Iraq’s Economy And Infrastructure See Growth
TThe economy of Iraq is now growing, and foreign investors have played a major role in making that happen. Many of the most important investors in Iraq’s economy are from the United States and Europe.
In addition, the growth of companies in Iraq will be beneficial for companies in the US and Europe, and this means that the investments in the nation’s economy are likely to continue. Here are some important things to know about how the economy of the country is likely to change as a result of foreign investments:
Companies Helping To Build Iraq’s Infrastructure Are Likely To Do Especially Well
Two of the most important resources of Iraq are oil and gas, and the latest investments will help the country to make better use of these resources. Not only will this be beneficial to the economy of Iraq, but it will help to provide a larger supply of oil to other parts of the world.
New Power Plants Will Be Created
The increased funding has made it possible to construct 22 new power plants, and some of them will utilize green energy. Iraq has an exceptional amount of potential resources that renewable energy projects could utilize, and these resources are likely to be increasingly utilized in the future.
More Iraqi Citizens Will Have Access To Electricity
While there are many areas of Iraq that still lack access to electricity, this may change soon, and the improvements in the electrical grid are likely to make it easier for citizens in certain regions of the country to start many different types of businesses.
What Types Of Power Plants Will Be Created?
While there will not be oil burning plants created, there are other types of power generation facilities that will be built that use fossil fuels, such as gas and coal. In addition, some hydropower plants will be created, and these projects will help to reduce carbon emissions of the country. In fact, three of the projects are hydroelectric, two are coal burning, and 17 are gas burning.
The New Infrastructure Will Create Jobs
The construction of the new power plants and infrastructure will create a significant number jobs right away, and the improved access to electricity will also create jobs as communities will likely have access to new and improved services.
In most areas of the country, electricity is only available for a certain number of hours per day. This can limit the amount of time that businesses are able to remain open, but more hours of electricity means more potential time for businesses to be open. As a result, new jobs will be created to facilitate the expanded business hours.