Iraq unveiled the Toyota project in Baghdad, marking a turning point for foreign investment. Prime Minister Mohammed Shia Al-Sudani inaugurated the initiative and described it as a vital step for economic growth. He highlighted the cooperation between Iraq’s private sector and international firms like Toyota as a model for future investments.
Moreover, the Prime Minister praised the Japanese Ambassador for advancing bilateral ties. He underlined that this project reflects the strong relationship between Iraq and Japan. The government, he said, will continue to improve the business environment and remove barriers that discourage investors.
The Toyota project covers 225,000 square meters and involves two phases. The total investment reaches 30 billion dinars, equal to $23 million. The plan includes gradually transferring vehicle manufacturing and service technologies to Iraq. This move will boost skills, create job opportunities, and support national development strategies.
In addition, the Prime Minister stressed the importance of environmentally friendly projects. He emphasized that the Toyota project meets international climate standards and aims to reduce carbon emissions. The government wants projects that align with global climate goals while supporting reconstruction across the country.
Furthermore, Al-Sudani confirmed government plans to amend the Commercial Agencies Law. He said these reforms will match international practices and encourage more companies to operate in Iraq. He assured that Iraq will keep supporting a strong private sector as the main driver of sustainable development.
The Toyota project also represents a gateway for Iraq to strengthen global partnerships. With Toyota’s involvement, Iraq gains access to modern expertise, technology, and global business practices. In addition, this cooperation will encourage more investors to view Iraq as an attractive destination.
Overall, Al-Sudani highlighted the value of skills development. He explained that training and knowledge transfer will help young Iraqis participate in modern industries. By combining international partnerships with local capabilities, Iraq moves closer to building a diverse and sustainable economy.
