Prime Minister’s Advisor: Investment Boosts Economic Growth, Keeps Iraq Away from Oil Price Fluctuations
Prime Minister’s Advisor: Investment Boosts Economic Growth, Keeps Iraq Away from Oil Price Fluctuations
2025-03-09
The Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Salih, stated today, Sunday, that foreign investment constitutes an important step towards enhancing economic growth in Iraq, and isolates the country from the fluctuations of oil asset cycles and the problems of oil price fluctuations, explaining that linking the international economy to the Iraqi economy contributes to achieving sustainable economic growth, based on the indicators of the National Development Plan 2024-2028, as Salih stated, in a statement to the official agency, “The flow of foreign investments to Iraq means the development of linking international economic activity to the country’s productive economy, which enhances the environment that encourages investment thanks to what Iraq possesses in terms of material and human resources.”
He added that this linkage contributes to enhancing economic growth in accordance with the development plan, which aims to diversify the national economy, stressing that foreign direct investments contribute to introducing advanced technology and improving organizational and administrative thinking, which leads to reducing unemployment, increasing job opportunities and improving the level of income in the country.
Saleh also pointed out that foreign investment plays a major role in developing infrastructure in many vital sectors such as electricity, energy, transportation, communications and information technology, and that it also contributes to protecting the national economy from economic fluctuations that affect the oil sector.
Saleh concluded his statements by stressing that the benefits of foreign investment are clearly embodied when this investment is integrated into the local labor market, which maximizes the economic benefit and increases the employment of the local workforce, thus contributing to strengthening the movement of the national economy.
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