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13/02/2018 - 01:39hs

Investors to have guarantees, says Iraqi government

In its first day, the Kuwait International Conference for the Reconstruction of Iraq (KICRI), in Kuwait City, held a panel on the Role of Financing Institutions. Authorities underlined the country’s potential.

Kuwait City – On this Monday (12), in its first day, the Kuwait International Conference for the Reconstruction of Iraq (KICRI) held, in Kuwait City, two simultaneous events. One was the Non-Governmental Organizations (NGOs) Conference to Support the Humanitarian Situation in Iraq, organized by the International Islamic Charitable Organization, and the second, which ANBA attended, was the Iraq’s Reconstruction Program and the Role of Funding Institutions, organized by the Kuwait Fund for Arab Economic Development (Kuwait Fund).

Bruna Garcia/ANBA

Al-Hiti: Brazilian investments are welcome

Throughout the morning and afternoon, at the JW Marriott hotel, several authorities from Iraq’s government and supporting institutions, such as the World Bank, the Kuwait Fund and UN agencies, discussed the needs of the country in this post-war period, such as housing, energy, water, healthcare and security, and presented investment solutions.

The head of the Fund for the Reconstruction of the Areas Affected by Terrorist Operations in Iraq, Mustafa Al-Hiti, told ANBA that both Brazil and other countries that decide to invest in the reconstruction need guarantees and investment return.

“The current condition of the Iraqi market is attractive to investments in terms of the country’s potential. Iraq is a potentially rich country, it needs only an initial investment, but it’s a country rich in natural and human resources,” said Al-Hiti.

The government official said that Iraq has good relations with Brazil and that Brazilian investments will be welcomed. “We didn’t come here only to ask for money, we came to present a proposal to the international community. We are presenting a solid and reliable investment. This is a good moment in Iraq, in this post-Islamic State era, we have a window of opportunities to rebuild the country,” he concluded.

*The journalist travelled at the invitation of Kuwait’s government. Translated by Sérgio Kakitani

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