Iraq Unveils Ambitious Projects to Diversify Economy and Boost Revenue
The National Investment Commission of Iraq has announced a series of new projects aimed at generating over $150 billion in annual revenue and attracting $63 billion in foreign investment. These initiatives mark a significant effort to diversify the country's economy and reduce its dependence on oil.
Hanan Jassim, the official spokesperson for the commission, highlighted that these achievements are unprecedented in Iraq's recent economic history. The projects span various sectors, including waste management, renewable energy, and technology, and are expected to create substantial non-oil revenues.
Key projects include:
1. Waste Processing and Electricity Generation: A partnership with Shanghai Company to process 3,000 tons of solid waste daily and generate 100 megawatts of electricity.
2. E-Development Highway: A fiber-optic cable and data center project expected to support the state budget by $12 billion annually, along with a new oil export system through the Mediterranean Sea.
3. Silica Sand Investment: Feasibility studies are underway for investing in high-purity silica sand, crucial for the semiconductor industry, with potential annual contributions of up to $100 billion.
4. Wind Energy Project: Iraq's first 500-megawatt wind energy project is in the planning stages.
5. Innovative Patents: The commission is exploring patents to transform desert lands into green areas, enhancing food and environmental security.
These projects reflect Iraq's commitment to economic diversification and sustainable development, aiming to create a more resilient and prosperous future.
@MelaniastasiaRomanov✅