Iraq Courts Investors with $100 Billion Pledge Amid Growing Stability

Iraq Courts Investors with $100 Billion Pledge Amid Growing Stability
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Iraq is positioning itself as a regional investment hub, attracting over $100 billion in commitments since early 2023, with approximately $64 billion from foreign investors and $38.6 billion from domestic firms, The National reported. Haider Makiya, head of Iraq’s National Investment Commission (NIC), described the country as “fertile ground” for investment, noting plans to introduce an additional $100 billion in projects within two years.

Iraq is currently developing major infrastructure, including residential complexes, roads, ports, and energy facilities. The NIC has introduced administrative reforms such as faster visa processing and submitted amendments to investment laws to parliament. However, bureaucratic delays persist in licensing.

To enhance legal frameworks, Iraq signed the Singapore Convention in 2023, enabling easier enforcement of mediated international settlements—a move aimed at boosting investor confidence. Key sectors attracting investment include energy, housing, agriculture, and industry. Major deals have been signed with BP, TotalEnergies, and Chinese and Iraqi firms, including a multibillion-dollar integrated energy project in Basra.

Around 660,000 housing units are under development, though the country needs at least three million. Iraq is also advancing the $17 billion “Development Road” project, connecting Basra to Turkey and Europe, with backing from Turkey, Qatar, and the UAE. An international investment conference is scheduled in Baghdad on September 27–28, offering over 100 new opportunities.