Baghdad (IraqiNews.com) – Iraqi Minister of Finance Faleh Sari emphasized on Monday the increasing interest of investors in the opportunities present in Iraq.
Sari’s remarks took place during his meeting with Princess Astrid of Liechtenstein, where the discussions focused on economic relations and opportunities for cooperation between Iraq and Liechtenstein, according to a statement released by the Iraqi Ministry of Finance.
Sari highlighted the importance of expanding communications with international partners to attract investments that support development and help diversify the Iraqi economy.
The finance minister stated that Iraq offers promising opportunities in different economic areas. He added that the next phase would involve leveraging foreign experience and finance to strengthen the productive and service sectors.
Princess Astrid expressed interest in the opportunities present in Iraq, emphasizing the importance of maintaining connections with key Iraqi organizations to identify areas for collaboration in the upcoming term.
The meeting follows Sari’s confirmation that the closure of the Strait of Hormuz has had a direct impact on his country’s economy, citing the relationship between trade, oil flows, and developments in the region.
The Iraqi Ministry of Finance is committed to tackling the current situation by increasing non-oil revenue, developing financial management tools, and advancing the reform process, according to Sari.
Sari indicated earlier that the Iraqi government is moving forward with the establishment of its first performance-based budget in history, which relies on a new approach to manage public expenditure.