Chairman of the National Investment Commission Signs Investment Protection Agreement Between Iraq and Saudi Arabia

The Chairman of the National Investment Commission, Dr. Haider Mohammed Makiya, announced the signing of the final draft of the Investment Protection and Promotion Agreement between Iraq and the Kingdom of Saudi Arabia on Sunday, November 24, 2024. The agreement aims to create a secure and attractive investment environment for Saudi investors in Iraq.

Speaking at the 28th World Investment Conference held in Riyadh from November 25-27, Dr. Makiya emphasized that the Iraqi government is committed to encouraging Saudi investors to enter the Iraqi market. This is being achieved by enacting laws and providing legal guarantees to protect their investments from potential risks, while simultaneously helping them capitalize on diverse investment opportunities across various sectors in Iraq.

He highlighted the importance of the conference, which has been organized by the World Association of Investment Promotion Agencies (WAIPA) since 1995. The event serves as a global platform for dialogue, bringing together leaders and major investors from around the world to discuss global investment trends and opportunities, stimulate investments, and foster collaboration. The conference also showcased Saudi Arabia’s ambitious economic growth and international investment cooperation efforts.

During the ministerial roundtable, Dr. Makiya joined investment ministers from various countries to discuss sustainable investment partnerships, focusing on renewable energy projects such as green hydrogen and innovative engineering solutions for energy projects globally.