Iraqi Prime Minister Mohammed Shia al-Sudani unveiled investment opportunities worth $450 billion across multiple sectors, signaling an ambitious drive to diversify the country’s economy and attract global capital.
Speaking at the opening of the Iraq Investment Forum in Baghdad on Saturday, which drew wide Arab and international participation, Sudani highlighted progress in integrating Iraq with the global economy, expanding electronic payment systems, and improving financial governance.
The two-day forum, attended by around 600 business leaders and investors from 32 countries, features panel discussions with ministers from Iraq and the wider Arab region.
Sudani said a dedicated conference will be held to showcase opportunities linked to the Development Road project, describing it as the most extensive in the region. He noted that current investment volumes have already surpassed $100 billion, underscoring what he called the soundness of Iraq’s strategy to diversify its investment environment.
The prime minister pointed to the Riyada initiative, which has engaged more than half a million young Iraqis, trained 92,000 participants, and produced 12,000 projects and 20,000 jobs. He cited successful partnerships with international firms in fertilizers, sulfur, phosphates, steel, and construction, as well as in the food industry.
Sudani described Iraq’s growing pharmaceutical sector as unprecedented in the country’s history, noting that 54 Iraqi factories are now exporting to regional and global markets. He also emphasized major housing projects under way, representing more than one million units across 60 planned new cities, seven of which have already been awarded and three more pending.
Haider Makkieh, head of the National Investment Commission, told the forum that projects valued at over $100 billion have created nearly one million jobs. He said the commission has targeted underdeveloped sectors such as renewable energy, waste management, and gas processing, advancing Iraq’s shift toward a green economy.
For his part, Ibrahim al-Baghdadi, president of the Iraqi Economic Council, confirmed the government’s backing for strategic and medium-sized projects. He said the forum would present more than 160 opportunities through 20 ministry-led workshops and 14 sessions, alongside networking between Iraqi, Arab, and foreign business leaders.
In remarks to Asharq Al-Awsat, Economist Kamal al-Kubaisi described the event as a pivotal step in reducing Iraq’s reliance on oil. He noted that the forum represents a real chance to advance agriculture, industry, tourism, and renewable energy, but stressed the need for a stable, transparent investment environment and stronger public-private partnerships.
Kubaisi added that Iraq was now positioning itself on the regional and international investment map, a move that could serve sustainable development and provide the Iraqi people with a vital new economic path.
