Baghdad has had a new free zone approved after Iraq’s General Authority for Free Zones signed an agreement with the City Centre for Vehicles Services Co.
The latest free zone of the capital is 6,653 square meters and is part of a government initiative for promoting the local economy and decrease the unemployment, as well as branching out state profits.
The move of setting up a new free zone comes at a difficult time for Baghdad, following a series of deadly explosions which have taken the lives of many people.
At least 42 people died at an explosion at a mosque last Wednesday, while three blasts, including a suicide attack, killed at least 17 people last Tuesday.
Iraq has remained really active in many markets, in spite of the volatile ambiance, which also includes the oil industry in which contracts have recently been signed with the UAE and Kuwait.
An oil exploration agreement was signed by the Iraqi energy officials with Kuwait Energy and Dragon Oil of the UAE for exploring a 900 square kilometer block in the south of the country.
Further, Qatar Airways launched a third route lately to Iraq in a bid for helping out the country get back on its own feet, flying to central city Najaf.
Akbar Al Baker, who is the CEO of Qatar Airways, said that with all the rebuilding efforts well underway in Iraq, there is a need for flights to bring in construction workers.
He also said that as an air service provider, they at Qatar Airways have the faith and are doing their bit in the reconstruction efforts of the country.
Source: [Arabian Busines]