Shafaq News/ Jordan announced on Tuesday that Iraqi investments in the country had reached approximately $32 billion, contributing to economic development across various sectors. However, Iraq acknowledged challenges related to the limited capacity of the government sector to employ additional workers.
Kholoud Al-Saqqaf, Jordan's Minister of Investment, highlighted the significant Iraqi investments during her participation in the Jordanian-Iraqi Business and Finance Forum. These investments have been distributed across the real estate, finance, industry, and tourism sectors.
Minister Al-Saqqaf also emphasized that the new Jordanian investment environment law ensures equal rights and responsibilities for local and foreign investors. Once the requirements are met, investor transactions and requests are processed within a maximum of 15 working days, starting from the date of application submission.
Hamdi Al-Tabbaa, the president of the Federation of Arab Businessmen, called upon the Jordanian-Iraqi business community to capitalize on both countries' capabilities and competitive advantages. He specifically mentioned sectors such as construction and contracting, tourism, finance, electrical interconnection projects, and the Basra-Aqaba oil pipeline as areas of mutual benefit.
Al-Tabbaa stressed the importance of addressing existing challenges and obstacles between the two countries, including customs and non-custom cooperation. He emphasized the need to enhance bilateral negotiations, particularly regarding the timely implementation of the electrical interconnection project.
The project is scheduled to commence operations in early August, starting with a capacity of 150 megawatts in the first phase and expanding to 500 megawatts and 900 megawatts in subsequent phases.
Azhar Al-Rubaie, the representative of the Iraqi Minister of Planning, announced that Iraq would conduct a new population survey in October as part of a government plan aimed at establishing development standards. She also mentioned laws supporting and encouraging young people to work in the private sector.
Al-Rubaie stressed that Iraq offers favorable investment conditions and urged investors and businessmen to seize the opportunities available within the country.
