New investment opportunities: The International Business Forum kicks off in Baghdad.
New investment opportunities: The International Business Forum kicks off in Baghdad.
2026-02-05 04:16
Shafaq News – Baghdad
On Thursday, the capital Baghdad witnessed the launch of the International Business Forum, coinciding with the activities of the 49th Baghdad International Fair, amid emphasis on the need for economic openness and the promotion of investment, which has exceeded $148 billion, amid the announcement of 65 new investment opportunities in the country.
Ali Razouqi Al-Lami, Deputy Director of the Prime Minister’s Office, told Shafaq News Agency that “the International Business Forum represents a strategic platform to support the investment environment and expand economic partnerships between Iraq and other countries.”
He added that “the forum aims to promote economic openness and stimulate investment, transform exhibitions from mere display spaces into effective tools for development, and focuses on simplifying procedures for foreign companies, showcasing investment opportunities, and strengthening partnerships through direct meetings between companies and government entities, which contributes to signing agreements and facilitating cooperation.”
He pointed out that “the broad government participation enhances investor confidence in the Iraqi market and supports long-term investment decisions,” stressing that “Iraq is moving steadily towards becoming a stable and attractive business environment, based on its location and resources.”
For his part, the head of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, confirmed to Shafaq News Agency that “the International Business Forum is an important economic gathering held on the sidelines of the Baghdad International Fair, and includes a large number of international companies, with the aim of showcasing Iraq’s investment potential.”
Al-Zuhairi explained that “the volume of investment in Iraq exceeded $148 billion, while the Iraqi private sector contributed more than $37 billion,” noting that “the services sector is witnessing remarkable growth, and includes more than 10 million workers in the fields of hotels, buildings, restaurants and banks.”
He added that “the productive sectors represent distinguished pillars in the national economy,” stressing that “the view of foreign countries towards Iraq is witnessing continuous improvement day after day, in light of the economic and investment developments achieved.”
In addition, during his participation in the International Business Forum, the Chairman of the National Investment Commission, Haider Makkiya, gave a detailed explanation of the Commission’s projects and investment opportunities, noting the announcement of 65 investment opportunities displayed on the Commission’s official website, in addition to presenting a number of projects that have been invested in by local, Arab and international companies.
Makkiya reviewed the map of the submarine cable project and the possibility of Iraq benefiting from its strategic geographical location to extend international cables, which would contribute to strengthening the infrastructure and communications.
Makkiya told Shafaq News Agency that “there are many strategic projects to provide non-oil revenues, and there is a desire from investors and foreign companies to work in Iraq.”
He added that “there are many investment opportunities and projects on the path to development, and that Al-Tayeb Economic City will be one of the major industrial cities in the region, and will cover all the needs of the ministries and state departments for equipment and devices, and after self-sufficiency, the products of the industrial city can be exported abroad through the path of development.”
He pointed out that “the studies that are on the path to development will be completed this year, and after the studies are completed, work will begin on the projects, including the Al-Tayeb Economic City.”
He announced that there is coordination with the Syrian and Lebanese sides, where preliminary approvals have been reached to implement a project to establish a new oil transfer system to transport Iraqi oil through Syrian and Lebanese territories, using Iraqi funds located in Lebanon, with the aim of opening new export outlets for Iraqi oil towards European markets.
During the International Business Forum, the Petroleum Contracts and Licensing Department at the Ministry of Oil, represented by Ziad Riyadh Salem, presented a detailed overview of investment opportunities in the gas sector in the western region, noting the existence of 12 promising areas where gas wells can be drilled, given their significant potential to enhance gas production and support the country’s energy sector.
Salem explained that these opportunities represent an important area for attracting local and foreign investment companies, and contribute to reducing imports and enhancing self-sufficiency in the field of energy.
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