Iraq to Build $250m Business Zone near Baghdad Airport

Kuwait News Agency (KUNA) reports that permission has been granted for a $250 million [300 billion Iraqi dinars] investment to build a business village near Baghdad international airport, provided that it is completed within 5 years. The agency quotes the ‘Iraqi Babylon Investment Authority’, which we believe to be the Baghdad Investment Commission.

Chairman of the commission, Shaker Al-Zameli, said in a statement to the press that they, “granted this investment permission in order to create a business area that attracts commmercial and services investment near Baghdad international airport,” adding that the town would also be a place where commodities could be stored and transferred within and outside Iraq.

A free duty zone would also be set up in the area, from which travelers and Iraqis can benefit, noted Zameli, affirming that the area would boost the Iraqi economy and create more jobs for Iraqis.

(Source: KUNA)

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