Iraq is aiming to attract $250 billion worth of investments over the next two years building on recent inflows of Arab and foreign capital, the spokesperson of its investment promotion agency said.
National Investment Commission (NIC) spokesperson Hanan Jassim told the Iraqi News Agency (INA) that government policies along with legislative and regulatory reforms have enabled Iraq to secure more than $100 billion in Arab and foreign investments across different economic sectors over the past two years.
These investments have had a direct impact on driving sustainable development and diversifying the country’s sources of income, she said, underlining inflows into industry, infrastructure, housing, energy, education, and health. These projects, she said, have created jobs, expanded GDP, and reduced dependence on oil as Iraq’s main source of revenue.
Jassim said government measures, NIC-led initiatives such as the one-stop-shop system, Iraq’s accession to international investment protection agreements, and the launch of a national investment map with more than 100 strategic opportunities have driven progress in the country.
(Writing by Majda Muhsen; Editing by Anoop Menon)
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