During His Presidency of the Arab Development Summit, Al-Sudani Affirmed the Openness of the Investment Environment in Iraq to All Productive Partnerships
Baghdad/NINA/-Prime Minister, Mohammed Shia al-Sudani affirmed the openness of Iraq's investment environment to all productive partnerships.
In a speech during his presidency of the fifth Arab Economic and Social Development Summit, held in Baghdad today, al-Sudani said, "I extend my thanks to the Lebanese Republic for its presidency of the previous summit, and to the General Secretariat of the League of Arab States for its efforts in this field." He noted that the convening of the summit today in Baghdad is an opportunity to affirm our collective commitment to achieve the goals of sustainable development and enhancing integration.
He added, "Joint Arab action is the path to our advancement in a manner befitting our civilizational and historical standing," indicating that "this summit constitutes a strategic platform for consolidating Arab partnerships, activating development funds and mechanisms, and opening new horizons for women and youth, as well as for childcare."
He continued, "It is imperative to resume the momentum of development summits after their hiatus since the Beirut Summit in 2019, and to revitalize the follow-up and implementation mechanisms for the decisions of previous summits." He proposed establishing a "joint Arab mechanism to evaluate development performance across economic and social development indicators.
Al-Sudani emphasized the need to move toward investing in the "knowledge economy," given the opportunity for development it represents and the educational environment it provides capable of supporting entrepreneurship and innovation.
He pointed out that "in response to current challenges, our government has launched a package of economic and financial reforms, development projects, and vital infrastructure."
He emphasized the importance of supporting the education, healthcare, digital transformation, and private sector empowerment sectors, as well as focusing on developing the tourism sector, leading up to the launch of Iraq's five-year national development plan for 2024-2028.
Al-Sudani announced the launch of the "Arab Economic Reform Era for the Next Decade" initiative, which includes providing an integrated and shared investment environment for Arab investment, liberalizing trade, and establishing free trade zones. He indicated that this goal will be embraced through the strategic "Development Road" project, which connects the Grand Faw Port on the Gulf to Turkey, passing through to Europe.
He explained that "the vital development road project includes opportunities and potential for Iraq and the region, in addition to the industrial and investment cities along its path, and the corridor it represents that integrates with international transportation and energy networks.
He emphasized the openness of the investment environment in Iraq to all productive partnerships, indicating that the volume of Arab and foreign investments in Iraq has risen to approximately $89 billion. He added that "the invitation remains open to our brothers to contribute to the development road project and the accompanying opportunities."
He pointed to the launch of a group of initiatives under the umbrella of this development summit, namely: the Arab Initiative to Achieve Food Security from Grains, and the Baghdad Initiative to Enhance Arab Cooperation in Confronting Environmental Challenges and Climate Change.
He continued: "We are launching the Arab Initiative to Provide Safe Haven for Those Affected by Disasters and Risks and to Enhance Arab Housing Security, and a Comprehensive Initiative to Support Arab Countries to the Financial Action Task Force for the Middle East and North Africa and the Financial Intelligence Unit Group."
Al-Sudani announced the establishment of the Arab Center for Environmental Protection from War Remnants, the initiative to establish the Arab Center for Artificial Intelligence in Baghdad, and the establishment of the Arab Council for Popular and Cultural Communication among Arab Countries.
He continued: "We are launching the initiative for the Joint Arab Security Coordination Room, the establishment of the Arab Center for Combating Terrorism in Baghdad, the establishment of an Arab Coordination Center for Combating Drugs in Baghdad, and the establishment of the Arab Center for Combating Transnational Organized Crime, headquartered in Baghdad."
He said, "Iraq has proposed establishing the Council of Arab Trade Ministers as the coordinating and executive body responsible for monitoring Arab trade and achieving joint Arab responses to confront regional and international challenges."
He added, "We are pleased here to launch the Arab Solidarity Fund for the Reconstruction of Gaza and Lebanon initiative, under the supervision of the Arab League, and we will be the first contributors to it. These initiatives represent a roadmap that requires the cooperation of all, at the level of governments, the private sector, and civil society. There can be no security without development, and no development without true Arab economic integration."
He expressed his hope that this summit would be a turning point in the path of Arab development, and that we would turn its decisions into tangible steps on the ground, serving our peoples and the future of our generations./End
