Iraq Economic News and Points To ponder Wednesday Evening 6-26-24
Iraq Economic News and Points To ponder Wednesday Evening 6-26-24
Experts: The Path To Development Is The Beginning Of An Economic Partnership
Economical 06/26/2024 Baghdad: Shukran Al-Fatlawi Economic affairs specialists believe that the “development path” represents a qualitative shift in the Iraqi economy and the beginning of a new and important phase, which
qualifies it to be the main point of contact in the issues of trade linkage between the East and West, the Gulf and Europe, in addition to its
strategic and developmental importance and its role in
eliminating unemployment, reviving the labor market and
activating... The wheel of industry.
During the “Development Road” conference organized by Iraq last year,
which witnessed broad international participation that expressed its real desire to participate in the Iraqi strategic project, Prime Minister Muhammad Shia’ al-Sudani affirmed that the “Development Road,” which
extends from the far south of Iraq to Turkey, is an ambitious and thoughtful plan to change... The reality
is towards a solid economic structure, and that the project, with its work platforms,
added value to national and local products, and economic levers, is a
pillar of the sustainable non-oil economy, and a
link that serves Iraq’s neighbors and the region. He added that
Iraq will launch this promising project towards an economic partnership with neighboring countries and the region, which will make Iraq a source of modern industries and goods, and all of this will rely on multimodal corridors, more than 1,200 km of railways, their joint interoperability, and highways.
The Director General of the General Railway Company of the Ministry of Transport, Younis Al-Kaabi, confirmed in a press statement that
“the development road is proceeding at a confident pace, and that
the Supreme Committee discussed in its last meeting the latest developments in the project, as the percentage of railway designs exceeded 76% and the
highway reached approximately 68%, and soil and topographic surveys exceeded 90%.” He stressed that
"the project is receiving international attention, as all countries have a desire to be part, participate or support the project," noting that
"large, reputable international companies have expressed their willingness to work on the project, and this gives more reliability that the project is capable of success."
Economist Dr. Adnan Bahia pointed out in an interview with “Al-Sabah” that
the importance of Iraq lies in its geographical location, a direct link between the Arabian Gulf, Turkey, and then Europe, which qualifies it to be the main and important focal point in issues of commercial connectivity and transit, as well as trade.
He crossed the seas between East and West, thus placing him in the experience of international trade between East and West, the Gulf and Europe. He continued that
after China launched the “Belt and Road” initiative, dozens of countries joined the agreement that revives trade between East and West,
indicating that the “Belt and Road” initiative includes the maritime line represented by trade through ports in the Arabian Sea, the Arabian Gulf and other seas, in addition to land routes. spread in East Asia, then the Middle East towards Europe, expressing his regret that Iraq, for many ill-considered reasons, turned away from this path and did not join the Chinese initiative.
Bahiya considered Iraq’s establishment of an alternative road to the “Belt and Road Initiative,” which is the “development road,” an important initiative, as it links the Arabian Gulf on which it is currently located, and the large Al-Faw port, in which work has reached advanced stages, pointing to the completion of its first phase, which contains Five berths,
in addition to the berths of Umm Qasr Port, Khor Abdullah Port and Al-Zubair Port, all of which are ports that make the country distinguished by the ability to accommodate large ships and deliver goods from the sea to Al-Faw and then to Europe.
He noted the importance of having a new private road with a high capacity to contain large quantities of international trade and unload shipments from ships, and then send them overland to Europe through the “development road” that connects the port of Al-Faw and western Iraq towards the Fish Khabour area on the border between Iraq and Turkey. Close to the Syrian border, then entering Turkey and then to Europe.
For her part, the researcher in economic affairs, Suhad Al-Shammari, in an interview with Al-Sabah, described the “development path” as a qualitative shift in the Iraqi economy, and a new beginning for an important stage, as it brings together important regional partnerships that create common ground that protects interests and develops and maintains relations with neighboring countries.
