$3 billion.. Saudi investments in Iraq

Baghdad Avenue is expected to become the largest shopping mall in Iraq, encompassing coffee shops, restaurants and commercial offices.

Saudi Arabia has entered into a contract with Iraq to set up a billion-dollar commercial project near Baghdad International Airport.

This project would enhance economic relations between the two countries, as the Iraqi and Saudi relations are witnessing a wonderful stage.

The largest shopping center in Iraq

The project is called Baghdad Street, and it is expected to become the largest shopping center in Iraq, including cafes, restaurants, and commercial offices. In addition, it will house 4,000 apartments and 2,500 villas.

Baghdad Avenue

Baghdad Avenue is a unique and surprising project for all Iraqis. Al-Shammari said that it is the largest commercial center in Iraq and will include cafes and restaurants with large areas and commercial offices for major Iraqi companies.

Strong relations between the two countries

The Saudi ambassador to Baghdad, Abdulaziz Al-Shammari, highlighted the recent visit of the King Salman Medical Center team to Baghdad, noting that the exchange of knowledge between Iraqi and Saudi doctors embodies the strong relations between the two countries.

He added, “Today, we started reaping its real fruits through the visit of the King Salman Medical Center team to Baghdad, which is the first specialized and practical visit through which we witness the exchange of experiences between the most skilled doctors in the Kingdom, as well as the best Iraqi doctors to exchange experiences in fields and subspecialties, which are the first fruits.

Economic and cultural discussions

Al-Shammari indicated that the two countries will soon host meetings that include economic and cultural discussions. "The next stage will witness a great momentum in the activities that take place between the two countries," he said.

$3 billion

In March, the Saudi Public Investment Fund established a new company to invest in various industries across Iraq, with a capital of $3 billion.

CEO Miteb Al-Shathri said during a meeting of the Saudi-Iraqi Coordination Council held in the Kingdom that the Saudi-Iraqi Investment Company will invest in infrastructure, mining, agriculture, real estate development and financial services.

Saudi Passports

On another side, The Saudi Passports Directorate announced the inclusion of the travel permit service to Iraq within the communication service on the Absher platform, to facilitate the beneficiaries without the need to visit its headquarters, and to adhere to the conditions described when implementing the service.

These steps come after the significant growth of Saudi-Iraqi relations in the past years, and mutual visits between officials in the two countries in light of the establishment of the Saudi-Iraqi Coordination Council in 2017, which enhanced opportunities for trade exchange and joint cooperation to improve relations between the two countries.