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| 23 May, 2016

Arab investors urged to forge partnerships to 'rebuild Iraq'

Arab countries encouraged to engage in rebuilding Iraq.

A man works at a construction site in Iraq's northern province of Arbil September 25, 2010. REUTERS/Azad Lashkari

A man works at a construction site in Iraq's northern province of Arbil September 25, 2010. REUTERS/Azad Lashkari

REUTERS/Azad Lashkari
23 May 2016
AMMAN -- Arab countries were encouraged on Sunday to engage in infrastructure and construction projects worth approximately $22 billion designed to rebuild Iraq.

The call was made by Chairman of the Federation of Arab Contractors Fahd Al Hammadi at a conference held in Amman, with the participation of several Arab and foreign countries on available investment opportunities in Iraq and plans to rebuild the country.

"Currently, there are opportunities for investing in projects worth around $22 billion in Iraq in infrastructure and many other fields. Arabs need to do more to engage in the process of rebuilding Iraq," Hammadi said at the event, which was attended by hundreds of businesspeople from the Arab world.

"This event provides a great platform for building partnerships and exchanging ideas," said Hammadi, stressing that need for financing institutions and banks in the Arab world to effectively partake in the process of rebuilding Iraq through extending necessary finance for several projects.

Stressing on the key role Jordan can play in the rebuilding of Iraq, Safia Al Souhail, Iraq's ambassador to Jordan, called on businesspeople to forge partnerships to effectively contribute to the rebuilding of her country.

"Rebuilding Iraq is a key tool to fight terrorism," said the ambassador. 

"Iraq has given a lot to all, now it looks for your support to be rebuilt. We need Arab and international community's support," said the Iraqi diplomat.

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Minister of Housing and Public Works Sami Halaseh said the conference is an opportunity for businesspeople to boost cooperation and explore current and future investment opportunities in Iraq.

The minister stressed on the role Jordan can play in the construction sector in Iraq.

© Jordan Times 2016