By John Lee.
The Chairman of Iraq's National Investment Commission (NIC), Dr. Haider Mohammed Makiyya, held a meeting with Adham Al-Fakhar, Chairman of the Iraqi-French Business Council, and its members to discuss promising strategic investment projects.
Dr. Makiyya emphasized the NIC's commitment to advancing a forward-looking investment policy that prioritizes innovative projects to strengthen Iraq's economy and reduce dependence on oil. This approach aligns with the global shift toward alternative economies.
Key Topics Discussed:
- Silica Sand Project:
The NIC, in collaboration with the Ministry of Industry and Minerals, is conducting a feasibility study for this project. Iraq possesses high-purity silica sand (98%) in provinces such as Najaf, Karbala, and Anbar. With a global market valued at $610 billion annually, this resource offers significant economic potential. - Solar Energy Project:
A 1,000 MW solar power initiative was highlighted as part of Iraq's efforts to diversify its energy sources and promote renewable energy. - Waste-to-Energy Project:
A project for waste management and electricity generation is nearing the final stages before being awarded. This initiative aligns with global sustainability trends. - Fiber Optic Cable Project:
Positioned as a gateway to global e-commerce, this project is projected to generate $1.15 billion in net annual revenue per cable, leveraging Iraq's strategic geographic location.
Proposals from the Iraqi-French Business Council
Adham Al-Fakhar and council members suggested expanding investment collaboration between Iraq and France. They emphasized aligning with the strategic partnership agreement signed between the two nations, which aims to enhance economic ties and create mutual opportunities for Iraqi and French businesses.
Dr. Makiyya underscored the importance of these initiatives in achieving sustainable economic growth and reaffirmed the NIC's readiness to collaborate with international partners to realize these ambitious goals.
(Source: NIC)
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