Economy News – Baghdad
The office of Prime Minister Muhammad Shi’a Al-Sudani has officially announced the commencement of the third phase of the “Baghdad Pulse” initiative, aimed at the rehabilitation of Al-Rashid Street.
In a statement released by the Prime Minister’s Office, it was highlighted that this initiative is part of ongoing efforts to revitalize Baghdad’s urban heritage and stimulate economic development. The project is being executed in collaboration with the Iraqi Special Banks Association, the Baghdad Municipality, and the Ministry of Culture. Al-Rashid Street is recognized as one of Iraq’s oldest and most significant heritage avenues.
The prime objective of this phase is to restore the unique architectural essence of Al-Rashid Street, enhance its infrastructure, and reinforce its role as a dynamic economic and cultural hub. This initiative is anticipated to foster heritage tourism—especially with Baghdad designated as the Arab capital of tourism for 2025—simulate investment activities, and cultivate an environment that resonates with Baghdad’s historical identity.
Moreover, this initiative aligns with the government’s broader vision to boost public-private partnerships in supporting strategic projects that enhance the urban and economic landscape of the capital. Iraqi private banks are playing a crucial role in financing the rehabilitation and reconstruction efforts.
The ongoing implementation of the “Baghdad Pulse” initiative underscores a commitment to advancing Baghdad’s infrastructure in accordance with the latest international standards. This commitment aims to reinforce the city’s status as a flourishing economic and cultural center, thus restoring its standing as one of the region’s most historically significant capitals.
In closing, all relevant authorities and civil society are encouraged to play an active role in facilitating the success of this initiative. The government reiterates its dedication to providing the necessary resources to achieve the initiative’s objectives, acknowledging its potential positive impact on the national economy as well as the tourism and heritage sectors.
To receive more news, subscribe to our channel on Tilekram
