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Iraq: Five-year development plan at a cost of USD357bn

The Iraqi investment committee announced the allocation of 357 billion dollars for the implementation of the development plan of a period of five years, as the Iraqi prime minister said that his country would like to benefit from the expertise of British universities through employment and investment opportunities available in all sectors , across an economic development program that Iraq is witnessing currently .


According to a press report , briefed by " Shafaq News " , the chairman of the investment committee , Sami Raouf al-Araji announced allocating amounts of money for investment spending within the five year development plan for 2013 - 2017 , amounted to 357 billion dollars , as 2014 will witness the allocation of up to $ 54 billion.

At the same level, Iraqi Prime Minister , Nuri al-Maliki stressed in his speech during Iraqi investment - British Business Forum held in Baghdad , on the importance of holding such a forum, which is an extension of the first conference , which talked about investment in London in 2009 that has emerged from the establishment of the Business Council and the Iraqi - British investment to be followed by other forums and meetings , whether inside or outside Iraq .


Maliki expressed in his remarks published by "Al-Hayat" newspaper , the Iraqi government's desire to benefit from the expertise of British universities that attended the conference , businessmen and British companies through business and investment opportunities available in all sectors .


On the sidelines of the forum, the representative of the parliamentary Economy and Investment Committee , Nora Al-Bajari has ruled out growing in the investment side of the country as a result of the continued volatility in the investment environment .


On the other hand, the Deputy Minister of Planning and Finance , Yusuf Ali al-Shukri defended his country's investment environment , saying that it was the best in Arab and international levels , but represent a failure in the marketing of that environment .


He said in remarks on the sidelines of the third Arab-African Summit held in Kuwait that Iraq is the focus of attention of the world, but lacks the marketing of such investment environment and business opportunities in the private sector in the correct form.

Deputy Prime Minister for Economic Affairs, Rose Nuri Shaways talked about a number of economic developments that have been achieved in the Iraqi arena, including the withdrawal of Iraq from Chapter VII of the Charter of the United Nations , the adoption of the Iraqi Five-year 2013 - 2017 development plan with the issuance of the law of economic reform and opening Baghdad exhibition in its new edition this year .

He stressed the urgent need for the Iraqi economy to diversity of sources of investment through the diversity of funding sources, most notably the local private sector.

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