Al-Sudani: Iraq depends on oil as the only source to cover its expenses, which have begun to increase, and it is necessary to think about activating sectors that support it

Prime Minister Mohammed Shia al-Sudani stressed that Iraq relies on oil as the only source to cover its expenses, which have begun to increase. The Prime Minister said during his participation in a dialogue seminar on the development path and available investment opportunities that it is necessary to think correctly to activate sectors supporting oil. He added that: The development road project needs more study and clarification. He continued that "we have started establishing the development road project and implementing it," indicating that "the development road project will transform Iraq into an open country." The Prime Minister continued: We have natural materials that have not been exploited in industries. He added: We have approached the World Bank to start implementing the development road from Basra to Mosul, indicating that the agreement with international companies is a positive indicator with international partnership. Al-Sudani stressed that: Capital finds an opportunity in Iraq amid securi ty and political stability, indicating that Iraq is on the right path today. He said: Iraq will enter the gas market after investing in several fields. The Prime Minister continued that Iraq is the best corridor in the communications and optical cable file. He added that: We concluded the Faw investment refinery contract and it was activated. He said that we will repeat the experience of the sixties and seventies to work in the private sector. He explained that the railway designs for the development road project have been fully completed. He pointed out that the third meeting of the Ministerial Council on the development road will be held next November. The Prime Minister said: We have started preparing a study on forming an authority to manage the development road project. Source: National Iraqi News Agency