Shafaq News – Baghdad

On Saturday, Prime Minister Mohammed Shia al-Sudani revealed $450B in investment opportunities, pledging to diversify Iraq’s economy and draw in global partners.

Speaking at the Iraq Investment Forum in Baghdad, al-Sudani said projects worth more than $100B were already underway across housing, steel, fertilizers and pharmaceuticals. He also promised a dedicated conference to showcase opportunities tied to the flagship Development Road project.

"54 factories are now exporting to regional and global markets, and work is advancing on more than one million housing units across 60 planned cities nationwide," he added.

National Investment Authority Head Haider Makkiyah told the forum that $102B in projects approved over the past two years had created nearly one million jobs, with new priorities in renewable energy, waste management and capturing flared gas.

Jordan’s Energy Minister Saleh Kharabsheh, also present, said Amman was boosting electricity exports to western Iraq through a new cross-border grid, part of a wider regional push toward renewable energy and power trading.

Despite $80B spent on infrastructure since 2003, Iraq continues to face chronic power shortages and relies heavily on Iranian gas.