The Iraqi government on Tuesday offered contracts for the construction of 3.5 million housing units in Iraq to the Egyptian Ministry of Investment. If taken up, the project — part of the country’s reconstruction program — would be assigned to Egyptian private-sector contractors.
Iraqi National Investment Authority President Sami el-Aargi told Egyptian Investment Minister Mahmoud Mohi Eddin that there were “many other opportunities for Egyptian companies to carry out development projects in various fields, including tourism, industry and agriculture.”
Speaking on condition of anonymity, one board member of the Egyptian Contractors Union said that the Iraqi government was trying to make good on outstanding debts owed to Egyptian companies that took part in the Iraqi “Oil-For-Food” program, which was run by the United Nations from 1995 to 2003.
Translated from the Arabic Edition.
