Director of the country's National Investment Commission Sami Al-Araj said the government looks to court foreign investment, diversify the country's oil-dependent economy and reduce unemployment.
"We are talking about the reconstruction of Iraq, a minimum requirement of money...Is about USD 600-USD 700 billion and could go all the way to USD 1 trillion," Al-Araj was quoted by Gulf Times as saying.
He was speaking on the sidelines of the Baghdad International Fair, Iraq's biggest trade showcase in more than 20 years.
Al Araji said much of that money could come from Iraq's rising exports of crude oil, which account for the lion's share of the government income, but "some will have to come from foreign and domestic direct investment."
The figure is a marked increase from USD 186 billion targeted for 2010-2014 -