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FINANCIAL NEWS
Iraq to invest up to USD75b in infrastructure by 2017
22 Sep 2012
(MENAFN) Iraq plans to invest between USD250 to USD275 billion in infrastructure projects and other investments over the next five years, Reuters reported.
The Minister of Planning Ali Al Shukri said that allocating these huge sums will give a big boost in pushing the development pace forward. The investment plan will run from 2013 to 2017, his office said in a statement.
Shukri invited foreign companies to invest in Iraq’s housing, tourism, agriculture, industry and higher education sectors.
Although sectarian violence has cooled, economic development in Iraq was still slow as
Al-Qaeda militants and other insurgent groups are still active, which make security costs a large burden for foreign investors.
Bureaucracy and red tape is another issue that stands in the face of investors. Government infighting has delayed projects in areas such as electricity and telecommunications.
However, the market is potentially lucrative for foreign investors.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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