Al-Sudani: The door is open for Kuwait to enter into development projects
Al-Sudani: The door is open for Kuwait to enter into development projects
2025-02-09 02:30
Shafaq News/ Prime Minister Mohammed Shia Al-Sudani called on Sunday on the State of Kuwait to invest in vital development road projects in Iraq.
This came during his meeting today in Baghdad with the Kuwaiti Ambassador to Iraq, Hassan Mohammed Al-Zaman.
Al-Sudani pointed out, according to a statement issued by his media office, the depth of relations between the two countries, and the importance of consolidating and expanding them at various levels and stages.
During the meeting, the Prime Minister stressed his aspiration to strengthen constructive bilateral cooperation in several fields, pointing to the available opportunities and the availability of an appropriate investment environment for the work of Arab and foreign companies, including Kuwaiti companies.
The statement quoted Al-Sudani as saying that the door is open for the State of Kuwait to enter into development projects and benefit from the announced investment opportunities, which contributes to strengthening economic integration and interconnected interests between the two countries.
In April 2024, Iraq, Turkey, the UAE, and Qatar signed a quadripartite agreement on the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdogan.
The agreement aims to enhance cooperation regarding the Iraq Strategic Development Path project, as the four countries will work to establish the necessary frameworks for implementing the project, according to a statement issued by the Prime Minister’s Office.
The strategic project of the development road is expected to contribute to stimulating economic growth and strengthening regional and international cooperation relations, as it will achieve economic integration and sustainability between the East and the West.
The project will also increase international trade, facilitate the movement of goods, provide a new competitive transportation route, and enhance regional economic prosperity.
It is worth noting that the “Development Road” project is a land and railway road extending from Iraq to Turkey and its ports. The length of the road and railway is 1,200 kilometers inside Iraq, and it aims primarily to transport goods between Europe and the Gulf countries.
The project’s investment budget amounts to about 17 billion US dollars, of which 6.5 billion is for the expressway, and 10.5 billion for the electric train. It will be completed in 3 phases, the first ending in 2028, the second in 2033, and the third in 2050.
The project is expected to provide about 100,000 job opportunities in the first phase, and one million job opportunities after its completion.
shafaq.com
