Iraqi PM commends partnership between Iraqi and Saudi private sectors
The Iraqi Prime Minister, Mohammed Shia Al-Sudani, the Saudi ambassador to Iraq, Abdulaziz Al-Shammari, the CEO of the Iraq Fund for Development, Muhammad Al-Najjar, and representatives of Iraqi and Saudi companies. Photo: PMO
Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, commended the activation of the partnership between the Iraqi and Saudi private sectors in the cement industry.
The Prime Minister’s remarks took place during his meeting on Thursday with the Saudi ambassador to Iraq, Abdulaziz Al-Shammari, the CEO of the Iraq Fund for Development, Muhammad Al-Najjar, and representatives of the Iraqi and Saudi companies, according to a statement cited by the Iraqi News Agency (INA).
Al-Sudani noted that this partnership paves the way for broader partnerships between businessmen and companies in the two countries.
The Iraqi Prime Minister commended the partnership agreement signed between the Iraqi company Diyar and the Saudi Northern Region Cement Company.
The Iraq Fund for Development directly sponsored the collaboration agreement between the two companies on Wednesday.
Al-Sudani indicated that this partnership encourages the private sector in both countries to create more job opportunities, assist sustainable development, and enhance the interconnection between the Iraqi economy and the economies of neighboring countries.
The Saudi ambassador to Iraq, Abdulaziz Al-Shammari, told INA that Saudi Arabia, through the Public Investment Fund (PIF), is interested in investment opportunities in the industrial, infrastructure, and real estate sectors, in collaboration with the Iraq Fund for Development.
With one trillion dinars (approximately $764.3 million) annually allocated to the Iraq Fund for Development, it plays an important role in diversifying the Iraqi economy, introducing the latest technologies, and using administrative expertise.
Al-Najjar said in October that the Iraq Fund for Development will focus on activating the role of the private sector in strategic and development projects, which was not previously happening.