Iraq targets 84 trillion dinar private sector investment under new plan

Baghdad (IraqiNews.com) – The Iraqi Ministry of Planning announced on Saturday, May 31, 2026, the implementation of comprehensive digital and field-based mechanisms to track project execution across the nation.

The ministry highlighted that private sector investments under the current five-year national development plan will reach approximately 84 trillion IQD. Officials added that the strategic priorities for 2026 are geared toward reducing national poverty and unemployment rates while strengthening productive economic sectors.

Ministry spokesperson Abdul-Zahra Al-Hindawi told the Iraqi News Agency (INA) that these initiatives operate under the umbrella of the National Development Plan (2024–2028). Executed in coordination with federal ministries, provincial governorates, and the private sector, the blueprint focuses on improving public services, diversifying the economy, and cutting unemployment.

The targeted sectors focus heavily on core infrastructure alongside health, education, food security, agriculture, transportation, telecommunications, and digital transformation. In alignment with the government’s ministerial curriculum, special emphasis is placed on economic initiatives that reduce Iraq’s deep dependence on crude oil revenues.

Furthermore, the national development framework prioritizes completing major, high-impact strategic initiatives, led by the Development Road project and the Grand Faw Port. The Ministry of Planning is prioritizing the completion of ongoing public works that have already achieved advanced completion rates, while strictly limiting the addition of entirely new projects unless deemed absolutely necessary.

To manage and evaluate these ongoing projects, Al-Hindawi explained that the ministry has deployed the Iraq Development Management System (IDMS). The system operates as an integrated, centralized data platform that creates direct electronic links between executing ministries, regional governorates, and implementing agencies.

This digital setup is backed by specialized technical field teams from the Ministry of Planning that conduct on-site inspections to verify completion rates, isolate operational bottlenecks, and implement immediate practical solutions. Additionally, the ministry has established a dedicated framework to measure performance indicators for investment projects, generating periodic evaluation reports for senior government decision-makers.

A central pillar of the National Development Plan (2024–2028) focuses on expanding the private sector’s contribution to the national economy by stimulating local and foreign direct investments. The strategy aims to support small and medium enterprises (SMEs), align higher education outputs with real-world labor market demands, and transition Iraq from a rentier economy to a productive industrial and agricultural model.

By shifting employment pressure away from the public sector, the 84 trillion IQD in planned private sector investments will account for roughly 35% of the country’s total projected investment pool. Al-Hindawi concluded that the ministry’s 2026 guidelines will tackle poverty and unemployment by funneling capital directly into job-creating productive sectors, while collaborating with the Ministry of Higher Education to modernize domestic labor market policies.

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المصدر: Iraqi News