The Iraqi Foundation for Foreign Policy held its inaugural event on 21st November 2024 at the Palace of Westminster, London, focusing on Iraq’s economic development and opportunities for collaboration between Iraq and the United Kingdom.
Mohammed al-Najjar, Advisor to the Iraqi Prime Minister on Investment Affairs and CEO of the Iraq Fund for Development, delivered the keynote speech. He highlighted the Fund’s success in attracting $1.5 billion in investments. These funds target infrastructure development, private sector growth, and human capital advancement—key pillars in Iraq’s transformation.
Discussions centred on Iraq’s shift from four decades of conflict to economic progress. Iraq’s youthful demographic, with 65% of the population under 25, positions the nation as a hub for human capital development. High-potential sectors identified include digital transformation, environmental sustainability, and infrastructure development.
While highlighting Iraq’s potential, participants acknowledged ongoing challenges such as bureaucratic inefficiencies, outdated regulatory systems, and perceptions of economic instability. Solutions proposed included:
- Streamlining foreign investment processes.
- Modernising legal frameworks.
- Engaging the Iraqi diaspora for expertise and support.
The event explored avenues for enhanced collaboration, with UK policymakers and stakeholders proposing an Anglo-Iraqi Fund. This initiative aims to align Iraq’s development objectives with international best practices, fostering stronger bilateral economic ties.
The event marked a significant step in advancing UK-Iraq relations, offering a strategic platform to explore mutual economic benefits and sustainable development.
- Published: 21st January, 2025
- Location: London
- Country: United Kingdom
- Editor: Yasmine Goumri
- Category: Economy
