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Al-Sudani: Iraq is a virgin land for investment opportunities in all sectors.

 

Baghdad Prime Minister Mohammed Shia Al-Sudani

affirmed, today, Wednesday (April 9, 2025), that Iraq is a virgin land for investment opportunities in all sectors .

Al-Sudani's media office stated in a statement received by Baghdad Today that  "Prime Minister Mohammed Shia al-Sudani received today, Wednesday, a large economic delegation from the American Chamber of Commerce, and a number of American company presidents and investors, in the presence of the Chargé d'Affairs at the US Embassy in Iraq."

According to the statement, Al-Sudani reviewed “the facilitations and measures taken by the government to facilitate the entry of businessmen and companies into the Iraqi market, which now boasts many promising opportunities,” noting that “Iraq provides a broad and diverse market for various products, goods, and services.”

Al-Sudani stressed that “the Iraqi people have accomplished much in confronting terrorism and laying the foundations for their developmental renaissance,” noting “the importance of bilateral relations with the United States and their sustainability, especially since Iraq today is a distinguished democratic model in the region.”

The statement added that Al-Sudani "stressed that due to the war of the 1980s, the blockade of the 1990s, and the war on terror over the past two decades, development in Iraq has been delayed in all sectors," indicating that "Iraq is a virgin land for investment opportunities in all sectors."

Al-Sudani explained that “ Iraq today enjoys political, security, social, and economic stability, and is witnessing an unprecedented development renaissance,” noting that “Iraq has a skilled workforce, and we have promising competencies in various fields.”

Al-Sudani continued, “Our government has worked to improve the business environment, and we have made efforts to reform laws to facilitate company registration and operations in Iraq.” He noted that "Iraq has an investment law that provides many advantages to investors, and the government is working on a package of laws to encourage foreign investment."

He added, "Iraq's trade balance does not suffer from a deficit, but what is required is to correct the imbalance in the economy's structure and reduce its dependence on oil." He added, "Iraq is an industrial and agricultural country, and represents the shortest corridor between global trade from the East and the West, which passes to Europe via Türkiye."

He said , “ The development road project will be the shortest economic corridor linking Asia to Europe, and the least expensive for transporting goods,” stressing that “Iraq possesses minerals that have not yet been exploited, and it is the world’s largest country in sulfur reserves, and the second largest in phosphate.”

He explained, “Iraq produces 4 million barrels of oil per day, but the associated gas is flared, and at the same time we import gas to operate power plants.” He added, "Our government has developed a vision for projects, and has begun implementing contracts with international companies. Gas flares will cease by early 2028."

He continued, “Iraq is among the top ten countries in the world in terms of natural gas reserves,” noting that “there are those who paint a negative picture of the situation in Iraq, which is unfair and inaccurate.”

Al-Sudani concluded by saying, “Iraq has witnessed the entry of numerous investment companies to implement projects in the energy, housing, industry, and agriculture sectors, with the value of investment licenses reaching $88 billion.” He explained that, “We have granted sovereign guarantees to the private sector to implement projects in
various sectors.”