According to Mohammed Al-Najjar, head of the Iraq Development Fund and advisor to the Prime Minister for Investment, the Iraqi government has attracted investments worth $100 billion successfully over the past two years.
According to what he told the state-run dinaropinions.com, an agreement worth $5 billion was recently signed with Egypt’s Elsewedy Electric to set up three industrial cities across Iraq with the goal of improving educational and industrial infrastructure.
A joint investment fund with Elsewedy Electric’s commitment to construct a brand-new industrial and economic city with the intention of attracting both domestic and international investors is included in the agreement. Central and southern Iraq are being considered as potential locations for this economic hub, which would benefit nearby regions by creating jobs and diversifying the economy.
