Wawazine News – Economy
The Advisor to the Prime Minister for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Sunday that foreign investment is an important step towards enhancing economic growth in Iraq, and isolates the country from the fluctuations of the oil asset cycles and the problems of oil price volatility, explaining that linking the international economy to the Iraqi economy contributes to achieving sustainable economic growth, based on the indicators of the National Development Plan 2024-2028.
Saleh said in a statement to the official agency: “The flow of foreign investments to Iraq means the development of linking international economic activity to the country’s productive economy, which enhances the environment that encourages investment thanks to Iraq’s goods and material and human resources.”
He added that this linkage contributes
to enhancing economic growth in accordance with the development plan, which aims to diversify the national economy, stressing that foreign direct investments contribute to the introduction of advanced technology and improving organizational and administrative thought, which leads to reducing unemployment, increasing job opportunities and improving the level of income in the country.
Saleh pointed out that foreign investment has a major role in developing infrastructure in many vital sectors such as electricity, energy, transport, communications and information technology, and it also contributes to protecting the national economy from economic fluctuations that affect the oil sector.
Saleh concluded his statements, stressing that the benefits of foreign investment are clearly embodied when this investment is integrated into the local labor market, which maximizes the economic benefit and increases the employment of the local labor force, thus contributing to strengthening the movement of the national economy.
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