A number of UAE companies wanting to launch investment projects in Basra province has increased in recent weeks, said a spokesman for Basra’s governor on Sunday.

“Basra province received more than four UAE companies within a month,” Salem Al-Taqi, told AKnews. [We assume that "more than four" means "five" - Ed.]

“Basra’s governor, Sheltag Aboud, received a delegation from the UAE Advisory Office including the director general of the office, and the senior engineer. Both sides discussed methods to initiate investment projects inside the province.”

The UAE companies will invest in residential and commercial complexes as well as other businesses, with a total value of “up to $50 million dollars,” said Taqi.

Basra, 550 km south of Baghdad, has received a substantial number of foreign companies, the Swedish delegation and Canadian companies were the last companies to visit the province stating that they will work to develop tourism projects.

(Source: AKnews)