What Is The Economic Feasibility? An American Website Monitors The Flow Of Billions Of Gulf Dollars Towards Iraq
Economy Iraq breaking Gulf investments 2024-04-07 07:09
Shafaq News/ Al-Hurra website highlighted the trend of Gulf funds towards investing in various Iraqi sectors during the past two years, indicating that this trend raises many questions about its economic feasibility. The website mentioned in a report seen by Shafaq News Agency:
Gulf capital has been going to Iraq at an accelerated pace over the past two years, which reflects the attractiveness of Baghdad as a new investment destination for the Gulf Cooperation Council countries.
After decades in which Iraq suffered from the scourge of wars and internal violence, Saudi Arabia, Qatar and the UAE entered forcefully through massive economic investments in a country where Iran was able to gain a foothold after the fall of Saddam Hussein's regime in 2003.
Last Friday, the Iraqi Ministry of Planning announced the signing of 12 memorandums of understanding with Saudi Arabia for “specific investment projects,” according to a statement received by Shafaq News Agency.
The ministry said that the signed memorandums of understanding "came with the aim of enhancing cooperation in a number of qualitative investment projects in Iraq."
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