The Secretary-General of the Arab Chambers Federation, Khaled Hanafi, affirmed that Iraq is witnessing a positive transformation in its economic path, pointing out that the facilities provided for the entry of investors represent an important indicator of this transformation. He emphasized that the Iraqi economy is moving in the right direction, and that the Development Road project represents a strategic step to keep pace with the rapid changes in global trade movements.
Hanafi stated in a statement followed by the News Video Agency that "Iraq possesses human and knowledge capabilities that qualify it to achieve an economic and industrial renaissance," noting the "importance of establishing modern industrial cities to absorb Iraqi competencies and attract global companies, which contributes to diversifying the economy and providing new job opportunities."
He clarified that "there is noticeable Iraqi governmental interest in developing the private sector," affirming that "government support for this sector is a fundamental pillar to enhance economic activity and achieve sustainable development, alongside the necessity of adopting clear and concise economic laws that limit interpretation and provide a stable environment for investors."
Hanafi stressed that "the Iraqi Development Road project represents an important strategic step to keep pace with the ongoing changes in global trade, especially in light of geopolitical changes pushing countries and major companies to search for new supply chains that are shorter, safer, and more stable."
He pointed out that "the world is facing serious geopolitical challenges that have contributed to the decline of the traditional global supply chain concept, pushing towards the formation of a new trade system based on diversifying routes and building open economic partnerships and alliances, instead of relying on unilateral trade alliances."
He added that "these transformations open up important opportunities for Arab countries, particularly Iraq, to invest in their strategic geographical locations and create new trade corridors," affirming that "the time is right to turn crises, wars, and international tensions into economic and investment opportunities that enhance the Arab presence in global trade."
He noted that "the facilities for investor entry into Iraq represent an important indicator of economic openness," emphasizing that "attracting investments requires completing legislative reforms and providing an encouraging business environment, alongside investing in technology and developing human competencies as keys to unleashing an Arab industrial revolution."
He confirmed that "the world is witnessing the formation of a new economic and trade system, and the countries best able to read these transformations and build flexible international alliances and partnerships will have the best chances of achieving economic gains in the upcoming phase."
Regarding Arab economic integration, Hanafi explained that "reaching a unified Arab currency requires the establishment of a common Arab market, signing customs agreements, and expanding commercial cooperation among Arab countries, paving the way for more advanced steps toward monetary integration."
He stressed the "importance of accelerating the pace of economic transformation in Iraq, benefiting from its geographical location, human capacities, and strategic projects, to enhance its ability to play a pivotal role in regional and international trade."