Al-Rayes: The path of development is the first gateway to sustainable economic advancement
Economical 04/28/2024
[You must be registered and logged in to see this image.]
Iraq realizes that the first step to securing the minimum requirements for economic and social growth and progress and improving the economic, social and environmental aspects related to the lives of the population is to establish, rehabilitate and develop infrastructure networks that connect various regions.
Economic expert Afif Al-Rayes said in an interview with “Al-Sabah”: Iraq launched its historic initiative on May 27, 2023, under the title “Development Road,” which is an Iraqi project to link land and railways between Europe in the north and the Arabian Gulf in the south to transport goods between them and across Iraq. The length of the railway is from the large port of Al-Faw to the port of Iraqi Fish Khabour (Iraqi-Turkish border) is 1,175 km long, and the length of the land road is 1,190 km.
Al-Rayes added that the major project is not limited to the construction of land and railway roads, which will shorten the duration of transporting goods from 35 days by sea to 25 days, but cities will be established close to this road and new residential cities close to large cities. These cities will accommodate large numbers of residents and provide Industrial cities provide job opportunities for them.
He stated that according to the plan, this strategic project will be implemented through five stages: the first: expanding the Iraqi ports in Umm Qasr and Khor Al-Zubair to accommodate the goods that will be transported to Europe, and the second: constructing a railway with a length of 1,175 kilometers and a travel speed of 140 km/hour and the construction of a land highway along... 1190 km.
As for the third, Al-Rais explained that it includes the establishment of 15 economic cities close to the route of the road that will pass through 13 Iraqi governorates, in addition to new residential cities close to large cities. These cities will accommodate large numbers of residents working in these economic cities and will contain various industrial, agricultural, tourism and educational projects. From these economic stations, Iraqi products will be shipped to the countries of northern and southern Iraq, and these economic cities will be integrated complexes for the production of industrial and agricultural products and will achieve gradual increases in the percentage of these sectors’ contribution to the gross domestic product.
While the fourth and fifth phases include the establishment of the largest economic city in the Middle East, north of the city of Al-Faw, in which huge industrial projects will be established for strategic products for export purposes, as well as warehouses that store goods rented by foreign companies from the Arab Gulf countries and Southeast Asia to export their products via road networks, and the establishment of a corridor ( Corridor along the route of the road to transport services and utilities, including energy, oil, gas, optical cable, and others to meet the needs of the economic cities established along the road. This corridor will extend beyond the Iraqi borders.
Al-Rayes pointed out that this strategic project includes details of the components of implementation, the size of costs, and work mechanisms between the parties related to ownership and management, which are the governments of the countries participating in the project, and that investors from different countries and the Iraqi production and service sectors. These obstacles have not yet been announced, and it requires the development of a road map that specifies the roles and tasks. Every activity and event, as well as a complete perception of the nature of the project and the size of the contribution of the participating countries.
He said: Through the details announced, a future picture of this project can be drawn and the economic and social achievements it will achieve for Iraq during the completion stages, which are three stages: the first stage ends in 2028, the second ends in 2038, and the final third ends in 2050.
He pointed out that the production base for all sectors, if they work according to the plans set for them, will inevitably achieve diversification in the sources of Iraqi national income, contributing in influential proportions to the gross domestic product and thus eliminating dependence on oil and gas as the sole source of Iraqi income. The project will also provide, during the implementation stages, job opportunities amounting to 100,000. Job opportunities at the end of the first phase, 400,000 at the end of the second phase, and approximately one million job opportunities upon completion of the last phase.
Al-Rayes stated that the cost of the project is 17 billion dollars, which is the cost of high-speed electric trains, the construction of railways and highways, in addition to the construction of economic cities. As for financing these costs, three options have been developed. The first is government transfer to the countries participating in the project, or through partnerships between the government and the private sector, or from Through international companies with local Iraqi companies.
