NIC and IFC Discuss Iraq’s Economic Growth Plans

The National Investment Commission (NIC) held an expanded meeting on Monday, February 24th, with a delegation from the International Finance Corporation (IFC) to discuss strengthening collaboration in project financing, technical consultation, and investment promotion in Iraq.

Discussions focused on mechanisms to improve Iraq’s business environment, including support for feasibility studies, investment mapping, and capacity-building programmes for employees. The meeting also explored opportunities for workshops on clean energy projects, aligning with global sustainability trends and efforts to reduce carbon emissions.

Haider Hamada, Director General of the Relations and Media Department at NIC, emphasised the Commission’s commitment to enhancing transparency and investor confidence through promotional activities such as conferences and seminars. He noted that attracting capital is crucial for Iraq’s economic development.

The NIC highlighted its recent success in securing $63 billion in foreign direct investment (FDI) over the past year and a half, alongside $27 billion in local investments across various sectors. This inflow is expected to contribute significantly to sustainable development and job creation, further positioning Iraq as an attractive investment destination.

The meeting was attended by senior officials, including Dr. Mona Sabah Al-Jabri, NIC’s consultant for energy and environment, and the Director General of the Economic Department.