Metro) project, the number reaches $100 billion.”[/rtl]
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    [rtl]Financing and land barriers[/rtl]

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    [rtl]Despite the significant growth in the volume of investments in Iraq, the head of the National Investment Commission pointed out that there are still challenges facing foreign and local investors. He stressed that “the main obstacle for investors is financing investment projects,” explaining that the investment law obliges the commission, in coordination with the Ministry of Finance, to provide facilities and loans to investors. However, “government and private banks operating in Iraq lack the necessary capabilities to finance projects, especially strategic ones.”[/rtl]
    [rtl]Land allocation has also been a challenge for investors in Iraq, according to Makiya, who described it as an “eternal problem” that the commission is gradually seeking to address. He revealed that the Ministry of Finance, which owns most of the land, has granted the National Investment Commission a number of plots of land in six governorates in the southern region, with expectations of obtaining more land in the coming period. He confirmed that the lands and official permits have been allocated for these projects, and that they are now ready to be announced and open to competition among investors.[/rtl]
    [/size]

    [rtl]Iraq Investment Forum[/rtl]

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    [rtl]Haider Makiya told Asharq that the investment opportunities are now in a complete portfolio to be presented at the “Iraq Investment Forum” scheduled to be held in Baghdad, and “it is expected that this will be done at the beginning of next year,” without specifying an exact date.[/rtl]
    [rtl]It is noteworthy that the National Investment Commission had previously announced the organization of the forum in November, but the event was postponed due to the events in Gaza and Lebanon.[/rtl][/size]


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