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Riyadh Forum.. a new station for attracting investments and expanding partnerships
Economical 04/30/2024
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A few days away from the positive results achieved by the Prime Minister, Muhammad Shiaa Al-Sudani, during his visit to Washington and the conclusion of dozens of memorandums of understanding and joint agreements with major American companies in various fields, those concerned with economic affairs hope that the Prime Minister will continue his international efforts to achieve more agreements. During his participation in the World Economic Forum held in Riyadh, putting at the forefront of these agreements the effort to attract foreign investments, which represent the basic foundation for developing the economy, especially in light of the progress made in the development road project.
Experts and specialists in economic affairs also see the Riyadh Forum as a great opportunity to strengthen Iraq’s international relations and expand the circle of partnerships with countries and international companies, in addition to its strategic importance in presenting the economic efforts and reforms undertaken by the government.
Iraq, according to government spokesman Bassem Al-Awadi, will focus during the forum, which carried the slogan “International Cooperation, Growth, and Energy for Development,” on a number of important files, including “the path to development,” as it is the truest expression of the forum’s title (International Cooperation, Growth, and Energy for Development). )” explaining that “the development road will be a roadmap for cooperation between East and West, and a major qualitative development leap in the region, and it is qualified to be the best way to transport energy in the future.”
Despite the assurances that the Prime Minister likely achieved important results during his participation in the global forum, the professor of international economics, expert Dr. Nawar Al-Saadi, believes that these results lie in the fact that the forum is an important opportunity for Iraq to display its economic and investment capabilities before an international audience of political leaders, businessmen, and investors. .
The expert Al-Saadi pointed out, during his speech to “Al-Sabah,” that “the Sudanese’s participation in the World Economic Forum in Riyadh represents a vital and strategic step for Iraq in strengthening its position on the international scene and also attracting foreign investments,” stressing that “the importance of participation in this forum bears several aspects, The most prominent of which is the possibility of attracting foreign investments, as it is the basic foundation for developing the economy of any country and achieving sustainable prosperity.” Al-Saadi also explained that “the opportunity is now ripe thanks to security stability, which inevitably leads to improving the investment environment,” expecting that Iraq will be able to attract large investments, especially after talking about development and the completion of the first phase of the large Al-Faw port next year, noting. At the same time, Al-Sudani’s successful participation in the Washington discussions could be enhanced during the Riyadh Forum, which represents an opportunity to strengthen Iraq’s international relations and expand the circle of partnerships with foreign countries and companies through interaction with government officials, businessmen and investors, pointing out that positive international relations can It enhances bilateral and multilateral cooperation in various fields, which contributes to strengthening the national economy and achieving sustainable development.
The professor of international economics stated that “occasions like this are an opportunity that allows Iraq to showcase the economic efforts and reforms undertaken by the government, especially in the investment environment and promoting economic growth,” stressing the need to “take advantage of such important forums to provide a comprehensive overview of the structural reforms and new decisions that contributed to Making Iraq a preferred and reliable investment destination in the region.”
In turn, the economic expert, Dr. Ali Daadoush, pointed out that “Iraq is one of the countries most affected by climate change, and this is clearly observed in terms of desertification and low water levels affected by the high and prolonged summer temperatures, in addition to the environmental pollution that has affected most of the country’s cities.”
Speaking to Al-Sabah, Daadoush explained that these global forums must be used to raise these points related to climate impacts in Iraq, and work to present them to global public opinion with the aim of allocating sums of money from the Green Climate Fund in order to confront the challenges and be consistent with carbon reduction. Daadoush stated that Iraq loses huge sums of money annually due to importing gas, so requesting support for the transition towards a green economy is sufficient to achieve large sums for the budget. We also believe that the transport sector has great economic value in achieving carbon reduction through working on an electric road project for large buses that It relies on renewable energy as well as modernizing or rebuilding large commercial markets that use electricity generated from renewable energy through solar cells, indicating that these steps have a significant impact in increasing real economic growth as well as the trend towards agriculture based on modern technology that is not affected by change. climatic.
Expert Daadoush believes that these economic transformations, especially related to reducing gas imports and shifting towards a green economy, have a vital role in reducing the deficit, indicating that the Riyadh Forum is an important station for attracting international companies in various specializations, and a strategic point for strengthening Iraq’s economic relations with various countries of the world.
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