Iraq open to Russian investments

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Dhahir Mohammed Saleh, the Iraqi prime minister adviser for economic affairs confirmed that Iraq is open for Russian investments in the various sectors of the economy.

And he pointed out in an interview on Tuesday February 7, that mutual investments constitute the best way to build economic relations, adding that Russian companies pay attention to invest in areas such as housing, transportation and industrial modernization, where these companies benefit from the facilities.

Iraq has seen in recent years a decline in investment due to the armed conflict that has ravaged the country, in addition to the large external debt, which prevents attracting investment.

He said that Iraq’s external debt amounted to $ 40 billion, but that could be reduced by 80% in the case of the success of the negotiations with the “Paris Club”.

In 2016, Russian businessmen expect Russian investment growth in Iraq in the event of addressing the issue of Iraq’s external debt, expressing their interest in the oil sector.

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