Iraq unveils $450 billion in investment opportunities at Baghdad forum

BAGHDAD — Prime Minister Mohammed Shia al-Sudani on Saturday announced $450 billion in investment opportunities across multiple sectors, presenting Iraq as a country open for business at a two-day forum in Baghdad.

Sudani told the Iraq Investment Forum, which brought together government officials, business leaders, and foreign investors, that Iraq is “entering a period of development and reconstruction” and outlined dozens of planned projects across housing, energy, infrastructure, and industry. He thanked the National Investment Commission and the Iraqi Economic Council for organizing the event.

“Our government’s balanced foreign policies, and prioritizing Iraq’s interests, have created an ideal environment for investment,” Sudani said. He emphasized reforms under way to attract investors, including amendments to laws on joint stock and holding companies, new measures to support small and medium-sized enterprises, and steps to complete banking reforms. He also pledged to raise Iraq’s credit rating to reduce borrowing costs and insurance premiums for projects.

Sudani pointed to Iraq’s progress in integrating with the global economy, citing the expansion of electronic payment systems, governance reforms in the financial sector, and efforts to digitize government services to cut bureaucracy.

He announced that Iraq has already surpassed $100 billion in investments and said the government’s “Riada” youth initiative had engaged more than 500,000 young Iraqis, trained 92,000, and generated 12,000 new projects and 20,000 jobs.

Housing was a central theme of the forum. Sudani said Iraq had launched “the largest housing projects in the region,” with more than one million housing units under way in seven cities and three more nearing award, part of a broader plan for 60 new urban developments across the country.

The prime minister also highlighted the revival of Iraq’s manufacturing base, saying 54 domestic factories are already exporting to regional and international markets. He described investment and industrial success in pharmaceuticals as “an unprecedented achievement in the history of Iraqi industry.”

Sudani stressed that Iraq is building partnerships with global firms in fertilizer, sulfur, phosphate, steel, construction materials, and food industries. He said the government had reactivated the Industrial Coordination Council with private-sector participation to carry out strategic projects.

He added that a special conference will be held to showcase opportunities in the Development Road project, a flagship transport and trade corridor linking the Gulf to Turkey, describing it as one of the most ambitious initiatives in the region.

To institutionalize cooperation with investors, Sudani said Iraq plans to establish a permanent council of Arab and foreign investors “to provide advice and information to support the development of investment in Iraq” under the prime minister’s office.