Iraq joins the World Federation of Free Economic Zones (FEMOZA).
Iraq joins the World Federation of Free Economic Zones (FEMOZA).
2024-03-21 01:24
Shafaq News/ The Industrial Estates Authority, one of the formations of the Iraqi Ministry of Industry and Minerals, announced on Thursday its joining the World Federation of Free Economic Zones (FEMOZA) in cooperation with the United Nations Industrial Development Organization (UNIDO).
The Director General of the Authority, Hamid Awad Muhammad, explained in a statement that the Authority is a vital entity charged with advancing the industrial cities and their prosperity throughout Iraq, indicating that the joining came due to the importance of international partnerships in achieving the objectives of the Authority in light of economic changes and the movement of markets, shipping lines, and global land and railway transport, and in order to Interact with it professionally, taking advantage of Iraq’s strategic geographical location.
He pointed out that the FEMOZA organization is considered an internationally known union committed to promoting sustainable economic zones and has links with (200) countries in the world.
The Director of the Authority added that this affiliation confirms the objectives of the Industrial Estates Authority in creating an environment conducive to investment, innovation and economic diversification by benefiting from the organization and its global network, as well as attracting foreign investment to Iraq and enhancing the Authority’s ability to establish and manage industrial zones that help in sustainable development and international business participation. Accelerating industrial growth within Iraq by benefiting from the expertise of specialized international organizations.
shafaq.com
