Al-Sudani launches Vision 2050, aims to make Iraq trade hub

BAGHDAD — Prime Minister Mohammed Shia al-Sudani on Saturday launched Iraq’s Vision 2050, a long-term plan for development and economic transformation, saying the country aims to become the gateway for 20% of trade between Asia and Europe.

In a speech at the launch ceremony in Baghdad, attended by government officials, diplomats, private sector representatives, academics, and experts, al-Sudani said the vision focuses on building a productive society, a sovereign and sustainable economy, a modern government, and balanced regional and international ties, with youth placed at the center of priorities.

He said the government began shaping the strategy in March 2023 with help from the Ministry of Planning, the Advisory Board, and McKinsey Global Institute. “Vision 2050 represents a unifying national approach that involves the state, private sector, universities, civil society, and youth,” al-Sudani said. “It is also a message to the world that Iraq has begun to rise and restore its role as a productive and active force for peace, stability, and prosperity.”

Al-Sudani highlighted structural reforms, crisis preparedness, and digital monitoring as key elements, adding that a consulting contract was signed with KBR to implement the transformation phases. He said Iraq cannot rely on fossil fuels alone, stressing the role of technology and artificial intelligence in shaping the future economy.

“We are working for Iraq to be the gateway for 20% of Asia’s trade to Europe through the Grand Faw Port and the Development Road project,” he said. He added the project is expected to create 1.5 million jobs and cover 70% of food, water, and energy needs through green initiatives.

The prime minister said the government aims to reduce oil dependence, increase private sector contribution, and secure sustainable growth. “We look forward in the coming decades to an Iraq freed from rentier dependence on oil, with a diverse and stable economy,” he said.