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Industry reveals details of the Iraqi-Saudi agreement: Riyadh will invest in 4 sectors

On April 23, 2019, Minister of Industry and Minerals Saleh Al-Jubouri revealed details of the memorandum of understanding signed with Saudi Arabia.

Jubouri said in a press statement that "the ministry signed a memorandum of industrial cooperation with Saudi Arabia involved the operation of several factories," noting that "the memorandum will see the light soon, and included in the Saudi side to invest a number of strategic projects in Iraq, To partnership in manufacturing and extractive industries. "

The minister called on "foreign investors to visit the website of the ministry and to see through it investment opportunities."

The spokesman for the ministry, Abdul Wahid Alwan said in a press statement that the coming months will witness the implementation of what was agreed between Iraq and Saudi Arabia, and with the participation of the public and private sectors.

Alwan explained that "the investor needs to legislate a law to support his capital, which comes to Iraq," pointing out that "what was put to invest with the Saudi side is four sectors, namely petrochemicals, iron and steel industry, in addition to mineral extraction industries."

It is noteworthy that Iraq has offered more than 100 industrial investment opportunities on the Saudi side during the mutual visits between Iraq and Saudi Arabia.

Iraq signed 13 cooperation agreements with Saudi Arabia during the visit of Prime Minister Adel Abdul Mahdi, earlier, contained a memorandum of understanding for political cooperation, security, economic, commercial, sports and electrical connection.

Article Credit: https://baghdadtoday.news/
Special Thanks to Charles Bright!!