Economic Expert Outlines Challenges Hindering Foreign Investment Boom in Iraq

Economic experts have highlighted key factors obstructing a significant leap in Iraq's foreign investment sector, despite promising opportunities extending beyond energy into housing, industry, and agriculture. Experts noted that the country's geographical location qualifies it to develop export-capable industrial and pharmaceutical sectors regionally. However, despite the presence of foundational investment attractions, many investors hesitate due to complex bureaucracy, widespread corruption, and recurring political tensions. It was emphasized that capital requires a stable environment and advanced banking infrastructure, which the local financial sector currently lacks. While some companies have successfully navigated these challenges, the persistence of administrative complexities necessitates the creation of transparent mechanisms to reassure investors. Assessments concluded by warning that over 90% of investments are concentrated in the energy sector, stressing the urgent need for investment diversification.