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Iraq is counting on a “road” with which 10 countries have interacted: it will raise investment by 30% in 7 sectors
Economy |Today, 14:10 |
Baghdad today - Baghdad
The Services Committee in the House of Representatives said today, Monday (October 16, 2023), that the development path will raise investment in seven sectors by 30% in Iraq, while indicating the interaction of ten countries with the project.
The development road, or the dry canal, is
an Iraqi project to connect rail and land between Turkey and Europe in the north and the Arabian Gulf in the south,
to transport goods between the Gulf and Europe.
Its cost reaches 17 billion dollars and will be completed in a record period, starting from the year 2024 until the year 2028, according to the spokesman for the Prime Minister, Muhammad Shiaa Al-Sudani.
Committee member MP Baqir Al-Saadi stated in an interview with “Baghdad Al-Youm” that
“the development road is not just a project, but rather a qualitative shift and will bring about a fundamental change in the compass of international transport routes extending from Southeast Asia towards Europe, leading to a reduction in costs by a percentage ranging from 20- 25% and a time of approximately 35%. He added,
"The development path will raise investment in 7 vital sectors in Iraq by no less than 30%, whether housing, industry, or others, pointing out that
10 countries have interacted positively with the project, which will be a qualitative leap for the country in the coming years." Al-Saadi pointed out,
“The Sudanese government is serious about proceeding with the project despite the challenges because it will create strategic horizons for the country in terms of investing its geographical location in enhancing economic and commercial capabilities.”
According to specialists, this project will allow the transportation of goods between the east and west of the world, as the goods will be shipped on trains and trucks from the port of Al-Faw in southern Iraq to Turkey and from there to Europe via the road and railway network.
Goods will also flow from Asia and Europe via Turkey to be transported to the Gulf using this network.
The huge number of roads, railways, and the port of Al-Faw, which the Iraqi government is working to develop significantly, to be able to accommodate this volume of global trade.
It is expected that this huge project will
provide tens of thousands of job opportunities for Iraqi citizens and Iraqi companies, and
will also allow for the exchange of experiences and training.
These are the points that the Iraqi Prime Minister always focuses on in his foreign visits.
Most importantly, it will contribute to the development of the southern governorates, such as Dhi Qar, Maysan, and Diwaniyah, and
will also diversify the sources of income of the Iraqi state.
This is what the Prime Minister stressed through his words in which he launched the Iraq 2050 Plan, which aims to reduce dependence on oil as a main source of state resources.
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Economy |Today, 14:10 |
Baghdad today - Baghdad
The Services Committee in the House of Representatives said today, Monday (October 16, 2023), that the development path will raise investment in seven sectors by 30% in Iraq, while indicating the interaction of ten countries with the project.
The development road, or the dry canal, is
an Iraqi project to connect rail and land between Turkey and Europe in the north and the Arabian Gulf in the south,
to transport goods between the Gulf and Europe.
Its cost reaches 17 billion dollars and will be completed in a record period, starting from the year 2024 until the year 2028, according to the spokesman for the Prime Minister, Muhammad Shiaa Al-Sudani.
Committee member MP Baqir Al-Saadi stated in an interview with “Baghdad Al-Youm” that
“the development road is not just a project, but rather a qualitative shift and will bring about a fundamental change in the compass of international transport routes extending from Southeast Asia towards Europe, leading to a reduction in costs by a percentage ranging from 20- 25% and a time of approximately 35%. He added,
"The development path will raise investment in 7 vital sectors in Iraq by no less than 30%, whether housing, industry, or others, pointing out that
10 countries have interacted positively with the project, which will be a qualitative leap for the country in the coming years." Al-Saadi pointed out,
“The Sudanese government is serious about proceeding with the project despite the challenges because it will create strategic horizons for the country in terms of investing its geographical location in enhancing economic and commercial capabilities.”
According to specialists, this project will allow the transportation of goods between the east and west of the world, as the goods will be shipped on trains and trucks from the port of Al-Faw in southern Iraq to Turkey and from there to Europe via the road and railway network.
Goods will also flow from Asia and Europe via Turkey to be transported to the Gulf using this network.
The huge number of roads, railways, and the port of Al-Faw, which the Iraqi government is working to develop significantly, to be able to accommodate this volume of global trade.
It is expected that this huge project will
provide tens of thousands of job opportunities for Iraqi citizens and Iraqi companies, and
will also allow for the exchange of experiences and training.
These are the points that the Iraqi Prime Minister always focuses on in his foreign visits.
Most importantly, it will contribute to the development of the southern governorates, such as Dhi Qar, Maysan, and Diwaniyah, and
will also diversify the sources of income of the Iraqi state.
This is what the Prime Minister stressed through his words in which he launched the Iraq 2050 Plan, which aims to reduce dependence on oil as a main source of state resources.
[You must be registered and logged in to see this link.]
