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The Iraq Fund for Development approves steps to localize industries and attract foreign investments
5/20/2024
Today, Monday, Prime Minister Muhammad Shiaa Al-Sudani chaired the third meeting of the Board of Directors of the Iraq Fund for Development, in the presence of the Minister of Finance, and the Ministers of Planning, Construction, Housing, Municipalities, and Public Works.
The meeting discussed, according to a statement by Al-Sudani’s office, a copy of which {Al-Furat News} received, “in the projects placed on the Fund’s work plan, the introduction of foreign investments into the Iraqi economy, and within the course of work of the Fund’s projects and targeting the localization of various industries in Iraq, requests submitted by private sector entities were discussed for the purpose of Construction of school buildings, as requests exceeded what was offered for the project in its first phase.”
He added, "The meeting also discussed a project to establish a factory for manufacturing passenger buses, in partnership with one of the specialized international companies, and also discussed a request to establish a factory for electronic tablet computers and use them in schools within the educational and pedagogical process."
The statement indicated that "the meeting discussed the issue of partnerships with American, British and Saudi companies in the fields of modern irrigation technologies and the use of technology in this context, as well as in the field of liquefying industrial gases and lighting roads and bridges."
The meeting discussed, according to a statement by Al-Sudani’s office, a copy of which {Al-Furat News} received, “in the projects placed on the Fund’s work plan, the introduction of foreign investments into the Iraqi economy, and within the course of work of the Fund’s projects and targeting the localization of various industries in Iraq, requests submitted by private sector entities were discussed for the purpose of Construction of school buildings, as requests exceeded what was offered for the project in its first phase.”
He added, "The meeting also discussed a project to establish a factory for manufacturing passenger buses, in partnership with one of the specialized international companies, and also discussed a request to establish a factory for electronic tablet computers and use them in schools within the educational and pedagogical process."
The statement indicated that "the meeting discussed the issue of partnerships with American, British and Saudi companies in the fields of modern irrigation technologies and the use of technology in this context, as well as in the field of liquefying industrial gases and lighting roads and bridges."
The meeting also witnessed setting dates for launching the “Rent and Own” project, for the purpose of contributing to developing practical and economic solutions to the housing crisis.