Al-Sudani urges UK investment cooperation at Basra business conference

BASRA — Prime Minister Mohammed Shia Al-Sudani called for stronger international partnerships and private sector engagement during the Iraq-Britain Business Council Conference held Thursday in Basra, describing the event’s theme, “Gateway to Iraq,” as “a vision for a new phase” in economic development.

“It is not merely a conference slogan,” Al-Sudani said, “but a vision in which Basra, and all Iraqi provinces, serve as genuine gateways for investment, trade, and mutually beneficial opportunities.”

Al-Sudani outlined his government’s efforts to modernize infrastructure, and create a more enabling environment for business, citing Basra’s strategic location, Iraq’s natural resources, and projects like the Faw Grand Port and Development Road as central to those plans.

“We welcome technical and investment partnerships with reputable companies, including British firms,” he said, adding that Iraq’s policies aim to connect local entrepreneurs—particularly women—with international networks.

Statement from Al-Sudani’s media office:

Prime Minister Mohammed S. Al-Sudani attended today, Thursday, the Iraq-Britain Business Council (IBBC) Conference held in Basra Province under the theme “Gateway to Iraq”.

The Prime Minister stressed that “Gateway to Iraq” is not merely a conference slogan, but a vision for a new phase in which Basra, and all other Iraqi provinces, serve as genuine gateways for investment, trade, and mutually beneficial opportunities. He noted that the success of this vision depends on the ability of the government, the private sector, and international partners to translate dialogue into programs then into projects that improve the lives of citizens.

The conference features high-level sessions and panel discussions with senior officials from Iraq and the United Kingdom, as well as leading international companies. It aims to deepen economic and commercial relations between the two countries, facilitate engagement between companies and stakeholders, and explore avenues for investment and cooperation across various sectors such as energy, finance, climate, and education.

Below are the key points highlighted in the Prime Minister’s remarks:

🔷 The conference theme, “Gateway to Iraq” reflects the government’s vision of Basra as a vital economic outlet and a central hub for services, energy, and logistics.

🔷 We have pursued parallel tracks to enhance the business environment, modernize infrastructure, reform the energy sector, and empower the private sector as a principal partner in development.

🔷 Our government has adopted a balanced foreign policy and leveraged Iraq’s strategic location to serve as a bridge between East and West, contributing to a broader regional vision for stability and development.

🔷 Iraq’s strength lies in its oil and gas resources, in addition to the Faw Grand Port, the Development Road, and its position as a corridor linking the Gulf to Asia and Europe.

🔷 We emphasize the importance of developing business practices and financial systems; the government has streamlined administrative processes, advanced digital transformation, and reduced procedural obstacles.

🔷 We are working with Iraqi banks and international partners to develop financing instruments that support strategic, medium-sized, and small productive projects.

🔷 We welcome technical and investment partnerships with reputable companies, including British firms and members of the Iraq-Britain Business Council (IBBC).

🔷 We stress the development of the logistics sector, ports, berths, and maritime transport, as they constitute essential drivers of economic growth.

🔷 We have achieved optimal utilization of oil and gas resources; previously, Iraq was losing between 8–9 billion dollars annually due to fuel imports and gas flaring.

🔷 Over the past three years, we have established a clear roadmap to address challenges associated with oil and gas investment.

🔷 The Faw Grand Port and the Development Road represent a “dream project” to drive economic transformation and shape a new Iraq.

🔷 For the first time in Iraq’s modern history, we have secured a maritime opening to the Gulf through a navigation channel with a depth of 20 meters and a length of 23 kilometers.

🔷 We look forward to partnership, training, and financing initiatives that connect Iraqi women entrepreneurs with their counterparts in the United Kingdom.

🔷 The platforms offered by the Iraq-Britain Business Council contribute to advancing projects in energy, infrastructure, services, education, and training.