Al-Sudani reviews the government's development road project and its economic impact

Baghdad - INA

Prime Minister Mohammed Shia Al-Sudani confirmed today, Saturday, that the development road project will transform Iraq into an open country, while indicating that the project needs 5 years to complete.

Al-Sudani said during a dialogue seminar on the development road and available investment opportunities - followed by the Iraqi News Agency (INA): "Iraq relies on oil as the only source to cover its expenses, which have begun to increase," noting that "it is necessary to think correctly to activate sectors that support oil."

He added that "the development road project needs more study and clarification," explaining that "the government has begun to establish the development road project and implement it."
He stressed that "the development road project will transform Iraq into an open country," noting that "Iraq possesses natural materials that have not been exploited in industries."

He explained that "the government has approached the World Bank to start implementing the development road from Basra to Mosul," indicating that "the agreement with international companies is a positive indicator with international partnership."
He explained that "capital finds an opportunity in Iraq amid security and political stability," stressing that "Iraq is on the right track today." He

pointed out that "Iraq will enter the gas market after investing in several fields," noting that "Iraq is the best passage in the communications and optical cable file." He continued, "The government has concluded the Faw investment refinery contract and it has been activated." He added, "We will repeat the experience of the sixties and seventies to work in the private sector," noting that "the railway designs for the development road project have been fully completed."

He pointed out that "the third meeting of the Ministerial Council on the development road will be held next November," stressing that "the government has begun preparing a study on forming a body to manage the development road project." He stressed that "the government has carried out real reforms in the tax and banking system."

On the security side, the Prime Minister confirmed that "there is no spot on Iraqi territory outside the control of our security forces."
Regarding the private sector, the Prime Minister confirmed that "the private sector is bold, courageous and patient," while he indicated that "the development road project needs 5 years to complete."