June 24 2011
Baghdad (IBA).Chairman of Shaker al-Musawi investment Baghdad that investing in Iraq is increasingly popular, especially in the capital Baghdad.
Musawi said in a press statement that Gulf investment comes in by our Prophet that the size of foreign funds coming to the capital amounted to $ 1 billion, and 5.394 awarded Saudi firms trade investment in housing has leaves.
The number of allocation of investment projects in Baghdad until the beginning of the month exceeded 114 projects, at a cost of $ 5.394 billion, pointing out the completion of the allocation of land to be carried out, noting that projects submitted are 21 residential projects, 26 tourist, and 14 of the industrial sector and 41 for the commercial sector, service, and four for the health sector and three for the agricultural sector and the educational sector projects.
The majority of Gulf investors and foreigners heading towards investment in housing and industrial sector because demand on these projects, noting several companies to enter the UAE and Saudi investment in this area, including the Saudi company «law».
«Saudi companies desire and Chinese investment in supermarkets and converted to a major investment of molat Baghdad international fair.
Musawi was drawn to that «the most important problems facing investment lies in the general budget allocations for the investment side, since the operational sector monopoly on 75 percent of the budget, and the rest goes for investment, we found that over the next 25 years, allocations are not sufficient to cover the expenses of half the projects it arises, what means that Arab and foreign investment is urgently needed.
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