With over $70 billion, Baghdad offers dozens of investment opportunities to Tehran.
Iraqi Ambassador to Tehran Nasser Abdul Mohsen Abdullah revealed on Monday that Iraq offers dozens of investment opportunities to Iranian companies in vital sectors, including renewable energy, oil and gas, heavy industries, free zones, and industrial complexes.
Iran Front Page reported, in a report translated by Shafaq News Agency, that “the head of the Iranian Chamber of Commerce, Samad Hassan Zadeh, called during his meeting with the Iraqi ambassador to expand the volume of Iranian investments in Iraq,” explaining that “Baghdad seeks to strengthen the economic partnership between the two countries and push the wheel of bilateral trade towards higher levels through wide-ranging investment facilities.”
The Iraqi ambassador indicated, according to the newspaper, that “his country is offering 27 investment opportunities in the field of renewable energy distributed across 14 governorates, in addition to two major projects in the oil and gas sectors, along with 22 opportunities in heavy and medium industries, nine investment opportunities in industrial zones and free trade zones, and 10 opportunities in the agricultural sector, most of which are concentrated in the governorates near the Iranian border, in addition to 10 opportunities in the healthcare sector and 25 opportunities in the housing sector.”
He added that “investment prospects in Iraqi free zones and industrial complexes alone could exceed $70 billion,” adding that “expanding Iranian participation would contribute to achieving a trade balance between the two countries.”
For his part, the head of the Iranian Chamber of Commerce stressed “the importance of removing obstacles facing Iranian investors, most notably bank guarantees and legal procedures,” asserting that “joint production projects are a priority for Tehran at this stage.”
The Iranian official also called for “providing a transparent legal environment that preserves investors’ rights and encourages increased engagement in the Iraqi market.”
Shafaq.com