Baghdad: Prime Minister Mohammed Shia al-Sudani emphasized that Iraq is currently experiencing political, security, social, and economic stability, alongside an unprecedented development renaissance. He pointed out that the country boasts a skilled workforce and promising competencies across various fields.

According to National Iraqi News Agency, during a meeting with a delegation from the American Chamber of Commerce, al-Sudani described Iraq as a “virgin land for investment opportunities in all sectors.” He acknowledged that the country’s development had been hampered by the war of the 1980s, the blockade of the 1990s, and the war on terror over the past two decades.

Al-Sudani further explained that the government has been actively working to improve the business environment by reforming laws to facilitate company registration and operations in Iraq. He highlighted that Iraq’s investment law offers numerous advantages to investors and mentioned that the government is preparing a package of laws aimed at encouraging foreign investment. He also noted that while Iraq’s trade balance does not have a deficit, there is a need to address the imbalance in the economic structure and reduce reliance on oil.