PM Al-Sudani calls on Spanish companies to invest in Iraq
Shafaq News/ On Thursday, Iraqi Prime Minister Mohammad Shia Al-Sudani urged Spanish companies to participate in investment projects across various sectors in Iraq.
The call came during a meeting with businessmen and representatives of Spanish companies in the presence of Spanish Prime Minister Pedro Sanchez.
According to Al-Sudani's media office, the prime minister highlighted Iraq's priority of cooperation with Spanish companies due to "their reputation and global experience, particularly in the railway and transportation sector."
He noted that Development Road projects and investment opportunities are now open and available, with ongoing discussions with international financial institutions for implementation.
During the meeting, Al-Sudani renewed his emphasis on railway connectivity projects, including the Najaf-Karbala line and the Baghdad Metro project, the latter of which is expected to be announced within a few months.
Al-Sudani also invited Spanish companies to participate in upcoming projects, such as rehabilitating Baghdad International Airport, establishing five residential cities, and developing ten new cities.
The Prime Minister underscored the government's support for the private sector by offering sovereign guarantees of up to 85% of the cost of any project implemented within Iraq in partnership with foreign companies. At the same time, the investor bears the remaining percentage.
