4 Hrs
Source:
Sky News
Iraq unveils $40B in local investment
The Iraq Development Fund revealed the existence of investment opportunities worth $40 billion to produce local goods instead of importing them, as part of efforts to strengthen the national economy and reduce reliance on imports. The fund's head explained that the organization's funds are allocated to profitable investment projects that generate returns and are reinvested, shifting focus from government spending to investment in order to diversify sources of income. He pointed out that Iraq is suffering from halted oil exports and a weak budget, making these investment opportunities particularly important for creating jobs and fostering genuine development across various sectors. He also confirmed that the Fund’s Board of Directors is awaiting approval of policies aimed at projects that capitalize on these opportunities to enhance the national economy.
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