Prime Minister Mohammed Shia Al-Sudani on Wednesday inaugurated the implementation of the Toyota Iraq industrial, storage, and service investment project in Baghdad.
Al-Sudani described the initiative as a landmark for foreign investment in Iraq, highlighting it as a model of partnership between the national private sector and global companies such as Toyota. He underlined that the project reflects the growing relationship between Iraq and Japan, and praised the Japanese Ambassador for his role in strengthening bilateral ties.
The Prime Minister reiterated the government’s commitment to supporting the private sector, improving the business environment, and overcoming bureaucratic obstacles. Covering an area of 225,000 square metres, the project will be implemented in two phases at a total cost of 30 billion dinars [$23 million], and will gradually transfer vehicle manufacturing and service technologies to Iraq.
Al-Sudani stressed that this is the first project of its kind in Iraq by Toyota, designed to be environmentally friendly and aligned with international standards on climate change and carbon reduction. He emphasised its role in providing job opportunities, developing skills, and supporting Iraq’s broad development and reconstruction plans.
He also confirmed government plans to amend the Commercial Agencies Law to align with international business practices, and affirmed continued support for a capable private sector as a driver of sustainable development.
