Government financial advisor: The 48 agreements with Washington will enhance Iraq’s economic openness.
Government financial advisor: The 48 agreements with Washington will enhance Iraq’s economic openness.
7-18-2026
Prime Minister’s Advisor Mazhar Muhammad Salih confirmed on Saturday that the 48 agreements with Washington are a step towards enhancing economic openness. He indicated that the memoranda of understanding with the United States reflect Iraq’s direction towards attracting foreign investments. Salih told the official news agency that “the signing of 48 agreements, memoranda of understanding, and a declaration of partnership between Iraq and the United States represents an important step in the path of economic openness and strengthening investment relations. However, the real impact of these agreements will depend on the extent to which they are transformed from documents of understanding into practical, implementable projects.”
He added that “these memoranda reflect, from an economic standpoint, Iraq’s desire to expand the base of international cooperation and attract foreign capital, which sends positive messages to investors and global markets that the Iraqi investment environment is witnessing a movement towards greater stability and openness.”
Saleh explained that “the entry of international companies into the Iraqi market would contribute to the transfer of technology and administrative and technical expertise, raise the efficiency of productive sectors, create job opportunities, as well as support efforts to diversify the economy and reduce dependence on oil revenues through investment in the energy, industry, infrastructure, communications and services sectors,” indicating that “these memoranda represent an indication of growing international confidence in Iraq’s economic potential, but this confidence will not be consolidated unless it is accompanied by real reforms in the investment environment, including simplifying administrative procedures, enhancing transparency, ensuring the protection of investors and providing legislative and security stability.”
Saleh also pointed out that “foreign investors do not only look at the size of the signed agreements, but also at the state’s ability to fulfill its obligations and provide a stable business environment capable of achieving rewarding returns. The success of these memoranda will depend on the speed of moving to the implementation phase and removing the obstacles that have long faced investment projects in Iraq.” He continued, “The declaration of partnership with the public and private sectors represents a modern economic approach that aims to benefit from the capabilities of both parties in implementing development projects. The public sector owns the land, infrastructure, and the legal and institutional framework, while the private sector possesses the administrative expertise, the ability to finance, innovate, and use modern technologies. Through this model, joint projects can be implemented in the fields of energy, electricity, transportation, housing, industry, and services, according to the formulas of partnership between the public and private sectors, which reduces the financial burdens on the state and increases the efficiency of project management and accelerates their completion.”
Saleh also noted that “these partnerships are expected to open new horizons for economic and financial cooperation, whether through direct investment, joint financing, the establishment of investment funds and the financing of infrastructure projects, as well as enhancing cooperation between banks and financial institutions to provide credit facilities and investment guarantees,” stressing that “in the medium and long term, these partnerships can contribute to raising the contribution of the private sector to the gross domestic product, stimulating economic growth, increasing non-oil revenues, and enhancing the competitiveness of the Iraqi economy.”
He stated that “achieving these results requires the continuation of economic reforms, the development of legal frameworks regulating partnerships, and ensuring transparency and governance in the implementation of projects, so that agreements and memoranda of understanding are transformed into tangible economic achievements that positively impact development and economic stability in Iraq.”
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