Shafaq News – Baghdad

Iraq’s Strategic Development Road Project presents a major investment opportunity, with total investments exceeding $100 billion, Transport Minister Razzaq Muhaibis declared on Saturday.

Speaking with Shafaq News during the Iraq Investment Forum in Baghdad, Muhaibis highlighted that the Road Project and the Grand al-Faw Port represent the largest investment opportunities showcased at the forum, emphasizing that Iraq is inviting all countries to participate.

He added that Oman has submitted an official request to join the project, while Turkiye, the United Arab Emirates, and Qatar had already become participants, highlighting the ‘’strong’’ international interest.

In April 2024, Iraq, Turkiye, the UAE, and Qatar signed a quadripartite agreement on the Development Road project under the auspices of Iraqi Prime Minister Mohammed Shia Al-Sudani, who later described the initiative as a key step in “diversifying Iraq’s investment landscape and boosting the national economy.’’

Read More: Iraq’s Developement Road: Geopolitics, rentierism, and broader connectivity