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Baghdad: Iraq's government has opened 22 state-run companies for domestic and international investment, hoping investors will see opportunities here now that violence is on the decline, a senior official said on Thursday.
Adel Karim, deputy minister for investment and development, said the companies are in the fields of engineering, reconstruction, textiles, chemicals, petrochemicals, food and medicine.
"The chances for profits in Iraq are very very big since we have a large market and a huge budget that will exceed $60 billion," Karim said.
Iraq is hoping to find investors willing to help rehabilitate, modernise and manage industrial plants under production-sharing agreements which can be negotiated.
"We prefer these agreements to be for 15 years: three for rehabilitation and 12 for manufacturing," he said.
"We can negotiate whatever they want."
Interested parties have until July 10 to submit their proposals.
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