Iraqi PM urges Egyptian and Saudi investment in tourism and housing

Shafaq News/ Iraqi Prime Minister Mohammed Shia Al-Sudani appealed on Saturday to Egyptian and Saudi Arabian companies to invest in tourism resorts, hotels, and entertainment facilities, underscoring Iraq's diverse array of tourist destinations.

According to a statement from Al-Sudani's media office, the Prime Minister hosted a delegation comprising Egyptian and Saudi businessmen, alongside Iraqi entrepreneurs specializing in real estate development and the creation of integrated smart residential cities. The meeting was attended by the Saudi Ambassador to Iraq, Abdulaziz bin Khalid Al-Shammari.

Al-Sudani highlighted that "Iraq is currently witnessing rapid growth and a phase of recovery, presenting numerous promising investment opportunities, particularly in the housing sector and new city initiatives." He emphasized the urgent need for approximately 3 million housing units and affirmed the government's commitment to developing comprehensive cities that integrate all sectors, services, entertainment, and commercial facilities, bolstered by an advanced transportation network connecting these developments to Baghdad.

The Prime Minister pointed out that the government has proposed investment projects for five of the planned 11 new cities in Baghdad and several governorates, stressing the critical role these modern urban centers would play in addressing the country's housing crisis, particularly for low-income groups.