US firms turn to Iraq: Chamber sees major potential

Shafaq News/ American companies are showing growing interest in investing in Iraq, particularly in the energy, healthcare, and technology sectors, a senior official at the US Chamber of Commerce revealed on Wednesday.

Steve Lutes, Vice President of the Chamber, told Shafaq News that a delegation of more than 60 US firms recently met with Iraqi Prime Minister Mohammed Shia al-Sudani and other senior officials in Baghdad.

Lutes described the meeting as an opportunity to hear the Prime Minister’s vision for enhancing US-Iraq relations, adding that several agreements were signed during the visit with coordination from the US Department of the Treasury.

The trip, he said, marks a step toward long-term economic cooperation and represents a “new chapter” in expanding bilateral partnerships. More US business delegations are expected to visit Iraq in the coming months, with a particular focus on infrastructure and industrial development.

He added the US Treasury is expected to play a “key role” in supporting Iraq’s economic growth.

Meanwhile, Ibrahim al-Baghdadi, President of the Iraqi Economic Council, emphasized the visit signals a strengthening of bilateral ties and reflects an improving investment climate in Iraq, noting the country’s need for further investment, particularly in education and infrastructure.

“The years following liberation were difficult, but we are seeing progress,” al-Baghdadi said, pointing to the role of the American University in Iraq’s educational development and the broader US contribution since 2003.

He highlighted the US delegation, comprising more than 100 participants, coincided with the launch of a new government initiative led by Prime Minister al-Sudani aimed at bolstering the private sector.

“Iraq is in a much better position today,” he concluded. “We welcome all companies interested in contributing to Iraq’s economic growth.”