$150 billion expected investments in the “Development Road”
The Iraq Development Fund revealed its expectations that the volume of investments in the Development Road Project will reach about (150) billion dollars, subject to increase in the coming years, stressing that the project represents a qualitative economic shift that will redraw the investment map in Iraq and the region, and open new horizons for cooperation with international partners.
The head of the fund, Muhammad Al-Najjar, said in a statement to Al-Sabah: “Major changes are looming on the horizon for the Iraqi economy, with investments in the project expected to reach about (150) billion dollars, most of which are partnerships between Iraq and international companies within a safe and attractive investment environment.”
He added that the fund plans to launch an international investment conference to market the project. This conference could be held at the Faw Port or as a global tour to showcase investment opportunities to governments, sovereign wealth funds, and major corporations.
Al-Najjar pointed out that the development road project includes an integrated economic system that includes transportation, industry, energy, agriculture, housing and logistics services, on an area of approximately (24) thousand square kilometers, which is equivalent to the area of the State of Belgium, which allows for the establishment of industrial and residential cities and modern production projects.
The Fund Chairman confirmed the exclusion of any financial or funding obstacles, noting that the government has established an independent legal framework to manage the project, ensure transparency, and protect investor rights, while closely monitoring all specialized opportunities across various sectors, including oil and gas, industry, and agriculture.
Alsabaah.iq