Iraq's economic reforms attract Egyptian construction firms
Baghdad (IraqiNews.com) – The Prime Minister's Advisor for Financial Affairs, Mazhar Saleh, said on Tuesday that Iraq's stability and economic reforms have attracted Egyptian construction firms to engage in major projects in the country.
Saleh told Shafaq News that Egypt is a leading country in the construction sector, and its architectural firms have had massive achievements with domestic development projects, which has led them to grow regionally.
The Iraqi government's ambition for comprehensive economic reforms has helped to create a favorable investment climate for international businesses, attracting Egyptian corporations to engage in Iraqi development and reconstruction projects.
The Iraqi official highlighted that global and Arab investors, including Egyptian firms, have discovered potential prospects to contribute to significant projects in Iraq as a result of the country's political and economic stability.
Furthermore, Iraq and Egypt have longstanding and solid historical ties, which have contributed significantly to the development of their economic partnership, according to Saleh.
In January, Iraqi Prime Minister Mohammed Shia Al-Sudani and his Egyptian counterpart, Mostafa Madbouly, attended a ceremony where several memoranda of understanding between the two countries were signed.
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