Economic Developments – Baghdad
On Sunday, the Supreme Committee for Reconstruction and Investment announced new governmental initiatives aimed at advancing investment opportunities in Baghdad and other governorates across Iraq.
A statement from the Prime Minister’s Media Office indicated that “Prime Minister Mohamed Shi’a Al-Sudani presided over the regular meeting of the Higher Committee for Reconstruction and Investment.” The meeting focused on current investment projects and assessed the progress of ongoing investment opportunities within the capital, Baghdad, and nationally.
During the session, several decisions concerning investment projects across various sectors such as industry, housing, and services were reached. Notably, approval was granted for housing projects earmarked for employees of the Ministry of Defense in Basra and Nineveh.
The committee also endorsed a new investment model emphasizing the state’s interest in housing units within emerging residential complexes and cities. Additionally, a methodology for investors to undertake service projects in infrastructure was ratified, linked to the state’s equity share. This model is set to be applied prominently in projects aimed at rehabilitating and expanding roadways in Sadr City, located to the east of Baghdad.
Furthermore, the committee deliberated on the establishment of a new headquarters for the Union of Arab Historians in Baghdad, with the Prime Minister directing the resolution of this matter by planning a suitable headquarters in terms of size, location, and design.
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