He stressed that the project provides travel services for about 10 million passengers annually and a storage and transportation capacity from Al-Faw port for about 22 million tons annually. Upon completion of the project, Iraq will turn into a basic station for global trade and an important transportation station between the Arab Gulf countries and the countries of Southeast Asia with the European countries, as it will reduce The time of sea transportation is from 35 to 25 days. He pointed out that the project will act as an engine for the performance of the productive and service sectors within the project and produce opportunities for foreign direct investment in a way that enhances common interests and strengthens political and economic partnerships. The project is not only limited to providing job opportunities for the unemployed labor sector, but will An engine for developing technical and technological skills among young people and an incentive to enter the world of innovation and creativity, ensuring that they continue to acquire skills and thus continuous progress and success.
He explained that estimates indicate that the project will achieve annual profits of about $4 billion, and in light of the progress of work on the project projects during the coming years, it is expected that the level of the annual financial and credit assessment of Iraq, which is conducted by the independent and internationally known rating agencies, namely Fitch Ratings, Standard & Poor’s, and Moody’s, will increase, which it relies on. Global financial institutions must direct their investments towards countries that are making progress in the internationally approved credit rating rates, as Standard & Poor's agency classifies Iraq at (B-/B) with a stable outlook in its report issued on 9/5/2023, and this cannot be considered Global classification.
He pointed out that the project has attracted the interest of several countries, including China, the owner of the Silk Road Project, which it initiated in 2014, as its ambassador to Iraq stated that the development road is an extension of the Silk Road Project. India has also expressed its interest, as it is the owner of the Indian Economic Corridor to Europe via the Arabian Gulf, and has announced Its desire to benefit from the development path, at a time when the representative of the World Bank announced that the development path will increase the interconnection between Iraq and the countries of the region and that the project will significantly reduce environmental pollution emissions. He stressed that the bank is committed to supporting Iraq in modernizing infrastructure and creating job opportunities.
Regarding the challenges, Al-Rayes said: There is a difference in views towards this project, as Iraqi political parties are directing accusations that the project serves foreign countries and deprives the Iraqi people of the country’s resources. Although these trends come from individuals who do not have the economic, financial and technical expertise to evaluate the economic feasibility of the project, but This difference remains controversial.
[You must be registered and logged in to see this link.]
Today at 3:32 pm by Rocky
» The Minister of Oil sponsors the signing of an agreement to develop the Tuba oil field project with
Today at 3:26 pm by Rocky
» In numbers... Basra Oil explains the importance of the Tuba field after signing a contract to develo
Today at 3:25 pm by Rocky
» Electricity: The government provides energy at subsidized prices for (4) categories
Today at 3:24 pm by Rocky
» The electricity produced in Iraq covers 65% of demand... and 15 thousand megawatts is a “deficit”
Today at 3:22 pm by Rocky
» Parliamentary services: Government interest in Baghdad will make it one of the most beautiful capita
Today at 3:21 pm by Rocky
» Basra Council emphasizes work to qualify young people and place them in the labor market
Today at 3:19 pm by Rocky
» Politician: Al-Kadhimi was recommending that Plasschaert write “negative” reports about Iraq
Today at 3:17 pm by Rocky
» Trade launches operations to lift the ban on the ration card next to Rusafa
Today at 3:16 pm by Rocky
» utube 5/12/24 Iraqi Dinar | Citi Bank Announced New Rate Of The Iraqi Dinar | Dinar News Today 202
Today at 7:00 am by Rocky
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
Today at 6:57 am by Rocky
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
Today at 6:55 am by Rocky
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
Today at 6:49 am by Rocky
» In numbers: the rise in internal debt in Iraq
Today at 6:49 am by Rocky
» Jordan demands that Iraq continue to export oil for another three months
Today at 6:46 am by Rocky
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
Today at 6:44 am by Rocky
» Close to the coordination framework: There is no intention to change the internal regulations of Par
Today at 6:43 am by Rocky
» Central Bank sales exceed $274 million today
Today at 6:41 am by Rocky
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
Today at 6:38 am by Rocky
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
Today at 6:36 am by Rocky
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
Today at 6:34 am by Rocky
