Distribution of investment opportunities for the development path
Distribution of investment opportunities for the development path
2025/10/05
Baghdad is preparing to host the quadripartite ministerial meeting for the Development Road Project, to discuss financing mechanisms and the distribution of investment opportunities across six strategic sectors, including agriculture, industry, trade, tourism, and energy, in addition to the telecommunications sector. Director of the Ministry of Transport’s media office, Maitham Al-Safi, told Al-Sabah that the ministry has completed the procedures for holding the meeting, which includes Turkey, the UAE, Qatar, and Iraq. He pointed out that the meeting comes after the Quadripartite Council summit, with the participation of technical committees, the Minister of Transport, and representatives from Oliver Wyman and BTP, to make decisions related to the project’s implementation.
Al-Safi added that the project includes the construction of a double track with a length of (1200) km, with train speeds reaching (300) km/hour for passengers and (140) km/hour for goods, which enhances Iraq’s strategic position as a link between the Arabian Gulf, the Far East and Europe.
He pointed out that the Cabinet has established an independent body to simplify investment procedures and overcome challenges, contributing to achieving completion rates consistent with timetables. The relevant authorities and local governments are also closely monitoring the resolution of conflicts and acquiring the lands necessary for the railway line.
alsabaah.iq
