Baghdad – IA – Hassan Al-Fawaz
Advisor to the Prime Minister for Investment/President of the Iraq Fund for Development, Muhammad al-Najjar, stressed today, Wednesday, the importance of the partnership agreement between Iraq and Saudi Arabia in the field of industrial investments for the private sector, while announcing Iraq’s intention to establish a foreign investment fund.
Al-Najjar told the (INA): “The Iraq Fund for Development signed today the partnership agreement between Iraq and Saudi Arabia in the field of industrial investments for the Iraqi and Saudi private sectors, as it is the first achievement of the Fund, which is sponsored by the investment acquisition of an Iraqi company in Saudi investments, which is the beginning of the path to developing this sector.” The platform and the entry of many Saudi and Iraqi investors with the Iraq Fund.”
Al-Najjar added, “We succeeded in breaking long years of cooperation attempts that resulted in many things for Iraqi-Saudi cooperation,” noting that “this step is the first and will be followed by many steps that will be announced, such as the presence of huge investment projects by the Kingdom of Saudi Arabia in Iraq, There will also be projects from Iraq in the Kingdom in the future.”
He continued, “We are now in the process of preparing investment companies that will enter Iraq and be interested in it, and it is in fact a company and it has the right to invest its profits inside and outside Iraq as well,” pointing out that “there is investment cooperation between the two countries that provides Iraq with the opportunity to establish a foreign investment fund as well.” The way the companies he creates to invest at home is a new principle that we are working on.”