The head of the Popular Movement Against Corruption, Hussein al-Karawi, has criticized the investment and exemption policies of successive Iraqi governments, claiming that previous exemptions granted during the government of former Prime Minister Mohammed Shia al-Sudani resulted in significant financial losses for the country.
Speaking on Saturday, al-Karawi alleged that exemptions approved under the previous administration led to the loss of approximately $140 billion, and warned that policies being pursued by the current government of Prime Minister Ali al-Zaidi could follow a similar path.
According to al-Karawi, some of the current exemptions granted to foreign entities, particularly those involving the United States, raise concerns about their long-term impact on Iraq’s economy and public finances.
He called for Iraq to adopt a policy based on genuine competition among international companies, arguing that open competition would help secure better projects, improve transparency, and protect public funds.
Al-Karawi stressed the importance of evaluating investment opportunities based on Iraq’s economic interests rather than limiting cooperation to a small number of countries or companies.
He suggested that Iraq expand its partnerships with a wider range of international firms, including companies from China, Russia, South Korea, and various European countries, believing that broader competition could result in more favorable terms and higher-quality investment projects.
According to al-Karawi, diversifying economic and investment relationships would strengthen Iraq’s ability to make independent economic decisions and reduce reliance on any single foreign partner.
He argued that a balanced approach to international cooperation could help Iraq secure better offers, attract additional investment, and support long-term economic development.
The remarks come amid ongoing debates in Iraq regarding foreign investment, infrastructure projects, and the role of international companies in the country’s economic future. Supporters of broader competition argue that opening projects to a wider range of bidders can increase efficiency and reduce costs, while critics continue to raise concerns about transparency, oversight, and the management of public resources.
As discussions continue, economic diversification and investment policy remain key topics in Iraq’s efforts to strengthen growth, improve infrastructure, and reduce dependence on oil revenues. Iraq’s money
