IRAQ'S AL-MUTHANNA STATE OFFERS INVESTMENT OPPORTUNITY

KUALA LUMPUR, April 28 (Bernama) -- Al-Muthanna, a state located in the southern part of Iraq bordering Saudi Arabia and Kuwait, is offering vast potential for Malaysian companies to invest in its various sectors, particularly in construction.

As Iraq has passed the disturbance period, opportunities for foreign
investments in the country has opened widely, said Al-Muthanna Investment
Commission chairman Adil Dakhil Mohammed.

"We want to call upon Malaysian investors to invest in Iraq and our state,"
he told reporters during a roundtable session with the media organised by
the Malaysia External Trade Development Corporation (Matrade) here, Tuesday.

In the construction sector, the state would likely need about 30,000 units
of houses in the next five years and is looking for mixed development in the
state.

The state of Al-Muthanna, which covers 12 percent of Iraq, has abundance of
natural resources for building materials as well as plenty of land to be
developed, Adil said.

"There will be tax exemption in terms of building materials for foreign
companies as well as land availability for them."

The state investment arm would also extend help to those keen to invest in
other states in Iraq, he added.

However, companies interested in the oil & gas sector, should approach the
federal government directly as it holds exclusive rights for the sector, he
said.

Since August 2008, the state's investment commission has registered some 30
foreign companies and to date, has approved 16 certificates of investment.

Currently, there are about US$3 billion worth of projects being carried out
in the state, Adil said.

The capital of Al-Muthanna is Samawah and the state has a population of
650,000 people and is actively developing its economy in the areas of tourism,
oil & gas, agriculture, industries and construction.
-- BERNAMA