2024-02-13T10:16:22+00:00
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/ The investment graph in Iraq has recently risen to reach $300 billion thanks to new legal amendments aimed at expanding the roles of productive sectors according to the national development plan extending from 2024 to 2028 in order to reduce dependence on oil revenues to support the country’s general financial budget.
The investment law in Iraq offers some advantages, most notably the investor owning government properties as well as leasing the project lands for 50 years, with tax and customs exemptions and freedom to transfer funds in addition to the possibility of trading in the Iraqi Stock Exchange.
The housing sector is at the forefront of investment sectors in terms of demand due to the country’s need for more than four million housing units, which has prompted real estate developers to pump investments of nearly $100 billion, which increased last year by about 6% over 2022 with external contributions from regional and international companies.
Iraq seeks to involve the private sector in new investment experiences such as the electricity sector, which exceeds $80 billion, and the health sector, with investments approaching $20 billion, in addition to new investment opportunities for integrated cities on the outskirts of the capital that can attract hundreds of thousands of residents directly or through new economic activities.