FINANCIAL NEWS

Iraq needs investments of USD700b to rebuild infrastructure

29 Feb 2012

(MENAFN) Iraq’s National Investment Commission’s chairman, Sami Araji, said that the country would need up to USD700 billion in order to restore its infrastructure following years of sanctions and war, reported Gulf News.

Araji added that there are huge opportunities in Iraq’s infrastructure sector, which needs between USD500 billion and USD700 billion of investments over the coming 10 years.

He also said that although there were security considerations, however, Iraq’s security was improving.

It is worth noting that more stability would encourage foreign investment into Iraq’s both non-oil and oil economy, which is expected to provide tremendous wealth that will transform the country.

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