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[size=36]The government allocates $100 billion to support strategic projects[/size]
economy | 07:50 - 09/12/2024
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Mawazine News - Baghdad
The Undersecretary of the Ministry of Foreign Affairs for Bilateral Relations, Mohammed Hussein Bahr Al-Uloom, stressed today, Monday, the importance of strengthening bilateral relations between Iraq and Greece, noting that the government has allocated a budget estimated at $ 100 billion to support major strategic projects over 3 years.
Bahr Al-Uloom said during his speech at the Iraqi-Greek Forum in the capital, Baghdad, followed by "Mawazine News": "I am honored to welcome you to this Iraqi-Greek forum, which represents a milestone in the path of relations between our two friendly countries," indicating that "organizing 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 a fruitful partnership that serves the interests of the two peoples."
He pointed out that "Iraqi-Greek relations are not new, but rather extend back to the thirties of the last century, when Greek companies played an important role in the renaissance of Iraq, especially in the fields of infrastructure."
Bahr Al-Uloom stressed that "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."
He explained that "the visit of the Greek delegation is a prominent station to strengthen bilateral relations in the economic field," noting 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 tangible projects that benefit both countries."
Bahr Al-Uloom stressed that "Iraq believes in the importance of real partnerships that are built on the basis of common interests, and we look forward to benefiting from the expertise of Greek companies and their pioneering trade."
Bahr Al-Uloom highlighted the ambitious vision of the 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. He explained that “the government has launched initiatives, including the Iraqi Development Fund to attract foreign investments in cooperation with prestigious international funds, in addition to providing sovereign guarantees to support the private sector in implementing these projects.”
He pointed out that “the government has allocated a budget estimated at $100 billion over three years to implement major infrastructure projects, and this is a suitable ground for the participation of Greek companies,” noting that “the government is proceeding with the strategic development road project that links the East and West at the lowest cost and establishes new economic cities in Iraq.”
Bahr Al-Uloom explained that “the government plans to build one million new housing units, which provides wide areas for international companies, in addition to opportunities in the energy sector, as Iraq produces 4 million barrels of oil per day and ranks third in production. It also has large gas reserves, and aims to develop its production in this field over the next five years.”
Bahr Al-Uloom stressed that “Iraq seeks to develop the pharmaceutical and food industries with annual needs It exceeds 3 billion dollars," noting that "Iraq, thanks to its security stability and economic vision, is a reliable strategic partner for Greek companies."
Bahr Al-Uloom said during his speech at the Iraqi-Greek Forum in the capital, Baghdad, followed by "Mawazine News": "I am honored to welcome you to this Iraqi-Greek forum, which represents a milestone in the path of relations between our two friendly countries," indicating that "organizing 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 a fruitful partnership that serves the interests of the two peoples."
He pointed out that "Iraqi-Greek relations are not new, but rather extend back to the thirties of the last century, when Greek companies played an important role in the renaissance of Iraq, especially in the fields of infrastructure."
Bahr Al-Uloom stressed that "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."
He explained that "the visit of the Greek delegation is a prominent station to strengthen bilateral relations in the economic field," noting 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 tangible projects that benefit both countries."
Bahr Al-Uloom stressed that "Iraq believes in the importance of real partnerships that are built on the basis of common interests, and we look forward to benefiting from the expertise of Greek companies and their pioneering trade."
Bahr Al-Uloom highlighted the ambitious vision of the 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. He explained that “the government has launched initiatives, including the Iraqi Development Fund to attract foreign investments in cooperation with prestigious international funds, in addition to providing sovereign guarantees to support the private sector in implementing these projects.”
He pointed out that “the government has allocated a budget estimated at $100 billion over three years to implement major infrastructure projects, and this is a suitable ground for the participation of Greek companies,” noting that “the government is proceeding with the strategic development road project that links the East and West at the lowest cost and establishes new economic cities in Iraq.”
Bahr Al-Uloom explained that “the government plans to build one million new housing units, which provides wide areas for international companies, in addition to opportunities in the energy sector, as Iraq produces 4 million barrels of oil per day and ranks third in production. It also has large gas reserves, and aims to develop its production in this field over the next five years.”
Bahr Al-Uloom stressed that “Iraq seeks to develop the pharmaceutical and food industries with annual needs It exceeds 3 billion dollars," noting that "Iraq, thanks to its security stability and economic vision, is a reliable strategic partner for Greek companies."
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