PM Al-Sudani: Iraq explores economic partnerships and industrial zones with neighboring countries

Shafaq News/ Iraqi Prime Minister Muhammad Shiaa Al-Sudani announced on Saturday that the government is actively considering establishing economic projects, industrial cities, and free zones through partnerships with neighboring countries.

Al-Sudani highlighted ongoing studies for collaborative initiatives with Iran, Saudi Arabia, Jordan, and Kuwait in his address at the Industrial Partnerships Forum in Basra.

Describing the Development Road Project as groundbreaking, Al-Sudani emphasized that it marks Iraq's first venture into settling industrial cities, commencing from Al-Faw port and extending to the connection point with Turkey.

Addressing the need for economic reform, Prime Minister Al-Sudani stated that "Iraq possesses natural resources capable of meeting local market demands and exporting surplus products." Emphasizing the shift from a mono-economic reliance on oil, he outlined the government's commitment to diversifying the economy by supporting industry, agriculture, tourism, and trade.

Al-Sudani underscored the importance of practical developments, asserting that "Iraq must transform from a consumer market for imports to a self-sustaining, advanced industrial economy." He emphasized the role of industrial sectors in generating job opportunities for the country's youth, acknowledging the challenges posed by unemployment.

For its part, the Iraqi Minister of Industry and Minerals, Khaled Battal Al-Najm, unveiled 90 participation opportunities between government companies and the private sector, totaling approximately $10 million in investment value. These opportunities span diverse sectors, offering a range of possibilities for interested companies.