PM: Iraq Is Keen On US Companies' Presence, And We Are Ready To Announce The Sixth Round Of Gas Fields
Baghdad / NINA /- Prime Minister Muhammad Al-Sudani affirmed that Iraq is keen on the presence of American companies.
"Iraq is qualified to be an attractive environment for the private sector and foreign companies," Al-Sudani said, while receiving a delegation from the Iraqi-American Business Council headed by the Council's president, Vice President of the American Chamber of Commerce for Middle East Affairs Steve Lotus, stressing that "the government has taken a series of decisions to simplify procedures for investors, and work addressing problems in this area."
He pointed out: "Iraq enjoys security, political and social stability, and it is qualified today more than ever to be an attractive environment for investment and foreign companies."
He explained that: "Iraq has a real chance of success, and there is no alternative to peaceful coexistence and support for the state and its institutions."
The Prime Minister stressed: "The Iraqi experience does not exist in the region at the level of local and parliamentary electoral representation, which indicates the vitality of the democratic system," noting: "The government is aware of the size of the heavy legacy that began since the eighties war and caused negative effects in most sectors, that is why it has set five priorities in its program that it is working to achieve."
He continued, "Iraq cannot remain dependent on oil, as the world is heading today for oil alternatives that will be ready after 2028, and the countries of the world are spending billions of dollars for oil alternatives, especially after the war in Ukraine, and oil-dependent countries must prepare for alternatives."
Al-Sudani explained: "Iraq possesses natural resources that have not been invested, and it is qualified to be an agricultural and industrial country due to its strategic location. The private sector is our real partner to achieve our vision, reduce time and find solutions to problems."
Regarding gas investment, Al-Sudani said: "We started investing in the gas sector, which costs us $4 billion annually," indicating: "The Total agreement is one of the most important gas investment agreements and the development of oil fields, which will provide half of our gas needs."
He pointed out: "There are contracts with Chinese and Emirati companies that will provide us with half of the gas we import, and we are preparing to announce the sixth round of gas fields, which is happening for the first time in Iraq, in terms of investing in natural gas," stressing: "Investing in these projects will provide us with significant financial revenues that would be employed in various sectors, and we avoid the climate effects resulting from gas flaring.
He stressed: "Iraq is keen on the presence of American companies," noting: "The Ministerial Council for the Economy includes representatives from the private sector who participate with the government in formulating decisions and procedures that would facilitate the work of investors in Iraq."/ End
