Iraq Signs Contract for New Economic City, 4 APRIL

 Iraq Signs Contract for New Economic City

The National Investment Commission (NIC) has signed the Task Order for Phase One of developing the Al-Tayeb Specialised Economic Service Zone in Maysan Province, positioning it as Iraq's first integrated economic city.

Key Developments:

• NIC Chairman Dr. Haider Mohammed Makiyah stated that Al-Tayeb Economic City will attract global investors across agriculture, industry, tourism, housing, and entertainment sectors, serving as a model for future multi-service economic cities in other provinces.
• The contract, signed with U.S. firm KBR, includes strategic economic studies, investment opportunity packaging, and sectoral planning for the area.

The project aims to:

• Establish a major economic hub linked to the Development Road project.
• Boost Iraq's economy and provide local employment in Maysan.
• Strengthen interagency coordination for smooth project execution.

The meeting was attended by the Governor of Maysan, members of Executive Order Committee 24771, the Maysan Investment Commission, and representatives from the Prime Minister's Office. Discussions focused on ensuring timely implementation, promoting sustainable development, and creating attractive investment opportunities in Iraq.

(Source: NIC)