Iraq, Saudi Arabia discuss opening industrial investment zones in Iraq

Baghdad (IraqiNews.com) – The National Investment Commission (NIC) of Iraq recently took part in discussions with the Ministry of Industry and Minerals of Saudi Arabia over the creation of industrial investment zones in five provinces in Iraq.

The importance of advancing investment in strategic and manufacturing industries, pharmaceutical industries, steel, fertilizers, and sulfur, as well as making use of bilateral memorandums of understanding between the Republic of Iraq and the Kingdom of Saudi Arabia, were highlighted during the meeting, which was chaired by Ahmed Al-Karim, Saudi Arabia’s Undersecretary of the Ministry of Industry for Planning Affairs.

The NIC’s crucial role in pushing for the completion of investment opportunities, maps, and economic feasibility studies for projects offered by sectoral authorities to firms, as well as presenting projects that address Iraqi needs, was highlighted during the meeting.

According to the NIC, the Saudi ministry identified significant investment prospects that form a component of its plan to localize businesses in Iraq, particularly the pharmaceutical sectors.

The meeting also covered a review of the industrial cities projects spread across the governorates of Baghdad, Nineveh, Wasit, Maysan, and Anbar.