Al-Shammari added that the development road plays a role in resolving problems and confronting conflicts, as
it is a comprehensive project that starts from the port of Al-Faw and passes through many Iraqi governorates, in addition to transporting passengers and goods more widely and in a shorter time and addresses many problems related to vital sectors in Iraq, stressing that
The strategic project represents Iraq's return to the global platform with a strong economy and expanded investment projects. https://alsabaah.iq/98526-.html
Integrated Projects
Economical 06/26/2024 Walid Khaled Al-Zaidi There is no disagreement about the utmost importance of the issue of integration in implementing development projects and the degree of interconnection between them so that the results are broader in scope, more useful, and of better quality, so that the quality and level of integration become comprehensive and not partial in the form of harmony and interaction in the process that reaches the point of strategic production so that its form has long-term results and is based on implementation.
Multiple projects, such as investing in oil and gas fields and linking them to petrochemical industry projects, and then going further to produce clean energy (for example).
As a matter of objectivity, it must be said that the integrated projects in the field of oil are the most prominent things that can be pushed to be the best examples of this issue,
because oil as a raw material is a necessary raw material for the production of other manufactured materials, as well as gas, some of which is associated with this crude during the extraction operations from The interior of the earth, whether at the level of wells or various fields, as the process of expansion of integration models in oil projects represents a prominent feature because it is a clear and multifaceted indicator of the ability of each country to adopt these projects for development, growth and economic advancement.
Several countries have presented pioneering models in benefiting from the expansion Its projects include extraction stages and then derivation of other materials, leading to the production of materials different from the originally extracted primary material.
Those who follow the situation in Iraq in the field of oil and other mineral resources see an abundance of possibilities for directing the Iraqi economy towards implementing projects with integrated stages, and although this matter requires advanced technology and accumulated experience that makes a difference in production and accommodates various projects,
but those in charge of the Iraqi economy in general and the oil field In particular, they realized the concept of integration in business management and the diversity of its production.
There is no doubt that the focus at the present time is moving towards expanding projects to take advantage of their advantages in product diversity and increasing its activity through additional stages, methods and other complementary processes that can be called project integration and
the addition of new products from The same raw material for what was produced before, which is what the government has currently directed to push towards implementing integrated work in the energy sector and providing means of export for manufactured products to include developing oil and gas fields and linking them to petrochemical projects, clean energy and other materials, and through activating the Al-Faw refinery project as its first stage.
The Al-Faw refinery project will provide means of exporting petroleum products, linked to the petrochemical industries project and a storage project, in addition to many projects that could be complementary and implemented by the Ministry of Oil in multiple regions of the country that have the elements for successful implementation in the governorates of Basra, Maysan, and Dhi Qar.
These projects and others will have a significant impact in achieving Qualitative development and renaissance in the reality of the oil industry and all industries related to it on a broad national scale, based on effective evaluation and productive exchange between the basic units inside Iraq,
in a way that can clearly work on a set of economic measures and transfers, creating close links for promising development, and operating a package of interconnected projects and successive production cycles. To benefit from resources and expand the framework of the benefits of the national economy.
https://alsabaah.iq/98527-.html
To read more current and reliable Iraqi news please visit : https://www.bondladyscorner.com/]
Provoking Thoughts and Points To Ponder On Adversity:
When I was very young, I tried selling used cars. It didn't last long. I guess that was my good luck too, that I didn't show more promise at it, or I might have been an automobile dealer. - King Vidor
Supporting myself at an early age was the best training for life I could have possibly received. - Lea Thompson
In my youth, poverty enriched me, but now I can afford wealth. - Marc Chagall
I'm very grateful that I was too poor to get to art school until I was 21. ... I was old enough when I got there to know how to get something out of it. - Henry Moore
The most valuable gift I ever received was ... the gift of insecurity ... my father left us. My mother's love might not have prepared me for life the way my father's departure did. He forced us out on the road, where we had to earn our bread. - Lillian Gish
http://famousquotesandauthors.com/topics/adversity_quotes.html