The head of the Iraqi-French Business Council, Adham Al-Fakhar, confirmed on Friday that Iraq is moving towards creating a conducive environment for business and investment, noting that partnership and joint construction are fundamental to enhancing economic relations between the two countries and opening up new avenues for cooperation.
Al-Fakhar stated in a statement followed by the News Video Agency that the French delegation received a clear message from Iraq, expressing its welcome and high readiness to enter into partnerships and joint projects that contribute to building sustainable economic relations.
He explained that the recent economic forum focused on the health and pharmaceutical sectors, with the participation of 11 companies, noting that the upcoming phase will witness the organization of conferences and investment events covering other sectors.
He added that attracting foreign investments requires transforming Iraq into an attractive and exciting environment for investors, rather than just inviting them, pointing out that the French delegation sensed a governmental readiness for cooperation and providing the requirements for partnership.
He indicated that establishing businesses in Iraq faces challenges and difficulties, but there are efforts to grant exceptions and facilitations that could attract foreign companies, emphasizing the importance of treating foreign investors and suppliers as partners in the process of construction and development.
Al-Fakhar stressed the necessity for foreign investments to be accompanied by the development of Iraqi competencies and the growth of the local private sector, considering this a fundamental goal that cannot be compromised.
He confirmed the existence of a serious governmental and sectoral intent to create a suitable business environment, explaining that existing challenges do not prevent the creation of new investment pathways but require governmental support and bold measures to provide opportunities and enhance foreign companies' confidence in the Iraqi market.