Iraq is considering inviting investors to set up plants to produce building materials needed for its new mega residential cities, its Prime Minister has said.

The official media reported that Mohammed Al-Sudani, who met hundreds of Dutch investors in Rotterdam on Thursday, said the government has approved a new law offering guarantees of up to 85 percent to projects undertaken by foreign investors.

“We need your investments in Iraq...we need to build several plants that will produce our needs of building materials for the new residential cities and other housing laws also permit 100 percent ownership for foreign investors,” Sudani said, according to the Iraqi News Agency.

(Writing by Nadim Kawach; Editing by Anoop Menon)


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