Investors confirm that the Iraqi market has an excellent investment environment
The partnership agreement signed between Iraq and Saudi Arabia in private-sector industrial investments is a significant initiative that will improve the level of services in the Iraqi market.
Salman Daoud Salman, the Director Commissioner of Iraqi Diyar Company, stated in an official statement that the private sector of Iraq and Saudi Arabia participated together for the first time under the patronage of the Iraqi Fund for Development.
Al-Diyar Company has acquired 49% of the investments of Saudi Northern Factory in Iraq. The company is considered necessary in the industrial field.
He stated, “The industrial city is considered one of the strategic projects that covers an area of 6,000 dunams and is located in the Al-Najaf Governorate.” He further added that “there are currently six factories under construction in the industrial city, and work is progressing at a continuous pace.”
The director of the Northern Cement Company in Saudi Arabia, Saud Al-Arifi, expressed his happiness about signing a partnership agreement for industrial investments in the private sector. This marks the first investment partnership in the sector at this level. Al-Arifi made this statement to the official agency.
Al-Arifi expressed his hope that the new initiative would inspire other investors to adopt the same approach and collaborate on mutually beneficial investments. He emphasized that the investment environment in Iraq is excellent, opportunities are plentiful, and the market holds promise in all aspects.
“The government is making efforts to support and streamline procedures,” he said. He also urged all investors in the Gulf region to step forward and take advantage of the unique opportunities that will enhance the quality of services and construction in the Iraqi market.”
He said, “Numerous projects will be completed soon.”
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