Boosting economic ties: Qatar pledges billions for Iraq's key sectors

Five billion dollars from Qatar to Iraq, a significant figure on the results of the visit of Qatar's Emir Tamim bin Hamad Al Thani to Baghdad.  

These funds are the outcome of investments that Qatar will undertake in several sectors in Iraq in the coming years, according to what the spokesperson of the Iraqi government, Bassim Al-Awadi, told LBCI. 

In the oil sector: 

- A joint company will be established to build and operate crude oil and petroleum product transport ships and construct a refinery in Iraq with a production capacity of up to 150,000 barrels per day. 

- Supply Iraq with liquefied gas extraction technologies, collaborate with Qatari companies to build gas reception stations, and establish power stations and pipeline networks for gas transportation. 
 
As for the project of extending a gas pipeline from Qatar to Iraq and then to Turkey and Europe, an Iraqi source confirmed to LBCI that this step is premature, but the recent Qatari-Iraqi meeting sets the groundwork for this project in the future. 

In the real estate sector: Qatar intends to develop modern residential cities in Baghdad and build five-star hotels.

In the healthcare sector: Qatar plans to operate several hospitals in various Iraqi provinces. 

The Iraqi-Qatari memorandum of understanding signed on Thursday, which includes these investments, will be referred to the relevant ministries in Baghdad for coordination and implementation in collaboration with the concerned ministries in Doha. 

Therefore, Qatar is present in Iraq through investments in vital sectors such as energy and infrastructure, extending to the development route that connects Iraq to the Gulf, Turkey, and Europe, which Qatar has expressed readiness to invest in as well.