Iraq: The Development Road Project establishes a non-rentier economy capable of meeting contemporary challenges.
Iraqi Minister of Transport Razzaq Muhaibis al-Saadawi said on Tuesday that the vital development road project lays the foundation for a non-rentier economy capable of meeting the challenges of the times.
This came during his hosting of a dialogue session at the Global Rail 2025 exhibition for rail, transport and infrastructure in Abu Dhabi, UAE.
During the session, Al-Saadawi stated that international experience confirms that investing in railway infrastructure yields significant returns, including reduced transportation costs, enhanced trade competitiveness, and increased supply chain efficiency. Hence, the Iraq Development Road Project, a pioneering project that has made the railway sector one of its main pillars.
He added, “The Iraq Development Road project is not just a corridor for goods and passengers, but rather a network of life that brings with it job and investment opportunities.”
The Minister continued by saying that the development path represents a strategic vision for rebuilding the economy on sustainable foundations, through industrial and investment cities along its path. It also serves as a bridge linking the interests of countries and their cultures, transforming distances into cultural opportunities and establishing a non-rentier economy capable of meeting the challenges of the times.
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.
The strategic development road project is expected to contribute to stimulating economic growth and strengthening regional and international cooperation, achieving economic integration and sustainability between East and West.
The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.
It’s worth noting that the “Development Road” project is a land and railway route extending from Iraq to Turkey and its ports. The road and railway span 1,200 kilometers within Iraq and are primarily intended to transport goods between Europe and the Gulf states.
The project’s investment budget is approximately $17 billion, including $6.5 billion for the expressway and $10.5 billion for the electric train. It will be completed in three phases, the first of which will end in 2028, the second in 2033, and the third in 2050.
The project is expected to provide approximately 100,000 job opportunities in the first phase, and one million job opportunities upon completion.
Shafaq.com