Investment Opportunities and Challenges in Iraq’s Energy and Real Estate Sectors
Iraq’s investment advisor, Mohammed Al-Najjar, highlights the energy and real estate sectors as key areas for investment but points out challenges such as outdated legal systems and recent conflicts. While foreign investments are limited, there are commitments from countries like France and the UK, alongside emerging Gulf and Egyptian interest.
Mohammed Al-Najjar, the Prime Minister’s Advisor for Investment Affairs, outlined attractive sectors for both local and foreign investment in Iraq, specifically highlighting the energy and real estate sectors. He noted that local investments are mainly concentrated in the industrial, services, and agricultural sectors, while foreign investment has not met expectations, with only modest contributions observed in the energy sector.
Al-Najjar emphasized the need for a more transparent legal environment for foreign investors, indicating that legal frameworks require updates to meet twenty-first-century standards. He assessed the primary investment sources in Iraq, with France and the United Kingdom leading through significant contracts. He also mentioned ongoing but limited Saudi investments hindered by pending parliamentary approval.
He further discussed emerging Gulf and Egyptian investments, which are currently under evaluation. Al-Najjar confirmed a strong desire for the execution of international agreements but noted that the recent conflict on October 7 has impacted progress, as many agreements require time and are influenced by bilateral diplomacy.
In conclusion, Iraq’s investment landscape presents significant opportunities, particularly in the energy and real estate sectors. However, challenges such as outdated legal frameworks and external conflicts hinder foreign investment potential. With ongoing commitments from various nations and a robust domestic market, there remains hope for improved investment implementation moving forward.
Original Source: ina.iq
