Al-Sudani’s advisor: The development path will contribute 20% to diversifying the Iraqi economy.
Mudhar Mohammed Salih, an advisor to the Iraqi Prime Minister, revealed on Monday that the development road project will contribute 20% to diversifying the national economy.
Saleh told Shafaq News Agency, “The development road project, which connects the port of Al-Faw in southern Iraq to Turkey via a 1,200-km railway and road network, is one of the largest logistics projects in the region, with an estimated cost of $17 billion.”
He added, “The project will open the door to diversifying the national economy, as the road connects to free economic zones, industrial cities, and advanced logistics services.” He predicted that it “will contribute approximately 20% to diversifying the national economy in terms of its contribution to the GDP in the long term.”
Saleh pointed out that “this will be a basis for employing the national workforce of approximately one million workers and activating important joints in the national economy, in addition to advanced land and rail transportation services, in addition to attracting regional and international investments without interruption, as it connects the Gulf to Europe via Türkiye, which are important economic regions globally in terms of relative weight.”
The government advisor concluded his remarks by saying, “The project will sustainably strengthen the Iraqi economy and improve the country’s resilience to global market fluctuations. If invested efficiently and integrated with plans to boost industry, trade, and services, its impact could undoubtedly be as significant as that of oil in the long term.”
In April 2024, Iraq, Turkey, the UAE, and Qatar signed a quadripartite agreement on the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdoğan.
The agreement aims to enhance cooperation regarding Iraq’s strategic development project, as the four countries will work to establish the necessary frameworks for its implementation, according to a statement issued by the Prime Minister’s Office.
Shafaq.com