Karbala:The head of the National Investment Commission, Adel Al-Yasseri, announced that Iraq is entering a new era with significant investment opportunities. Plans include laying the foundation for projects in Karbala, featuring 120,000 residential plots and housing units as part of the Million Plots Initiative, as well as the development of modern economic and industrial cities and a major media city in Baghdad.

According to the Iraqi News Agency, Al-Yasseri noted that Iraq’s economic approach is shifting. For the first time, an economist is leading the executive authority, marking a transition from a socialist to a private sector economy. This change emphasizes the economy’s role in guiding politics and state affairs.

He also highlighted amendments to the Investment Law, aimed at promoting foreign investment and removing obstacles for investors. The Commission is implementing a 100-day plan focused on transparency and attracting Arab, global, European, and American investments, moving towards quality rather than random investments.

The Million Plots and Million Housing Units Project is a key focus, with plans for one million residential plots and an equal number of housing units. In Karbala, work will soon commence on 60,000 residential plots and 60,000 housing units. The initiative, supported by various Iraqi companies, is expected to provide housing for over 10 million citizens. The project will progress across provinces, with some plots ready for distribution by next year.

Al-Yasseri emphasized the importance of modern city developments, aligning with the Prime Minister’s vision of investment as an economic doctrine.