On Tuesday evening, Prime Minister Mohammed Shia Al-Sudani met with representatives from 24 major British companies across various sectors, as well as several businessmen, in the presence of British government officials. This meeting took place during his official visit to London.

At the beginning of the meeting, Al-Sudani welcomed the work of British companies in Iraq, emphasizing that the investment environment and business space are now open and attractive for various types of investment and development activities. He noted that the meetings and agreements signed with the British side need to be translated into actions and steps, with the most important part now resting on the companies.

Here are the key points from Al-Sudani's discussion with the British company representatives and businessmen:

Real reforms have been implemented in Iraq, with genuine support measures and facilities for the private sector.

 Reforms have been carried out in the tax and customs sectors, company registration, and all approvals related to investment opportunities.

 For the first time, sovereign guarantees have been provided to the private sector to implement projects, and today an agreement was signed with UKEF regarding this step.

 Our steps aim to create a national industrial base, and the presence of British companies with the private sector will create real opportunities.

 We have ensured reforms in the banking and financial sectors, with all financial transfers conducted through a direct transfer system via intermediary global banks, subject to auditing by specialized companies.

Iraq has a three-year budget (2023-2025), with $100 billion allocated to the investment budget for ministries and provinces.

 The relationship between Iraq and Britain has seen real projects worth $1.5 billion in 2024 in both the public and private sectors.

Britain is a strategic partner for Iraq, and we invite British companies to contribute to building Iraq and achieving the desired development.

The volume of Arab and foreign investments in Iraq has reached $63 billion over two years.

 We have a major project with Vodafone, and the company's delegation has reviewed the situation across Iraq.

 Work continues on the strategic development road project, and the Al-Faw port is an economic city that is the newest and largest in the Middle East.

There are associated gas projects in most fields and opportunities in the petrochemical industry.

 We have a fixed platform project for importing gas funded by the government, and there is a project for liquefied gas export platforms.

 There are significant opportunities in new residential cities, with investment licenses issued for one million new housing units.

 There is a great need for factories in the construction materials sector, with 30% of imports going to construction and building materials due to the construction boom.

Prime Minister's Media Office

January 15, 2025