Foreign investors are beginning to be attracted to doing business in Iraq as the economic situation improves and the announcement of ISIS’s defeat in the country is revealed, according to a report by the Financial Tribune.
“Many countries have expressed their desire for economic cooperation with Baghdad after they have declared their full victory over terrorism in the country,” the report quoted the UN adviser on the Iraqi economy as saying.
“In recent months, many delegations and government and private companies in Europe and the United States visited Iraq,” he said, referring in particular to the “recent meeting between officials of the Central Bank of Iraq and representatives of Airbus and Total, as well as the visit of the British Prime Minister and a group of companies American. ”
“All this indicates the recovery of Iraq. After declaring the final victory over terrorism, many have indicated that they want to invest in various areas of the Iraqi economy. Iraq has become a lucrative and attractive place for economic cooperation,” he said.
“After falling oil prices, Baghdad desperately needs foreign capital and Chinese companies are already investing in the Iraqi economy,” he said.
At the end of 2016, the World Bank approved a $ 1.485 billion new aid package for Iraq aimed at boosting the country’s economy, stimulating private sector growth and supporting job creation. The country’s 2018 budget provides for strict costing to help the Iraqi authorities pay part Of its debt to the International Monetary Fund.