Page 5 - investment-map-En-2021

relations in a way that facilitates the process of integration in the international economic
system. This is part of our new economic philosophy which contributed positively to
achieving significant growth in many economic indicators, That the Iraqi economy will
be among the most developed economies in the world in the coming years.
Iraq has achieved a number of positive economic developments over the past years
despite the economic challenges, including the global decline in oil prices, the cost of war
on terrorist organizations, law inforcment, reconstruction and returning the displaced
people to their cities, the Iraqi government succeeded in developing an efficient policy to
control inflation and control government spending and structuring The government banks
to keep abreast of developments in the banking business in the world, as well as Iraq
completed a set of policies of standby arrangements with the International Monetary
Fund and the signing of several international conventions.
It is well known that Iraq has considerable human and material resources to achieve
development in Iraq, as well as the availability of many investment opportunities
distributed across different sectors with different investment patterns, most notably direct
investment or investment partnerships with state-owned public companies.

This diversity in the economy comes from the strategic tracks and policies developed to
improve the private sector within the directions of the National Development Plan
2018-2022, including:

• Promoting an economic approach based on a leading role for the private sector in all
economic and social activities.
• Raising competitiveness of the private sector and improving its productive and export
efficiency
• Increase demand and expand the local market in order to absorb domestic production
and allocate part of it for export purposes.
• Creating a stable macroeconomic environment that promotes growth.
• Reform of the tax and customs system to simplify procedures and improve the
investment environment.
• Establishment of industrial and investment free zones and economic cities.
• Develop incentives to attract foreign capital.
• Identify and distribute roles between the private sector and the public sector in order to
ensure a gradual transition to a market economy.
• Develop an investment policy that makes the infrastructure sector and basic services
priorities of its strategic objectives (electricity, water, roads and bridges ...), which
supports the effectiveness of private investment and promotes the entry of foreign
investment to Iraq.
• Develop a supportive financial policy from specialized banks (industrial, agricultural,
real estate) and other governmental financial institutions for the purpose of supporting
the principle of competition.