Al-Sudani presents huge investment opportunities to the American Chamber of Commerce.
Al-Sudani presents huge investment opportunities to the American Chamber of Commerce.
2025-04-09 05:51
Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani received a large economic delegation from the American Chamber of Commerce on Wednesday, including a number of American company presidents and investors, in the presence of the Chargé d’Affaires at the US Embassy in Iraq.
His office said in a statement received by Shafaq News Agency that Al-Sudani reviewed, at the beginning of the meeting, the facilities and measures taken by the Iraqi government to facilitate the entry of businessmen and companies into the Iraqi market.
He explained that Iraq now possesses many promising opportunities across various sectors, as the Iraqi market represents a broad and diverse market encompassing a wide range of products, goods, and services of interest to investors.
In his remarks, Al-Sudani emphasized that the Iraqi people have accomplished much in confronting terrorism and have laid solid foundations for their developmental renaissance. He noted that Iraq today has become a distinguished democratic model in the region.
He stressed the importance of bilateral relations with the United States and efforts to strengthen them, particularly in the economic and investment fields.
The Prime Minister also addressed the challenges Iraq has faced in recent years due to successive wars, noting that the country’s development has been significantly impacted by the war of the 1980s, the blockade of the 1990s, and the war on terror over the past two decades.
However, he emphasized at the same time that Iraq has become a fertile ground for investment opportunities across all sectors, as the country’s political, security, and social situation has become stable, contributing to an unprecedented development renaissance.
Al-Sudani emphasized that Iraq boasts a skilled workforce and promising talent across various fields, and that the government has worked hard to improve the country’s business environment by reforming laws, facilitating company registration procedures, and streamlining operations in Iraq.
He explained that Iraq has an investment law that offers numerous benefits to investors, and that the government is working on a set of new laws that encourage foreign investment.
The Prime Minister noted that Iraq’s trade balance does not suffer from a deficit, but what is required is reforming the economy’s structure and reducing its dependence on oil. He also emphasized that Iraq is a major industrial and agricultural country and is the shortest corridor between global trade between the East and the West, with many trade routes passing through it to Europe via Türkiye.
He added that the “Development Road” project will be the shortest economic corridor linking Asia to Europe, featuring lower freight transport costs.
Al-Sudani touched on Iraq’s mineral wealth, noting that there are many minerals that have yet to be exploited, such as sulfur and phosphate. Iraq ranks first globally in sulfur reserves and second in phosphate.
He also pointed out that Iraq produces 4 million barrels of oil per day, but that the gas associated with this production is burned, while Iraq imports gas to operate its power plants.
He revealed the government’s vision for implementing projects aimed at halting gas flaring by 2028, and has begun implementing contracts with international companies for this purpose.
Speaking about Iraq’s energy situation, Al-Sudani emphasized that Iraq is among the top ten countries in the world in terms of natural gas reserves. He also noted that there are attempts to paint a negative picture of the situation in Iraq, which is unfair and inaccurate.
The Prime Minister noted that Iraq has witnessed the entry of numerous investment companies to implement projects in the energy, housing, industry, and agriculture sectors.
He explained that the value of investment licenses granted in the country has reached $88 billion, stressing that the government has granted sovereign guarantees to the private sector to ensure the implementation of projects in various sectors.
shafaq.com
