Baghdad: In a significant move to bolster economic ties, Iraqi Prime Minister Mohammed Shia Al-Sudani has agreed with the Egyptian Al-Suwaidi Group of Companies to explore the possibility of establishing industrial cities in Baghdad, focusing on sectors such as energy, education, and infrastructure.

According to National Iraqi News Agency, the agreement was discussed in a meeting held on Monday, where Prime Minister Al-Sudani met with Ahmed Al-Suwaidi, the Chairman of the Egyptian Al-Suwaidi Group, alongside directors from various Egyptian industrial and commercial enterprises. The session was also attended by advisors to the Prime Minister.

During the discussions, Prime Minister Al-Sudani emphasized the potential expansion of economic cooperation between Iraq and Egypt, particularly highlighting the role of the Egyptian private sector. He noted the investment opportunities currently available in Iraq, which have attracted interest from numerous Arab and foreign companies, amounting to over $100 billion. Th
ese opportunities, he stated, demonstrate Iraq’s capacity for economic growth across various sectors.

The meeting also covered strategic discussions on adopting the economic and financial model of the Al-Suwaidi Group, with a particular focus on maximizing petroleum resources, localizing industries such as the electrical transformer sector, and developing smart meters linked to the electrical grid. Additionally, the carbon iron and steel industry was highlighted as a key area for potential collaboration.

The establishment of industrial cities in Baghdad was a central topic, with the Al-Suwaidi Group presenting a detailed map of projects for further study by the advisory board and relevant sectoral bodies. This initiative is expected to enhance industrial development in the region and strengthen bilateral economic relationships.