Iraq seeks investment from Emirates International

11 February 2009

Baghdad says it is in talks with Emirates International Investment Company (EIIC) over potential investment in the Iraqi real estate sector by the UAE group.

Officials from Baghdad have discussed the Abu Dhabi-based group’s possible investment in a range of sectors, including real estate, industry and oil and gas.

Government representatives from Iraq have been visiting the UAE in an attempt to entice new foreign investment to the country.

In particular, Iraq is seeking investment for the Al-Husainiya province and the city of Karbala, including assistance with the construction of two new airports in the region - one 20 kilometres north of Karbala city, for which land has been allocated, and a new $250m airport to be built between Karbala and Najaf, serving the two holy cities.

EIIC was unavailable for comment.

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