Economist: The path of development will reduce unemployment and reduce dependence on oil as a source of budget


Hashem Al-Baydani, an economic affairs researcher, confirmed on Friday that proper planning for development path projects will significantly reduce unemployment, pointing out that the revenues from this path can reduce reliance on oil as a source of budget financing.
“The aforementioned road can push the Ministry of Industry, as well as private sector companies, to invest large areas near this road to establish factories and laboratories,” Al-Baydani told Al-Maalouma, “and open the door for investment in front of international companies to bring their factories to Iraq to reduce transportation costs.”

He went on to say that “building the road and opening projects on both sides of it can eliminate a large percentage of unemployment, because most factory owners want to export their products at lower transportation costs, which can be accomplished by offering land near the road for investment or rent.”
“The establishment of factories, laboratories, and projects on both sides of the road requires thousands or millions of workers and specialists, and this is something that can be invested in the right way and open the door for giant companies to invest, provided that the labor force is Iraqi, and it is possible to reduce customs duties or grant permits to open factories and factories for foreign investors,” he added.


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