ERBIL, Kurdistan Region - Iraqi Prime Minister Mohammed Shia’ al-Sudani on Monday discussed prospects of developing industrial projects in Iraq in a meeting with Egyptian businessmen, two months after a trip to Egypt to attract investment opportunities. Sudani met with Ahmed Elsewedy, chairman of the ElSewedy Group of Companies, and several Egyptian businessmen to “explore investment opportunities and partnerships” in Iraq, a statement from his office said. During the meeting, an agreement was reached to "study the establishment of industrial cities in Baghdad." “They also explored investment opportunities and partnerships in the fields of petroleum resource enhancement, localization of power transformer manufacturing, smart meters linked to the electricity grid, and the production of carbon steel,” the statement said. The meeting follows a visit by Sudani to Egypt in August, where he met with Egyptian President Abdel Fattah al-Sisi and Egyptian businessmen to attract investment opportunities to Iraq. Sudani emphasized the backing Iraq has received from Arab states, noting that “investment opportunities available in Iraq, received from Arab and foreign companies, have exceeded $100 billion.” Iraq and Egypt share strong relations. Several tripartite meetings have been held between Iraq, Egypt, and Jordan in Baghdad since 2021, during which they have discussed cooperation in the fields of security, military, and intelligence. The three countries agreed on closer economic cooperation in March 2019, when the first summit was held in Cairo. In June 2023, Sudani led a high-level delegation to Cairo, signing several memorandums of understanding covering finance, trade, tourism, and other fields.
