The Iraqi Prime Minister, Muhammad Shia' Al-Sudani, confirmed on Thursday that Spanish companies represent a priority in cooperation due to their reputation and expertise. The Prime Minister's media office stated that "the Prime Minister met with several businessmen and representatives of specialized Spanish companies, along with Iraqi businessmen, in the presence of Spanish Prime Minister Pedro Sánchez, and representatives from Spanish companies such as Andra, the Conso Trans Group, Navantia, Cobasa, Aquib Ceramics, Novartis, Thomas Yavdor Engineering, and Scribano Mechanical Engineering."
The statement continued that the Prime Minister expressed gratitude to those present who accompanied the official visit of the Spanish Prime Minister to Baghdad, appreciating "the desire of specialized Spanish companies in various economic fields to participate in development plans and the reconstruction of infrastructure in Iraq." Al-Sudani pointed out that "Spanish companies represent a priority in cooperation due to their reputation and expertise, particularly in the railway and transport sectors globally." He indicated that "the projects of the Development Road and the accompanying investment opportunities are now open and available, and are in the design phase and discussion with international financial institutions for implementation."
The Prime Minister reiterated, in conversations with company representatives and businessmen, that "projects for railway connections, such as the Najaf-Karbala line, and the Baghdad Metro project, will be announced in a few months, and he looks forward to these being the foundation of extended cooperation between Iraq and Spain." He highlighted projects such as the rehabilitation of Baghdad International Airport, the five residential cities, and ten new cities, which will be announced soon, confirming that "Spanish companies are invited to participate in these opportunities, especially with the creation of an investment environment and facilitation for foreign companies, and partnership opportunities with the Iraqi private sector."
During the meeting, Al-Sudani referred to "opportunities in the industrial sector," emphasizing that "the government has supported the private sector by providing sovereign guarantees of up to 85% of the costs of any project implemented in Iraq in partnership with foreign companies, while the investor bears the remaining percentage." The Prime Minister concluded by mentioning "the government's efforts in developing the energy sector and renewable energy, which are ongoing in improving and increasing production to establish solid infrastructure for business prosperity," confirming that "there is a trend towards adopting solar energy, and we have established important foundations to improve the investment environment, supported by a package of commercial and economic laws and matters related to double taxation." He called on "Spanish companies to secure places in free zones, ensuring the global standards for financial, banking, and other services sectors."
