The Department of Political and International Science at the Islamic College of the University held a dialogue seminar entitled (Foreign Investment and its Impact on the Iraqi Economy) delivered by Professor Osama Al-Heli, Professor of Economic Studies at the Islamic College / Najaf Al-Ashraf.
Mr. Al-Heli touched on the types of investment and its positive and negative advantages and the causes that stand in the way of investment, The bureaucracy in Iraqi departments and the laws through which it operates are the first obstacle in attracting foreign investment.
In a talk about the features, he pointed out that investments transfer administrative, technological, marketing and productive expertise and its development. However, the disadvantages may keep the country subject to those operating companies, most of which are multinational and transcontinental companies.
Whereas, Dr. Abdul Razzaq Al-Rubaie, Professor of Strategic Studies at the College, stated that the socialist economy is still in control of the state sectors and that the operational budget takes 80% of the state budget. He called for investment to be concentrated in the oil and pertrochemical sector for its large material returns and ease of marketing production.
In an intervention by Dr. Majid Al-Hadrawi, Head of the Department of Political Science at the College, the growth of investments is linked to regional and internal wills that limit its growth and development, because it can take its regional role in the region because of the high potential that Iraq possesses, and if those wills are combined, they cannot stop all investments entering the country