Minister of Industry from the UAE: Diversification of Iraq's income is a strategic option, not a transitional one

Minister of Industry from the UAE: Diversification of Iraq's income is a strategic option, not a transitional one



"The Iraqi government is serious about diversifying the sources of income and supporting the private sector as a strategic option, not a tactical or a transitional one," the minister of industry and minerals said.

The meeting was held at the Abu Dhabi Chamber of Commerce and Industry in the presence of members of the official Iraqi delegation, including the head of the Investment Authority, the economic adviser to the Prime Minister and Iraqi government officials and businessmen, to discuss means of boosting joint investments to implement strategic and vital projects serving both countries.

"The Iraqi Minister of Industry confirmed during the meeting that Iraq has many opportunities and great natural and human resources and that the Iraqi government is serious about diversifying the sources of income and supporting the private sector as a strategic option, not tactical or interim, despite the challenges and difficult circumstances and the crises experienced by the country and its impact on the whole of life Public and infrastructure projects in Iraq. "

Al-Sudani pointed out that "the government's move towards real reforms through a review of all laws and decisions that would provide advantages and facilities for businessmen and investors."

He pointed out that "one of the objectives of this meeting is to review the problems and obstacles faced by the UAE businessmen and investors, pointing at the same time to the preparation of an investment map showing most projects in all governorates of Iraq," stressing the importance of continuing trade visits and participation in international exhibitions, Regulatory framework between businessmen in Iraq and the UAE through a joint council of Iraqi and Emirati businessmen. "

He stressed "the need to take into consideration and study all the observations and issues raised during the meeting and follow-up."

For his part, the head of the Investment Authority R Sami Al-Araji reviewed the investment opportunities available for 2017 and distributed on ten economic sectors such as oil and gas, industry, agriculture, housing, infrastructure, transport, health, education, electricity, telecommunications and tourism.

Araji pointed out that "each of these sectors include large projects and medium and small strategy in coordination with the ministries of sectors and provinces, in addition to the preparation of the second amendment to the investment law and provides evidence of Iraqi investment," pointing out "the great efforts with the US Department of Commerce regarding the law of international trade and investment in Iraq".

For his part, the Director General of the Abu Dhabi Chamber of Commerce and Industry said, "His country's desire to develop joint economic action and its keenness to make every effort to establish economic and investment partnerships to serve the sustainable economic and social development between the two countries." National companies to invest and execute projects in Iraq. "

LINK