Urging foreign investment

Prime Minister al-Sudani meets Egyptian business delegation

BAGHDAD — Prime Minister Mohammed Shia Al-Sudani met with an Egyptian business delegation on Wednesday, emphasizing the Iraqi government’s commitment to enhancing cooperation with Egyptian companies across various investment and industrial sectors. Al-Sudani highlighted the importance of strengthening partnerships and exchanges with the Iraqi private sector.

During the meeting, the prime minister praised the experiences and successes of Egyptian companies in housing, real estate development, and various industrial sectors. He specifically noted the significant opportunities available for Egyptian companies in the Iraqi pharmaceutical industry.

Al-Sudani affirmed the government’s active support for investment in industry and agriculture in Iraq, citing ongoing financial and banking reforms aimed at improving the investment environment. He mentioned that approximately 40 applications had been submitted for establishing local pharmaceutical factories, indicating tangible progress in the industrial sector.

The prime minister also discussed the second phase of the new residential cities, pointing out the great need to establish factories for construction materials. He added that residential projects represent promising opportunities for Egyptian companies.

The Egyptian business delegation expressed eagerness to enter the Iraqi market and collaborate with the Iraqi private sector to develop investment plans and infrastructure projects. They highlighted Iraq’s attractiveness for investment and business, lauded its openness to new avenues of cooperation and partnership between the two countries.