#IraqProgress Iraq to build factories for Mercedes and Maschinenfabrik Augsburg-Nürnberg AG Companies
Mohammed Sahib al-Daraji, advisor to the Prime Minister, confirmed Iraq is establishing Mercedes and MAN factories. Keep reading to see how much Saudi Arabia contributed to this deal.
As part of a delegation to Saudi Arabia, Al-Daraji said, "Our visit includes several goals, including visiting the factories of MAN and Mercedes companies, since an international Saudi company has signed a memorandum of understanding with the Iraqi Military Industrialization Commission to build factories for MAN and Mercedes."
Several investment opportunities in residential, agricultural, and industrial sectors were discussed with the Saudi public and private sectors. In addition to establishing the Iraqi-Saudi Investment Company, the Saudi Investment Protection Law was approved, and the Saudi side allocated three billion US dollars to invest in Iraq.
