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Global Report: Tremendous Investment Opportunities in Iraq Despite Corruption and Bureaucracy

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06/24/2021 01:14   Readings 1104   Section: File and Analysis

Global Report: Tremendous Investment Opportunities in Iraq Despite Corruption and Bureaucracy

Baghdad/Obebe: The International Investment Monitor newspaper, concerned with investment affairs, reported, Wednesday, June 23, 2021, that Iraq has tremendous opportunities for investors who bear risks.

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The continuation of Covid-19 contributed to the destruction of Iraq's economy, in addition to the war against terrorist organizations, but it It is still struggling.

The World Bank estimates the reconstruction needs at $88 billion.

Attracting foreign direct investment is a key factor in the reconstruction of the country, especially in light of the lack of domestic funding, however, the investment climate in Iraq is attractive only to investors with the highest degree of risk tolerance.

The World Bank has taken the lead in rebuilding the country, with $355 million allocated for the Iraq Transport Corridors Project.

An elevated metro for Baghdad in the second quarter of 2022, in addition to the contract to rebuild Mosul Airport.

The Iraqi electricity sector agreed in 2020 to contacts with General Electric and Siemens to modernize power stations and the transmission network in Iraq.

And John Menzies won in 2020, the expansion of Baghdad Airport, a London-listed airport services company, which is a very positive sign for foreign investors.

Corruption, institutional weakness, persistent security concerns, and onerous bureaucracy are just some of the major impediments to investing in Iraq, a war-torn country whose peace remains fragile with two million people still displaced from the ISIS conflict.

However, investors with an appetite for markets will They discover the opportunity to participate in the renaissance of Iraq.

The agri-food sector in Iraq is one of the few sectors of the economy, and represents a fertile place for investment in the non-oil scene in Iraq.

Following the Obelisk – Agencies

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