Iraq has invited Pakistani industrialists to participate in its re-building by making investments and entering into business ventures as ground situation in the country is normal and investor friendly. "Business community needs to benefit from investment boom in Iraq," said Iraqi Ambassador, Dr Rushdi Al-Ani while talking to businessmen here on Monday.
Dr Rushdi Al-Ani said that the sectors which are open for investment include oil and gas, power, housing, transportation, telecommunication, railways, roads, ports, agriculture, education, pharma, surgical, auto parts, and tourism. He said that Iraq had formally invited five major Pakistan companies to invest in its promising oil sector and maintained that the country was changing to a market economy, with enormous natural resources and hydrocarbons, which can help Pakistan to come out from energy crisis. He apprised the businessmen that Baghdad is reforming its financial, legal and administrative infrastructure in order to integrate with the global economy.
He informed that a 30-member high-powered delegation headed by Minister for Works and Investment from Iraq is scheduled to visit Pakistan soon adding that during which MoUs would be signed with reputable firms. On the occasion, Vice President Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Mirza Abdul Rehman and Chairman Media FPCCI, Malik Sohail said that Pakistan would fully cooperate in realising Iraq's target under its five-year plan of attracting $85 billion in investment by 2014.