Iraq investments expected to hit over US$44 billion
According to <i>Alriyad</i> newspaper, some 65 Saudi companies announced their intention to participate in the upcoming International Exhibition for the Reconstruction of Iraq that is organized by Alriyad Exhibition Company with the cooperation of Jordan Expo Company. The exhibition will be held in Amman on April 8 and expected to lure 850 exhibitors form 42 countries.
Mr. Riyad Alhuseini, the vice president of Alriyad Exhibition Company, said that Jordan was chosen to host such an event due to its proximity to Iraq and the large Iraqi community there.
He stated that the Saudi participation is the most notable one as at least 65 Saudi companies had already confirmed their participation. Alhuseini mentioned that the direct investments in Iraq is more than SR800 million and the indirect investments surpassed the SR4 billion mark.
Mr. Alhuseini added that initial estimates indicate that the expected investments in Iraq will exceed US$44 billion during the next few years, especially in the fields of infrastructure, oil and IT projects.