Iraq News Now

Shafaq News / The Industrial Cities Authority, under the Iraqi Ministry of Industry and Minerals, announced on Thursday its membership in the World Federation of Free Economic Zones (FEMOZA) in collaboration with the United Nations Industrial Development Organization (UNIDO). Hamed Awad Mohammed, the General Director of the Authority, clarified that “the entity is a vital force tasked with driving the industrial cities forward and enhancing their prosperity across Iraq.”He emphasized that “joining FEMOZA was a response to the importance of international partnerships in achieving the Authority's goals amidst economic changes, market dynamics, and global transportation networks, leveraging Iraq's strategic geographical location.” Mohammed pointed out that “FEMOZA is a well-known international union committed to promoting sustainable economic zones and has connections with 200 countries worldwide.” He further added that “this affiliation emphasizes the goals of the Industrial Cities Authority in creating a conducive environment for investment, innovation, and economic diversification.”“This involves capitalizing on the organization's global network, attracting foreign investment to Iraq, and enhancing the Authority's capacity to establish and manage industrial zones to facilitate sustainable development, international business participation, and industrial growth within Iraq by leveraging the expertise of specialized international organizations.”