Madrid Chamber of Commerce: Iraq has promising investment opportunities

 
10/17/2020

Economy News - Baghdad

The President of the Madrid Chamber of Commerce, Angel Asensio, announced that Iraq has promising investment opportunities consistent with Spain's approach to internationalize its companies.

In his speech at the "International Economic Conference between Iraq and Spain ," Asensio said,  "In Iraq promising investment opportunities are consistent with Spain's approach to internationalizing its companies, and Iraq is rich in its resources and young energies, and in return, the sectors that Iraq needs, including housing, reconstruction, digitization and qualification of cadres. All workers are available to the companies to achieve the aspirations of both sides. "

On the other hand, Abdul Hussein Al-Anbaki, the economic advisor in the Presidency of the Council of Ministers, said that the privileges that the investor enjoys in Iraq, including the country's efforts to transform towards a market economy and impose customs tariffs to protect the local product, as well as the abundance of labor and the legislative base that protects investors and heads Funds at the level of investment law and the Iraqi constitution .

While Manuel Mora, representative of the State Secretariat for Trade, reviewed the trade balance between the two countries and the nature of exports and imports between them, noting the importance of diversification in products as well as the importance of legislating the investor protection law, while the Spanish ambassador in Baghdad, Hansi Escobar, confirmed that the situation in Iraq is heading towards complete stability, which is what He encourages investment work and that the government of Dr. Mustafa Al-Kazemi is moving forward towards achieving comprehensive reforms in the country. He thanked the Iraqi embassy in Madrid for its initiative and organizational effort to make the conference a success.

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