Mohammed Al-Najjar, Iraq’s Prime Minister’s Advisor, discusses key investment sectors—energy and real estate—as attractive to investors. He highlights legal obstacles and the recent impacts of geopolitical events on investment progress while identifying leading countries involved in foreign investments.
On Thursday, Mohammed Al-Najjar, the Prime Minister’s Advisor for Investment Affairs in Iraq, presented insights into the sectors attracting both local and foreign investments. He noted that energy and real estate development remain the primary focus for investment, while internal resources are more geared towards industrial services and agriculture. Unfortunately, foreign investments in energy sectors have fallen short of expectations.
Al-Najjar indicated that a notable activity is occurring to explore Iraq’s investment market, with some opportunities reaching a decision-making stage while others are under evaluation. The primary barrier that foreign investors face is a lack of a supportive legal environment, necessitating updates in laws to meet contemporary requirements.
He highlighted that France and Britain are leading in investment stakes, with France’s Total contract and the UK’s Bibi contract. Additionally, there are Saudi investments that still await legislative approval for protective measures. Furthermore, investments are also coming from diverse Gulf nations and Egypt, although much of this is still pending study.
Al-Najjar expressed optimism regarding the implementation of international agreements, stating that the delay in some areas is influenced by legislative issues and recent events, such as the war on October 7. Most agreements, being bilateral in nature, require patience for successful execution, although progress is being made on many fronts.
The article highlights the current landscape of international investments in Iraq, emphasizing the energy and real estate sectors as primary attractions. Despite some progress, significant challenges remain due to legal limitations and recent conflicts. Potential from diverse Gulf investments and partnerships with nations like France and Britain shows promise, yet their full realization is contingent upon overcoming existing barriers.
Original Source: ina.iq
