PM Al-Sudani encourages British firms to seize investment opportunities in Iraq
Shafaq News/ Iraqi Prime Minister Mohammed Shia Al-Sudani urged British companies to capitalize on Iraq’s expanding investment opportunities and development projects during a meeting with representatives of 24 major British firms and business leaders in London.
The gathering, attended by British government officials, was held on the sidelines of Al-Sudani’s official visit to the UK capital.
On the UK-Iraq ties, Al-Sudani highlighted the UK’s role as a strategic partner in Iraq’s reconstruction and development efforts, inviting British companies to actively engage in the country’s growth trajectory.
Al-Sudani also pointed to successful collaborations with UK-based firms, including Vodafone, which has explored Iraq’s telecom landscape.
“Iraq’s investment climate and business environment are now open and attractive to a wide range of opportunities,” Al-Sudani said, stressing the importance of translating agreements with British stakeholders into actionable projects.
Regarding the reforms and facilitations, the Prime Minister pointed out that Iraq has introduced significant reforms in taxation, customs, and company registration processes to ease investment procedures. “For the first time, we have provided sovereign guarantees to the private sector to execute projects, and today, we signed an agreement with UKEF as part of this initiative.”
The three-year budget (2023–2025) allocates $100 billion for investments according to Al-Sudani, with projects worth $1.5 billion involving British entities implemented in 2024 alone.
In addition, he said that investment opportunities abound in associated gas projects across oil fields, petrochemical industries, and liquefied natural gas export platforms. The Al-Faw Port project is set to become “the most advanced and largest economic city in the Middle East.”
The Prime Minister underscored Iraq’s progress in modernizing its financial systems, with international auditing mechanisms now overseeing transactions. He stressed the government’s commitment to fostering a robust industrial base and creating sustainable economic opportunities.
