Iraq’s private sector is projected to invest nearly US $65bn during the 2024-2028 development plan, which prioritises infrastructure projects, as revealed by the planning ministry.

Ministry spokesperson Abdul Zahra al-Hindawi stated that the ministry is actively working to implement a diverse range of projects and programs aimed at enhancing services, diversifying the economy, and alleviating poverty and unemployment, with the invaluable support of the private sector.

“The projects focus on several key sectors, mainly infrastructure projects encompassing water, sewage, roads, electricity, energy, gas, housing and reconstruction, municipal services, health, education, food security, agriculture, transportation, and communications, as well as economic projects that support economic diversification and reduce dependence on oil,” he told the official Iraqi News Agency (INA).

“The plan also includes completing major strategic projects with developmental and service-oriented impacts, such as the Development Road project and the Grand Faw Port project. The volume of private sector investments within the 5-year plan amounts to $65bn, representing about 35% of the total planned investments,” he concluded.