Al-Sudani: Iraq and the world must prepare for what will happen after 2028

Al-Sudani: Iraq and the world must prepare for what will happen after 2028

2023-06-14 06:53

Al-Sudani - Iraq and the world must prepare for what will happen after 2028Shafaq News/ The Prime Minister, Muhammad Shia’ al-Sudani, affirmed that Iraq will not remain dependent on oil, at a time when he pointed out that there are “ready-made alternatives” after the year 2028. He considered the Iraqi political experience “non-existent” in the region.

Al-Sudani said, during his meeting with the delegation of the Iraqi-American Business Council, headed by the council’s president, Vice President of the American Chamber of Commerce for Middle East Affairs, Steve Lotus, that Iraq is qualified to be an attractive environment for the private sector and foreign companies, according to a statement received by Shafaq News agency.

Al-Sudani affirmed that the government had taken a series of decisions to simplify procedures for investors, and work to address existing problems in this field.

He pointed out that Iraq enjoys security, political and social stability, and is qualified today more than ever to be an attractive environment for investment and foreign companies.

And he indicated that Iraq has a real chance of success, and there is no alternative to peaceful coexistence and support for the state and its institutions.

He described the Iraqi experience as “non-existent” in the region at the level of local and parliamentary electoral representation, which indicates the vitality of the democratic system.

Al-Sudani pointed out that the government is aware of the size of the heavy legacy that began since the war of the eighties of the last century and caused negative effects in most sectors, so it has set five priorities in its program that it is working to achieve.

“Iraq cannot remain dependent on oil, as the world is turning today to oil alternatives that will be ready after 2028,” he stressed.

“The countries of the world are spending billions of dollars for oil alternatives, especially after the war in Ukraine, and oil-dependent countries must prepare for alternatives,” he added.

Al-Sudani explained that Iraq has natural resources that have not been invested, and it is qualified to be an agricultural and industrial country due to its strategic location.

He stressed that “the private sector is our real partner to achieve our vision, reduce time and find solutions to problems.”

And he announced “starting to invest in the burned gas sector, which costs us $4 billion annually,” noting that “the Total agreement is one of the most important gas investment agreements and the development of oil fields, which will provide half of our gas needs.”

He also pointed out that “there are contracts with Chinese and Emirati companies that will provide us with half of the gas we import.”

“We are preparing to announce the sixth round of gas fields, which is happening for the first time in Iraq, in terms of natural gas investment,” he said.

And he indicated that “investing in these projects will provide us with important financial returns that will be employed in various sectors, and we will avoid the climate effects resulting from gas flaring.”

Al-Sudani stressed that “Iraq is keen on the presence of American companies in Iraq.”

He concluded by saying, “The Ministerial Council for the Economy includes representatives from the private sector who participate with the government in formulating decisions and procedures that would facilitate the work of investors in Iraq.”