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UK Ambassador to Iraq Highlights Investment Opportunities and Economic Diversification
In a recent address during the Iraq Energy Conference, UK Ambassador to Iraq, Stephen Higgin, emphasized the importance of intellectual achievements in Iraq’s historical narrative while acknowledging the readiness of Gulf states to invest in the country. Higgin stated that “the Iraqi economy and income must be diversified,” noting that previous challenges faced by Iraq have had a ripple effect on the broader region. He pointed out that the security landscape in Iraq is enhancing significantly, stating, “if we compare the security situation during previous years, there is remarkable progress.”
During the Prime Minister Mohammed Shia Al-Sudani’s visit to London, substantial agreements were reached, including a commitment of £12 billion, reflecting a growing willingness from Gulf nations to make investments in Iraq. He indicated, “this has improved the situation, as we invested in the soil and currently in oil, and we hope in the future to invest in youth,” highlighting the potential of Iraq’s younger population.
Higgin further acknowledged the contributions of the British-Iraqi community in fostering connections between Iraq and UK businesses, underscoring its significance in advancing economic ties. He reiterated support for the Prime Minister’s vision of achieving energy independence for Iraq, while addressing the pressing issue of associated gas flaring. “There is a health effect on the citizen from burning gas,” he remarked, advocating for collaborative efforts to address environmental challenges.
Additionally, Higgin warned that delays in government formation following elections could hinder developmental progress, stressing the need for political blocs to expedite the formation of a government to ensure continuity in operations and economic stability.