Iraq is Aiming to attract foreign investments of 600 Billion $

Iraq is Aiming to attract foreign investments of 600 Billion $

NIC Chairman, Dr. Sami Al- Araji :

Iraq is Aiming to attract foreign investments of 600 Billion $

NIC Chairman, Dr. Sami Al- Araji asserted that the government had laid a plan for economic development over the next five years through which it aims at attracting investment projects of total capital of 86 billion $ referring that the NIC goal is to exceed this number to 600 billion $.
He added in a press interview ” we strongly hope to be able to achieve this plan, nevertheless we would be very happy if we could achieve good part of it like over 50%, referring to the huge projects prepared by NIC to achieve the said goal like the project of the One Million Housing Unit of total capital of 50 billion $.
Al- Araji also revealed that the commission is studying raising the number of the targeted housing units in to Two Million Housing Units especially after the big interest the project had met by foreign companies as more than 132 foreign companies had submitted their applications whereas the commission is focusing on 35 one and will sign agreements with them by the end of the year.
Beside the housing project, Dr. Al- Araji referred that the commission is also focusing on attracting investments in important sectors like electricity, communication, transport and oil refining assuring that many investors especially from France, Turkey, US and UK had shown interest to invest in Iraq.