The Iraq Development Fund has identified investment opportunities worth $40 billion in goods currently imported into the country that could instead be produced domestically.Mohammed al-Najjar, head of the fund, told the state-run Iraqi News Agency (INA) that Iraq's annual import bill provides a measure of the scale of the opportunity, with the country currently importing the majority of its needs. He said that converting a significant portion of those imports into local manufacturing, supported by international investment, would reduce the import burden, create jobs, and drive genuine economic development.Al-Najjar noted that the fund's capital is intended for investment rather than budgetary expenditure, with returns to be reinvested in further projects. He described the fund as a key tool for building an alternative economy, particularly given the absence of an approved budget for this year, the impact of regional conflict, and the halt in oil exports. (ICE AMMAN)

Fonte notizia: Stampa Locale