Baghdad: The Iraqi national economy is experiencing a significant growth phase, marked by improved economic indicators and a surge in production and investment. Iraq has become an attractive destination for foreign capital, with major international companies expanding their presence and operations in the local market, leveraging growth opportunities and supportive economic reforms.
According to National Iraqi News Agency, this development comes amid increasing openness to international partnerships, demonstrating growing confidence in the Iraqi economy's capacity to absorb foreign investments and promote comprehensive growth. MP Mona Al-Gharabi highlighted that Iraq's recent stability has encouraged international companies to enter the market to develop infrastructure in key sectors such as electricity, water, sanitation, and oil.
Al-Gharabi stated that Iraq's push towards economic cooperation projects and the enhancement of investment efforts has led major companies to look forward to Iraq's improving investment climate. This includes strengthening legislation and economic regulations designed to attract foreign companies. The Iraq Development Fund prioritizes areas such as education, agriculture, housing, digital transformation, manufacturing and food security, and the environment, aiming to support investment opportunities and enhance the role of the private sector.
Sardar Al-Bibani, Head of Toyota Iraq, emphasized the need for more flexible legislation and precise import regulations to support local manufacturing. He expressed Toyota's ambition to become a major producer within Iraq, calling for government cooperation to achieve this goal. Toyota's environmentally friendly and fuel-efficient vehicles comply with Iraqi standards, with extensive dealership and service networks across the country.
In contrast, Junsuke Yamatoya, Chief Operating Officer, noted that global companies, including Toyota Iraq, are focusing on hybrid vehicles due to the lack of charging stations in Iraq. Hybrid vehicles offer a practical solution for the Iraqi climate, providing fuel efficiency and enhanced safety features.
Khalid al-Jabri, head of the Usul Development Organization, underscored the need for more foreign companies in Iraq, citing the 27 million job opportunities available and the future influx of young workers. He emphasized the importance of reputable international companies in fields like digital technology, pharmaceuticals, medical and health industries, and renewable energy to elevate the local workforce to international standards.
In a strategic move, SAS Trading and Vehicle Services Company Limited, licensed by Toyota Iraq, launched the new 2026 Toyota RAV4 across various Iraqi cities, coinciding with its regional launch. This initiative aims to strengthen the model's market presence and showcase its technical and design advantages, reflecting Toyota's commitment to innovation and sustainability.