Private Domestic Investment in Iraq: Opportunities and Challenges

Abstract

Investment is considered one of the most important pillars that contribute to the growth and development of the economy as it is the core of the development process because of the strategic goals it achieves that guarantee economic stability in any country. It falls within the priorities pursued by macroeconomic policies to develop the national economy, allowing for achieving well-being and raising the standard of living. Therefore, many countries have taken the necessary measures to create an appropriate business environment to attract more investments and work to stimulate local investment as a source of capital, technical expertise, and technology transfer in various activities to increase production capacity. This study focuses on the role played by private local investment in Iraq, especially in light of its potential and resources. It also reveals the shortcomings that limit the development of investment projects that benefit the national economy. The research concluded that there is reluctance and slowdown in the completion of projects, which will affect economic activity in general and the sectors within which these projects fall in particular, and thus weaken the role of private domestic investment in achieving the desired goals and stimulating economic growth. He proposed a set of recommendations, the most important of which is for the government to prepare the necessary infrastructure in order to stimulate the private sector. Local investment and the provision of new job opportunities.