Iraq PM confident of renewed Japanese investment

Tokyo, Apr 10: Iraqi Prime Minister Nuri al-Maliki today said he was confident big Japanese companies would return soon and make investments in the war-torn country.

Maliki was in Tokyo on a four-day visit for talks with Japanese government and business leaders.

''We have seen a great desire and will for the Japanese side to enter Iraq to have projects. The negotiations are still going on,'' Maliki told reporters through a translator.

He was speaking a day after Japanese leaders gave him firm assurances Tokyo would continue to help his country to rebuild.

''We have also met representatives from big Japanese companies and they are willing to work in Iraq in the area of oil and other fields,'' he said. ''We are very optimistic about the prospect of cooperation in that field.'' Japan and Iraq signed a contract yesterday for Tokyo to extend 102.8 billion yen for four projects as part of its total loan aid.

Tokyo also said it was ready to provide Iraq with another 510 million dollars in loans, part of the overall pledge, to help finance the restoration of water and sewage treatment, power supply and other facilities.

Iraq, which sits on the world's third-largest proven crude oil reserves, is struggling to rebuild its shattered economy after four years of war following the US-led invasion in 2003. Japan depends on the Middle East for nearly all its crude oil.

REUTERS