Saudi Arabia has no problem investing in Iraq

A collaboration agreement was signed between Iraq and Saudi Arabia regarding private-sector industrial projects on Wednesday.

According to the Iraqi News Agency (INA), the president of the Iraq Fund for Development signed a collaboration agreement between Saudi Arabia and Iraq in industrial investments.

Abdulaziz Al-Shammari, the Saudi ambassador to Iraq, confirmed to INA that many opportunities are being explored.

According to Al-Shammari, the partnership agreement was signed due to an understanding between Saudi Arabia and Iraq.

In collaboration with the Iraq Fund for Development, Saudi Arabia's Public Investment Fund (PIF) is interested in investing in industrial, infrastructure, and real estate sectors.

According to Al-Shammari, $3 billion is now available at the PIF, and Iraq and Saudi Arabia have been coordinating investment opportunities.