NIC Chairman invites Korean companies to enter the Iraqi market and participate in the investment process
Dr. Sami R. Al-Araji, invited all Korean companies to enter the Iraqi market through direct investment or investment partnership with both Iraqi private and public sector to participate in the investment process currently taking place in Iraq .
This was during heading a series of meetings between Iraqi private/public sectors and the Korean delegation visiting Iraq hosted by the National Investment Commission. The 15- businessmen delegation represents 8 major Korean and international companies in different fields. Meetings were intensives and fruitful and included discussing available investment opportunities in different sectors (power, oil and gas, industry, housing and transportation)
Dr. Al- Araji mentioned that the delegation represents well known Korean companies such as (Daewoo Engineering and Construction, Daewoo International for Investment and Trade, Samsung, Korean Petroleum National Company, GS, SK for Construction, SK for Power). He also emphasized that such partnership will not be established easily after a long time of cutout.
One of the important achievements fulfilled during this visit, is the direct meeting between the Korean delegation and the Iraqi private sector hoping that private sector invest this opportunity to establish investment and economic partnership in different sectors and utilize the Korean experience because big projects in Iraq needs economic knowledge and financial resources and both are available to the Korean side, he said.
Regarding inviting companies from other countries, Dr. Al-Araji said that NIC invited many international delegations to visit Iraq , and continuing to do so especially after announcing the 5-year plan approved recently. He also added that NIC is working on connecting the Iraqi private/public sector with foreign sector in all economic sectors.
The Korean side represented by the Korean Ambassador in Iraq who attended the meetings reflected the delegation satisfaction with the interest the Iraqi side showed. He also assured the Korean interest to enter the promising Iraqi market and create investment partnership with both Iraqi private and public sectors.
DGs from different ministries (Oil, Electricity, Housing and Reconstruction, Industry and Minerals) attended the meetings in addition to representatives from Baghdad Mayoralty.
Regards from the Media dept. in NIC