Iraq’s Economic Potential: A Hub for Investment and Growth
On Saturday, Prime Minister Muhammad Shi’a Al-Sudani emphasized Iraq’s potential as a fertile ground for economic ambitions, underscoring the nation’s significant urban development trajectory, particularly in housing. This declaration was made during the inauguration of the 48th session of the Baghdad International Fair, where the Prime Minister articulated a vision for fostering productive partnerships and strengthening cooperation in the face of contemporary challenges.
In his remarks, Al-Sudani expressed enthusiasm for the participation of representatives from 1,250 companies, drawn from 22 allied and friendly nations. He stressed that this year’s exhibition reflects Iraq’s vibrant activity across various sectors—including economy, industry, agriculture, infrastructure, services, and energy. "We have implemented over 27 months of coordinated plans to facilitate a notable transformation that aligns with the aspirations of our citizens," he stated.
The Prime Minister reiterated that the true measure of governmental success hinges on citizen satisfaction and engagement with economic reforms, emphasizing that these reforms must be profound and impactful. Al-Sudani expressed a desire for the Baghdad International Fair to serve as a venue for collaboration and a platform for exploring opportunities and initiatives that can bolster Iraq’s economic development.
Moreover, he highlighted the promising health sector, which has seen the completion of numerous hospital projects, the establishment of collaborative management practices, and the activation of health insurance mechanisms. The influx of foreign investment exceeding $60 billion signifies a growing trust in Iraq’s economic landscape.
The overarching strategic vision aims to create a developmental corridor stretching from the Paw Port to northern borders, enhancing trade and operational efficiency between Asia and Europe. This vision articulates Iraq’s potential role as a central trade nexus in the Middle East.
Through these initiatives, Iraq is poised to become a significant player in the global economic arena, embracing opportunities for sustainable and inclusive growth.
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