The Foreign Direct Investment (FDI) Attraction Workshop held in Baghdad was no ordinary event. It was the first workshop of its kind and scale to be organized in Iraq, bringing together leading international organizations, including the United Nations Trade and Development (UNCTAD), the Organisation for Economic Co-operation and Development (OECD), the World Economic Forum (WEF), and the International Tax and Investment Center (ITIC).

Foreign Direct Investment is not simply about capital entering a country. It is about transferring knowledge, enhancing skills and expertise, localizing technology, and building productive sectors capable of creating sustainable jobs and integrating Iraq into global value chains.

The workshop provided an open assessment of the structural foundations Iraq’s economy needs to keep pace with global transformations and transition from a rentier, consumption-driven economy to a diversified, non-oil economy.

Studies indicate that the Middle East attracts 68% of international investors’ interest, ranking second globally. These figures represent more than statistics; they point to a historic opportunity that requires decisive action and bold policies.

The takeaway:

FDI is not a magic solution, but it can be one of the strongest drivers of economic transformation when supported by the right legislative and regulatory environment.

What took place in Baghdad was a tangible step towards moving beyond talking about opportunities and building a genuine pathway to development.