Iraqi Prime Minister Mohammed Shia al-Sudani said on Saturday that foreign investments in his country in the past two years have reached $100 billion in various fields.
He told a business event: “We cannot delay in meeting the needs and hopes of the people or remain hostage to a single source of income for the budget.”
“The private sector is a partner and backer in helping us achieve our vision in structuring the economy,” he added.
He said there are more investment projects with local and foreign companies on the way.
“This is clear evidence that the government is forging ahead in preparing an attractive environment for investment in the country,” Sudani stressed.
Moreover, he said his government was working on restructuring the Iraqi economy, explaining that it was a “pressing need” for a state to carry out its duties.
“We are witnessing a changing world, so we cannot delay in restructuring the economy and supporting the private sector. This issue has been delayed for decades due to wars and conflicts,” remarked the PM.
The World Bank's International Finance Corporation (IFC) signed a $500 million investment contract with Iraq's Basrah Gas Co. on Saturday for associated gas and the development of facilities at the Umm Qasr port, the prime minister's office said.
