But a World Bank report in July said investors were still hesitant to put their money in Iraq, citing a"lack of business-friendly legislation, a volatileHassan acknowledged investors still faced numerous obstacles, including"the security situation" and"bureaucracy".
In late August, Sudani attended the groundbreaking ceremony for a luxury hotel and residential complex, the first major Qatari investment in Baghdad. Since taking office in October, Iraq's Prime Minister Mohamed Shia al-Sudani has sought to rehabilitate Baghdad's infrastructure. Photo: Murtaja LATEEF / AFP"In recent years, Iraq's political elite and theirassociates have preferred to invest their wealth in local projects as a safe haven for ill-gotten gains," wrote Hayder al-Shakeri in a piece for the Institute of Regional and International Studies at American University of Iraq, Sulaimani.