Iraq ranks fourth for foreign direct investment in 2024

In a recent report published by FDI Intelligence, Iraq has emerged as one of the top destinations for foreign direct investment (FDI) in 2024, securing the fourth position among ten countries assessed. The study, specializing in global investment activity, was reported by the state news agency (INA).

The ranking was determined based on various key indicators, including gross domestic product (GDP) growth, inflation rate, capital expenditure growth in FDI, and the expansion of FDI projects. According to the findings, Iraq exhibited a notable GDP growth of 2.9 percent, with the inflation rate rising to 3.6 percent. Capital expenditures in FDI saw a remarkable surge of 371 percent, accompanied by a 95 percent growth in FDI projects.

These statistics underscore the substantial improvements witnessed in Iraq’s investment climate, reflecting concerted efforts aimed at bolstering the nation’s economy and attracting greater foreign investment. Moreover, they highlight the strides taken by Iraqi authorities to create a conducive environment for international investors.

While Iraq’s ascent to the fourth position underscores its growing prominence as an investment hub in the region, the report also sheds light on other emerging markets with promising investment prospects for 2024. Among these, Cambodia is anticipated to exhibit the most favorable investment momentum in the year ahead.

The recognition of Iraq’s status as a favorable investment destination underscores the nation’s potential to become a key player in the global investment landscape. Furthermore, it underscores the importance of fostering an environment conducive to sustainable economic growth and attracting foreign capital.

As Iraq continues to position itself as an attractive investment destination, policymakers and stakeholders are likely to intensify efforts aimed at further enhancing the nation’s investment climate and leveraging its economic potential on the global stage. With sustained progress and strategic initiatives, Iraq aims to solidify its position as a beacon for foreign investment in the years to come.