Iraq industrial cities seeks support from the International Finance Corporation (IFC) to grow its industrial sector and strengthen its workforce. Minister of Industry and Minerals, Khaled Battal Al-Najm, met with an IFC delegation to discuss new ways to cooperate. He focused on plans to develop industrial cities and train workers across key sectors.
The IFC, part of the World Bank Group, presented its vision for long-term industrial partnerships in Iraq. During the meeting, its team explained global experiences in financing and managing industrial cities. They also highlighted successful public-private cooperation models in developing economies.
Al-Najm welcomed the proposals and emphasized Iraq’s openness to international investment. He stressed that Iraq needs strong partnerships to drive industrial transformation. He also added that cooperation with the IFC fits into Iraq’s national strategy for economic diversification.
Moreover, Iraq industrial cities both sides discussed specific areas for collaboration. The talks included potential IFC involvement in project financing and technical training programs. The minister noted that Iraq’s industrial zones could grow faster with foreign expertise and flexible funding.
Additionally, the meeting covered Iraq’s workforce challenges. Al-Najm underlined the need to upgrade skills among industrial workers. He said the ministry is ready to work with international partners to provide specialized training. He also proposed forming joint teams to explore the IFC’s role in this area.
The IFC expressed interest in conducting field studies to identify promising investment sites in Iraq. They agreed to form technical groups to study Iraq’s regulatory framework. These groups will also propose legal reforms to attract more private investors to the sector.
Furthermore, both parties discussed the importance of transparent procedures. The minister said Iraq aims to make its investment environment more attractive and stable. He promised to simplify licensing and land allocation processes in the industrial zones.
The IFC delegation praised Iraq’s renewed focus on industry and economic reform. They affirmed the IFC’s readiness to offer financial tools and advisory services. They said these resources could help Iraq improve productivity, job creation, and long-term development.
As talks move forward, both sides agreed to continue exchanging information. They also plan to draft a framework for partnership in upcoming months.