Prime Minister Mohammed Shia Al-Sudani speaks at IFC-Iraq Partnership Day in Baghdad, marking 20 years of the International Finance Corporation’s presence in the country.
Iraq signs over $1 billion in investment deals, PM says $100 billion in projects underway
BAGHDAD — Prime Minister Mohammed Shia Al-Sudani said Saturday that the volume of Arab and foreign investments in Iraq has reached $100 billion in licenses and companies that have already begun implementing projects.
Speaking at IFC-Iraq Partnership Day in Baghdad, which marked 20 years of the International Finance Corporation’s presence in the country, Al-Sudani emphasized the role of international capital in supporting economic stability and growth.
“The government measures aimed at improving the business environment have clearly led to the attraction of global companies to work and invest in Iraq,” Al-Sudani said. He added that Iraq’s private sector has shown “an effective presence in implementing reconstruction and development projects, despite bureaucratic issues, corruption, and security challenges.”
The prime minister said attracting foreign capital has drawn interest from German, Italian, French, British, and Chinese financial institutions to finance development projects. He noted that legal and administrative reforms and the removal of routine obstacles are helping create new jobs.
During the ceremony, several investment contracts were signed with public and private sector partners. These included a $500 million investment in associated gas and port facilities at Umm Qasr with Basrah Gas Company, and a $250 million expansion in cement and lubricants production with Al Muhaidib Group. Another deal, valued at $125 million, was signed with Al Lureen Investment Company to finance container handling equipment and a storage yard at Umm Qasr Port.
In Sulaymaniyah, the first phase of a green residential real estate development project was signed with Hiwa Rauf for Investment and Development Company, valued at $65 million. The Bank of Baghdad entered a $10 million trade finance credit line, while Sama Al-Manar and Tiryaki Agro launched a $120 million joint investment for sustainable agricultural and industrial projects.
Another major deal included a $250 million partnership with Raban Al-Safina Group to establish a teaching hospital, along with a partnership with Al-Oula Developments for SME advisory services and investment promotion.
Al-Sudani described the partnership with IFC as “important,” highlighting its role in supporting Iraq’s reconstruction and economic development.