The Administrative Undersecretary of Iraq’s Ministry of Industry and Minerals Makki Ajeeb Al Diri has affirmed that the opportunity is ripe for Iranian companies to operate and invest in Iraq by rehabilitating old factories or building new ones.

The Ministry welcomes any joint cooperation between Iraq and Iran that benefits both countries, he added.

There are many promising investment opportunities in this field, Al Diri highlighted, adding that such opportunities include building plants for the manufacture of drugs by Iranian investors or through cooperating with public or private companies to rehabilitate some plants, particularly in light of Iraq’s ever-growing needs.

Iraq’s medicine needs exceed $3 billion per year, he noted, adding that Iraq needs four new laboratories in Baghdad and the other governorates to meet local demand.