Exclusive: Washington agreements redraw the investment map in Iraq
Exclusive: Washington agreements redraw the investment map in Iraq
2026-07-18
Shafaq News – Washington/ Mustafa Hashim
Ali Al-Khawam, CEO of Riyadh Investment Group, considered the signing of about 58 agreements and memoranda of understanding between Iraq and the United States during the investment conference in Washington a turning point in the course of the Iraqi economy, stressing that it paves the way for redrawing the investment map in the country, especially in the oil and gas, industry, healthcare and food security sectors.
Al-Khawam told Shafaq News Agency that what distinguishes these agreements is that they are no longer just memoranda of understanding, but rather came as a result of prior preparations based on the needs of the Iraqi market and the capabilities of international companies, with a real will from both the Iraqi and American sides to turn them into feasible projects.
He added that his group held a series of meetings with international companies with the aim of launching new projects in the oil, gas and various industries sectors, covering the central, southern and northern governorates of Iraq, noting that these understandings received direct support from the Iraqi government headed by Prime Minister Ali al-Zubaidi, in addition to support from the US administration.
Regarding the energy sector, Al-Khawam stressed that Iraq has a long-established industrial base and infrastructure, but wars and sanctions have hampered its development, noting that the country is currently working on diversifying its oil and energy export outlets and not being satisfied with a single route.
The CEO of Riyadh Investment Group concluded that having multiple export outlets is a “healthy strategic option” that gives Iraq greater flexibility in facing regional and international changes, away from political pressures, stressing that Iraqi competencies are capable of absorbing modern technologies and rehabilitating the productive sectors in a short period of time.
Shafaq News Agency had obtained an official list of agreements and memoranda of understanding scheduled to be signed during Iraqi Prime Minister Ali al-Zaidi’s visit to the United States.
The list included 48 agreements and memoranda of understanding with the US government and international companies and institutions, most of which are concentrated in the energy, investment, infrastructure, technology and health sectors.
According to the list obtained by the agency, global energy companies are leading the agreements to be signed, most notably Chevron, Shell, BP, ConocoPhillips, Halliburton, Excelerate Energy, HKN Energy, and GE Vernova, along with Kar Energy, within the framework of projects aimed at developing the oil and electricity sectors in Iraq.
The list also includes agreements in the fields of communications and technology, most notably with Starlink and Cisco, in addition to agreements in the financial sector with JPMorgan, and in the health sector with Abbott and Thermo Fisher Scientific, as well as agreements in the fields of education, institutional accreditation, investment, real estate development, and food industries, with the participation of American and international companies and institutions.
The list also included an agreement between the governments of Iraq and Syria, along with memoranda of understanding with the American University in Iraq – Baghdad, PepsiCo, and institutions specializing in energy, engineering and infrastructure, as well as a cooperation agreement between the US-Iraq Business Council ( USIBC) and the Federation of Iraqi Chambers of Commerce.
The agreements reflect the Iraqi government’s direction towards expanding economic cooperation with the United States and attracting foreign investments in the energy, industry, technology and services sectors, coinciding with Al-Zaidi’s visit to Washington and his meetings with US President Donald Trump, government officials and leaders of American companies.
shafaq.com
