Iraq’s PM discusses investment opportunities with Chinese delegation

Shafaq News / The media office of Prime Minister Mohammed Shia Al Sudani mentioned that he received, today, Thursday, Zhang Jieming, the Chairman of the Shangxin Company from China, along with his accompanying delegation.

The office stated that during the meeting, the Prime Minister highlighted Iraq's abundance in promising investment opportunities, available for all investors. He indicated that the government is committed to providing all necessary facilitations for major companies of various nationalities.

The statement further noted that the Shangxin Company, one of China's major corporations with diverse investments globally, is set to initiate a project to establish an advanced industrial city in Basra governorate for iron manufacturing and production utilizing sponge iron. Additionally, the company is in the process of contracting for a project aimed at investing in sulfur in Iraq, intending to export it abroad.

According to the statement, these projects align with the government's direction to invest in natural resources and mineral wealth throughout Iraq, reviving the industrial sector, which stands as a cornerstone in the economic reform packages prioritized within the government program.

It is noteworthy that yesterday, the Chinese Embassy advisor in Baghdad, Xu Haifeng, stated that Iraq represents the largest investment destination for China.

During a press conference held yesterday at the Chinese Embassy building in Baghdad, Haifeng mentioned that Iraq, rich in energy resources such as oil and gas, naturally attracts considerable Chinese investments, particularly in the energy sector, which corresponds to Iraq's industrial diversification.

He added that, given its current status, Iraq can attract increasing Chinese investments in new fields within the country.