Iraq is entering a transformative period of economic development, with rising investor confidence and a strong focus on economic diversification. The country is pushing forward with strategic investments, international partnerships, and expansions into sectors beyond oil.
Over the past three years, Iraq has enjoyed political stability and favorable oil prices, contributing to GDP growth of approximately 5% by 2025. Additionally, the Iraqi stock market has been performing exceptionally well, with some investors seeing gains exceeding 100%.
However, the growth momentum is not solely driven by oil and gas. Gulf nations, such as Saudi Arabia and Qatar, have injected around $3.5 billion into Iraq’s infrastructure and housing sectors. These investments signal increasing trust in Iraq’s improving business environment.
The Iraqi government has committed nearly $400 billion toward future development projects, including major initiatives like the Al Fawr Port and a $15 billion trade agreement with the UK. This deal focuses on critical sectors such as cybersecurity, telecom, and defense.
The momentum continued at the IBBC’s Baghdad conference in February, where over 350 delegates gathered to hear insights from Iraq’s top officials. Ministers of oil, communications, and foreign affairs shared plans for new growth areas, reinforcing optimism surrounding economic diversification and growth.
Iraq’s modernization efforts are also evident in education, real estate, tourism, and professional services. Tech firms, law offices, and training providers are entering the market, helping to develop a more skilled local workforce and ensuring long-term growth.
Global companies like Unihouse and Mselect are contributing to Iraq’s professional development, while agritech and marine firms such as AL Zaman Group and DPD bring fresh expertise. These sectors are reshaping Iraq’s economic landscape.
Looking ahead, the IBBC Spring Conference in London on June 3rd will highlight these emerging sectors. Iraqi and British leaders will discuss trade opportunities and investment strategies, with speakers including UK government officials and Iraqi ministers. UKEF will also explain how firms can access billions in UK trade guarantees.
The conference will feature panels on transport, education, entrepreneurship, and tourism. A tech forum on June 2nd will focus on the role of AI in sectors such as education and healthcare.
As global markets face uncertainty, Iraq stands out as a symbol of stability and progress. With smart policies and strategic investments, the country is firmly focused on economic diversification and growth.
