Eight-nine investment licenses worth $5.4 billion were granted this month to Iraqi, Arab, Asian and European investors for projects in Baghdad, the National Investment Commission in Iraq said Monday (March 19th).

Farouk al-Araji, the commission president, told Al-Shorfa the licenses were for projects in the service, commercial, residential, health, education, agricultural and industrial sectors.

He said the investors are from Germany, Italy, Canada, Austria, Cyprus, Spain, Greece, Turkey, Tunisia, Egypt, UAE, Jordan, China, Japan and Ukraine.

Al-Araji said one investment project is a skyscraper called "Baghdad Tower", which would provide offices for international companies and have restaurants and luxury residential units.