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
Today at 5:31 am by Rocky
» A deputy reveals the contents of the first water strategy in Iraq
Today at 5:29 am by Rocky
» Soon...the second reading of the proposed red card law
Today at 5:28 am by Rocky
» The discovery of 10 new oil and gas fields in the Anbar desert
Today at 5:27 am by Rocky
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
Today at 5:26 am by Rocky
» Parliamentary Finance explains the mechanism for amending the retirement law
Today at 5:24 am by Rocky
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament
Today at 5:23 am by Rocky
» Parliamentary Agriculture accuses Kurdistan of harming the farmers of the center and south
Today at 5:22 am by Rocky
» Al-Sudani confirms Iraq's readiness to host the Arab Network conference
Today at 5:21 am by Rocky
» Nechirvan Barzani calls on the Iraqi government to allocate a budget to confront climate change
Today at 5:20 am by Rocky
» “Iraq is in danger.” Political warnings against ending the work of the UN mission
Today at 5:19 am by Rocky
» The Iraqi Interior Minister announces the signing of a security cooperation memorandum with Syria
Today at 5:17 am by Rocky
» The Minister of Oil told “Al-Iqtisad News”: The 5th and 6th rounds will add 3 Mqmq of gas to Iraq’s
Today at 5:16 am by Rocky
» Economist: Tax revenues from the private sector should be 4 trillion dinars annually
Today at 5:14 am by Rocky
» The Real Estate Bank calls on the Iraqi Central Bank to determine a plan to allocate a new initiativ
Today at 5:13 am by Rocky
» More than one billion and 400 million dollars...CBI sales within a week
Today at 5:12 am by Rocky
» Oil: Iraq achieved self-sufficiency in liquid gas and began exporting the surplus
Today at 5:10 am by Rocky
» Iraq begins exporting liquid gas
Today at 5:09 am by Rocky
» The Cabinet Secretariat sets to Al-Iqtisad News the completion date for the Chinese agreement school
Today at 5:09 am by Rocky
» Securities: The most recent law of the Authority in the Arab and regional countries
Today at 5:07 am by Rocky
» A European desire to strengthen security and economic cooperation with Baghdad
Today at 5:06 am by Rocky
» The close selection of a person for the position of Speaker of Parliament
Today at 5:05 am by Rocky
» Parliamentary law excludes the exchange of penalties for cash amounts
Today at 5:04 am by Rocky
» An agreement with Italy to finance industrial projects
Today at 5:02 am by Rocky
» The Najaf Chamber of Commerce signs a “memorandum of understanding” with its Thai counterpart
Today at 5:01 am by Rocky
» Baghdad, Arab Forum
Today at 5:00 am by Rocky
» Specialists: Economic integration and job opportunities await development
Today at 4:59 am by Rocky
» The President of the Republic, Nechirvan and Barzani stress the necessity of coordinating efforts be
Today at 4:57 am by Rocky
» The Judicial Institute announces the names of those accepted for the 48th and 49th sessions
Today at 4:56 am by Rocky
» Today's newspapers are interested in launching the fifth licensing supplement rounds and the sixth l
Today at 4:55 am by Rocky
» Al-Sudani receives the Secretary-General of the Arab Network for National Human Rights Institutions
Today at 4:53 am by Rocky
» Trade participates in the meetings of the Economic and Social Council at the level of senior officia
Today at 4:52 am by Rocky
» The Minister of Transport discusses with the Tunisian Minister of Foreign Affairs and Immigration wa
Today at 4:50 am by Rocky
» Iraq recorded an increase in its oil exports to the United States last week
Today at 4:49 am by Rocky
» It is governed by three dimensions.. Parliament talks about a strategic priority for Iraqi national
Today at 4:48 am by Rocky
» To what extent do Arab countries influence politically Iraq? It has become more independent
Today at 4:46 am by Rocky
» The Iranian ambassador in Baghdad: Iraq has paid its debts, and the security agreement includes thre
Today at 4:45 am by Rocky
» Dollar exchange rates decline slightly on the Baghdad Stock Exchange
Today at 4:44 am by Rocky
» China has 18% of the fields in the two new rounds, and 11 countries share the remainder
Today at 4:43 am by Rocky
» On the table...a proposal for the Kurdistan oil crisis and an effort to conclude a similar agreement
Today at 4:42 am by Rocky
» Al-Awadi: A government decision to provide sovereign guarantees and guarantees to encourage the inve
Today at 4:40 am by Rocky
» 6 Chinese companies are among the winners of developing Iraqi oil and gas fields
Today at 4:38 am by Rocky
» Baghdad gives UNAMI the end of 2025 to leave the country after fiery briefings
Today at 4:37 am by Rocky
» Dhi Qar clarifies: The quarry burying radioactive materials is regular and does not pose a danger
Today at 4:36 am by Rocky
» Al-Sudani: There are 64 lagging projects in Babylon
Today at 4:34 am by Rocky
» The housing crisis is expanding and planning confirms: Iraq needs 3 million housing units to solve i
Today at 4:34 am by Rocky
» 90 billion dinars were recovered from social protection violators
Today at 4:32 am by Rocky
» Iraq seeks to increase its oil reserves to more than 160 billion barrels
Today at 4:31 am by Rocky
» After keeping the numbers secret... Did the rain increase Iraq's water reserves by 120%?
