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Experts: Iraq has become an attractive environment for investment
Economic 12/05/2024
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Economic experts believe that Iraq has become an attractive environment for investments, especially foreign ones, thanks to the measures of Prime Minister Mohammed Shia al-Sudani's government, praising the results of his recent visit to Spain.
They indicated that the results of the visit will be a gateway for further openness to Europe as a key member of the European Union.
Economic expert Dhurgham Mohammed Ali told Al-Sabah: "Iraq has not witnessed active economic cooperation over the past years with Spain in particular and Europe in general, so the move towards Spain is a gateway for Europe to invite companies to invest in Iraq and benefit from European experiences in agriculture and clean renewable energy."
He added, "The Prime Minister's visit to Spain is to open a window of cooperation that will be an economic definition of the Iraqi economy with the European economy, in addition to being an opportunity to market the development path as a strategic corridor for the near future, and make it a basic crossing for Euro-Asian trade."
For his part, economic expert Abdul Hassan Al-Shammari told Al-Sabah: "The steps taken by the government to develop relations with Western countries such as Spain, and to sign very important protocols with it, as it is an advanced and developed country in various fields, which can invest in implementing advanced and modern projects by this country with the latest in science and technology in the world."
He added that "Iraq must turn to these advanced countries, especially Europe, America and Britain, as well as Japan, Singapore, Malaysia, Taiwan, and other advanced and developed countries," praising the steps taken by the Prime Minister despite the challenges.
He pointed out that "these steps taken by the Prime Minister constitute reconciliation with the world, because Iraq has been isolated from the world for a long period of time, so the government has now begun to bring Iraq closer to the world, and this will inevitably be reflected in the development of the Iraqi economy."
As for economic expert Alaa Al-Fahd, he spoke to Al-Sabah about the investment movement witnessed by Iraq under the current government by opening up horizons for economic and investment cooperation with various countries of the world.
Al-Fahd said: "The Prime Minister's visit to Spain is very important, as it aims to stimulate the Iraqi economy by attracting international investment companies," noting that "investment, whether foreign or local, is considered one of the most important pillars of economic development in Iraq, as the government headed by Mohammed Shia al-Sudani has focused on investment aspects and development projects with high economic feasibility, including the Development Road Project and the Faw Port Project."
He continued: "These projects, if completed, will be a gateway and a beginning for development projects and investments, and attracting foreign investment, while greatly benefiting from the state of security and political stability in Iraq, can be a gateway for investments in various vital fields and sectors such as the services sector, housing sector and infrastructure, and this comes through economic partnerships and the conclusion of memoranda of understanding to attract capital." The
Prime Minister paid an official visit to Spain last week, where he sponsored the signing of several joint memoranda of understanding with his Spanish counterpart, according to a statement from the Prime Minister's media office.
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