The government allocates $100 billion to support strategic projects
Mawazine News – Baghdad
The Undersecretary of the Ministry of Foreign Affairs for bilateral relations, Mohammed Hussein Bahr Al-Uloom, stressed on Monday the importance of strengthening bilateral relations between Iraq and Greece, noting that the government allocated a budget estimated at $100 billion to support major strategic projects over 3 years.
“I am honored to welcome you to this Iraqi-Greek forum, which represents a milestone in the course of relations between our two friendly countries,” Bahr Al-Olum said during his speech at the Iraqi-Greek Forum in the capital Baghdad, which was followed by Mawazen News, adding that “the organization of this forum reflects our joint commitment to strengthening the bonds of friendship and cooperation, and provides a valuable opportunity to exchange ideas and explore new horizons for fruitful partnership that serves the interests of the two peoples.”
He pointed out that “Iraqi-Greek relations are not born today, but extend to the 1930s, when Greek companies played an important role in the renaissance of Iraq, especially in the fields of infrastructure.”
“In light of the security and economic improvement that Iraq is witnessing today, we are ready to support a strong return of Greek companies to invest in the promising Iraqi market that is full of diverse opportunities,” Bahr Al-Ulum said.
He pointed out that “the visit of the Greek delegation is a prominent station to strengthen bilateral relations in the economic field,” pointing out that “during this visit, in-depth discussions were held with Iraqi officials on vital files, and promising understandings were reached that we hope will soon be translated into concrete projects that benefit the two countries.”
Bahr Al-Uloom stressed that “Iraq believes in the importance of real partnerships built on the basis of common interests and we look forward to benefiting from the experience of Greek companies and their pioneering trade.”
The Sea of Science highlighted the vision of the ambitious Iraqi government led by Prime Minister Mohammed Shia Al-Sudani, which aims to develop the Iraqi economy by supporting the private sector and stimulating foreign investment, explaining that “the government has launched initiatives, including the Iraqi Fund for Development to attract foreign investments in cooperation with prestigious international funds, in addition to providing sovereign guarantees to support the private sector in the implementation of these projects.”
He warned that “the government has allocated a budget estimated at 100 billion dollars over three years to implement major infrastructure projects, and this is an appropriate ground for the participation of Greek companies,” pointing out that “the government is proceed with the project of the strategic development path, which connects East and West at the lowest cost and establishes new economic cities in Iraq.”
“The government plans to build one million new housing units, which provides wide areas for international companies, as well as opportunities in the energy sector, as Iraq produces 4 million barrels of oil per day and ranks third in production, and also has large reserves of gas, and aims over the next five years to develop its production in this field,” he explained.
Bahr Al-Uloom stressed that “Iraq seeks to develop the pharmaceutical and food industries with annual needs exceeding 3 billion dollars,” pointing out that “Iraq, thanks to its security stability and economic vision, is a reliable strategic partner for Greek companies.”