Today at 4:30 am by Rocky
» In the first quarter of 2024.. Iran will displace Iraq and become the second largest producer in OPE
Today at 4:28 am by Rocky
» Iraqi oil exports to Jordan stopped 20 days ago
Today at 4:27 am by Rocky
» Iraq and Syria sign a memorandum of security cooperation in several fields
Today at 4:25 am by Rocky
» Parliament recommends stopping electronic schools in Iraq
Today at 4:24 am by Rocky
» Parliamentary law rules out passing a law replacing penalties with sums of money
Today at 4:22 am by Rocky
» After a rare meeting... sources talk about Al-Sadr's future in political life in Iraq
Today at 4:21 am by Rocky
» The President of the Republic warns of climate change and its threat to food security and future gen
Today at 4:20 am by Rocky
» The Iranian ambassador to Iraq talks about negotiations for the withdrawal of American forces and Tu
Today at 4:19 am by Rocky
» Deputy: Iraq represents an important factor in the stability of the global oil market
Today at 4:16 am by Rocky
» Transportation: The Iraqi-Turkish technical committees continue to fulfill the requirements for impl
Today at 4:15 am by Rocky
» Economic: Raising the interest rate will reduce real estate prices
Yesterday at 7:20 am by Rocky
» Did Barzani agree in Tehran to end the presence of Iranian groups in Kurdistan? - urgent
Yesterday at 7:16 am by Rocky
» Al-Sudani: We are establishing a new situation for the global energy market through the Development
Yesterday at 7:14 am by Rocky
» Al-Sudani: The government program devoted a wide scope to the government’s vision for oil and gas in
Yesterday at 7:11 am by Rocky
» Al-Awadi: Ending the work of the UNAMI mission is consistent with the government’s vision in this fi
Yesterday at 7:10 am by Rocky
» MM&C Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and w
Yesterday at 5:24 am by Rocky
» The Secretary of the Ministry of Defense meets with the Commander of the NATO mission
Yesterday at 5:17 am by Rocky
» Expert: The stability of the economy is linked to the political situation
Yesterday at 5:13 am by Rocky
» A parliamentary request to lift the injustice against 20,000 Iraqi employees
Yesterday at 5:09 am by Rocky
» Parliamentary Finance criticizes the government's failure to send the budget schedules
Yesterday at 5:08 am by Rocky
» Minister of Oil: The 5th and 6th licensing rounds will take place within the framework of exploratio
Yesterday at 5:07 am by Rocky
» Al-Sudani: Iraq is a difficult number in the global market in the field of energy
Yesterday at 5:06 am by Rocky
» Al-Khanjar rejects Al-Halbousi’s request to head Parliament
Yesterday at 5:05 am by Rocky
» Revealing the date of the arrival of the 2024 budget schedules
Yesterday at 5:04 am by Rocky
» Al-Halbousi nominates Talal Al-Zubaie for presidency of the House of Representatives
Yesterday at 5:03 am by Rocky
» "A coup in Iraqi universities"... Replacement of presidents and deans under the new education law
Yesterday at 5:01 am by Rocky
» Al-Sudani: Iraq is a difficult number in the equation of energy and oil wealth in the region and the
Yesterday at 5:00 am by Rocky
» Minister of Oil: We hope to announce an increase in Iraq’s oil reserves to 160 billion barrels
Yesterday at 4:58 am by Rocky
» Iraq's mass graves...stories that did not end with the burial of their owners, and the "legacy of IS
Yesterday at 4:57 am by Rocky