Political party interference monopolizes Iraq's investment sector

ERBIL (Kurdistan24) – Political party interference has led to monopolization and mismanagement in the investment sector in Iraq. Many investment projects are controlled by companies either owned by or operated under the orders of political parties.

Iraqi lawmakers have criticized the obstacles to implementing amended Investment Law No. 13 of 2016, highlighting how militias and economic committees linked to political parties exploit the law's loopholes for their gain. These groups have been able to dominate the country's investments, undermining fair economic development.

Corruption remains a significant challenge for Iraqi governments, despite repeated vows to combat it. Corruption networks, particularly within state sectors and ministries, continue to thrive, enabling parties to advance their agendas. The economic committees in both parliament and government are often implicated in these corrupt practices.

Political affairs researcher Majashi Tamimi asserts that most investment companies in Iraq are linked to ruling parties, which has led to the squandering of national wealth. Tamimi states these parties consistently seek government participation to exploit additional resources.

"The parties have economic committees that secure investment opportunities through their government ministers," Tamimi explains. "Most investment contracts are controlled by authorities who oversee tenders and sales, making it difficult for investigative committees to prove corruption."