Iraq and $5 Billion Investment Pledge from Qatar

Iraq and $5 Billion Investment Pledge from Qatar

Kanako Mita and Sawako Utsumi

Modern Tokyo Times

The arrival of Emir Sheikh Tamim bin Hamad al-Thani of Qatar – who is visiting Iraq – followed a pledge of a $5 billion investment in Iraq.

Tensions in the region decreased after Saudi Arabia and Iran brokered an agreement in China. At the same time, tensions between Saudi Arabia and Qatar have subsided dramatically.

Reuters reports, “The emir arrived in Baghdad on an official visit that led to signing memorandums of understanding (MOUs) to expand cooperation on investment and energy projects.”

The National News reports, “The two countries signed various economic agreements on Thursday, Sheikh Tamim said during a press conference with Iraqi Prime Minister Mohammed Shia Al Sudani.”

Al Sudani said: “We discussed today the economic opportunities that are available to the Qatari companies within our plans for reconstruction, public services and infrastructure.” 

Other economic agreements were passed concerning electricity, energy, and other sectors.

Lee Jay Walker says, “If Gulf Powers focus on economic initiatives instead of regional intrigues – for example, Syria and Yemen – then instead of failed states and mass immigration, the region would have a bright future.”

The interconnection project of the Gulf power grid was also discussed in earnest. This pertains to the Southern Iraq network system to boost economic output.

Sheikh Tamim said: the state of Qatar intends to continue looking for investment opportunities that are available to boost economic cooperation between the two countries.”

Gulf powers – concerned by past economic corruption and political cronyism are intent on commercial investments that bring rewards to all parties.

Direct financial aid was often abused in the past.

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