Sudanese Advisor: The government succeeded in attracting investments worth $100 billion
Mawazine News – Baghdad
Prime Minister’s Advisor for Investment Affairs, Mohammed Al-Najjar, confirmed on Wednesday that the Iraqi government has achieved great success in attracting investments worth up to $100 billion during the past two years, pointing out that there are more large projects in various sectors.
Al-Najjar, who also holds the position of director of the Iraq Fund for Development, explained that the contract, which was recently signed with Al-Suwaidi Electric Company, includes investments worth $5 billion and the establishment of three industrial cities in Iraq.
He added that the contract includes the opening of an international Iraqi joint fund specialized in the introduction of industry and advanced education for the country, within the projects of establishing an industrial and economic city aimed at attracting investors in addition to various other projects.
Al-Najjar pointed out that “the contract is a pioneer of its kind”, as it will enable the fund to represent the Iraqi government side, which will open up investment opportunities for local and Iraqi investors and Gulf funds to prepare another fund for the localization of the smart industry in Iraq.
He explained that there are three possible areas for the economic city site, taking into account the service of labor and the surrounding cities and governorates, as options are currently being studied in central and southern Iraq.
The Iraq Fund for Development had earlier announced the signing of a memorandum of understanding with Al-Suwaidi Electric International Company, which aims to establish an Iraqi investment fund under the name of “Empotization Fund” to attract local and international investments to develop strategic projects in several sectors, in addition to developing economic alternatives in the fields of agriculture, industry and services, in order to reduce dependence on oil.
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