Jakarta:First paragraph of the news story.

According to National Iraqi News Agency, Mohammed Shiaa Al-Sudani, head of the Reconstruction and Development Coalition, emphasized the importance of investment in achieving economic sovereignty. He stated that investment is crucial for reducing reliance on oil, generating employment, and promoting technology transfer.

Al-Sudani’s remarks came during a meeting with Adel Al-Yasiri, head of the National Investment Authority. They discussed the current state of investment in Iraq and strategies to enhance a conducive investment environment. The meeting also addressed overcoming challenges faced by local and foreign investors and tracking progress on major strategic projects.

Al-Sudani noted Iraq’s advancements in reforming the investment landscape, citing initiatives like the single window system, state guarantees, and amendments to the investment law. He urged the Authority to align with these reforms by resolving issues related to new residential cities and industrial projects, particularly in pharmaceuticals, renewable energy, and Greater Baghdad projects.

Adel Al-Yasiri outlined the Authority’s future plans, detailing the investment volume and ongoing projects. He reiterated the Authority’s dedication to prioritizing serious investors and well-evaluated opportunities. Both parties agreed to back projects that offer direct benefits to citizens, especially in the housing, industry, agriculture, and energy sectors.