Daijiworld Media Network - Baghdad

Baghdad, Sep 21: Iraqi Prime Minister Mohammed Shia’ al-Sudani has unveiled an ambitious long-term roadmap, Iraq Vision 2050 for Development and the Future, aimed at transforming the country’s oil-dependent economy into a diversified, sustainable, and innovation-driven model. Launching the vision during a high-level ceremony in Baghdad, attended by diplomats, government leaders, and private sector stakeholders, al-Sudani emphasized that Iraq can no longer rely solely on fossil fuels to sustain its future.

The Vision 2050 framework focuses on reducing the nation's dependency on oil by promoting structural reforms, enhancing private sector involvement, and pursuing sustainable development strategies. A central pillar of the plan is to establish Iraq as a critical transit hub for global trade between Asia and Europe—targeting 20 per cent of that corridor—through major infrastructure initiatives such as the Al-Faw Grand Port and the Development Road project, projected to generate up to 1.5 million jobs.

In parallel, the vision sets ambitious self-sufficiency goals across food, water, and energy sectors, aiming to meet 70 per cent of domestic demand through eco-conscious and climate-resilient practices. A comprehensive development roadmap to implement these objectives will soon be presented to Iraq’s Council of Ministers for approval.

Al-Sudani described Vision 2050 as a national mission that transcends political boundaries and involves broad participation from government bodies, academia, civil society, the private sector, and Iraqi youth. He underlined that global shifts in technology and artificial intelligence demand that Iraq move beyond oil and establish a future-ready economy that is diversified, competitive, and resilient.

While striving to reduce its over-reliance on oil, Iraq continues to modernize its petroleum sector through technological advancements and international partnerships. Notably, the Oil Ministry recently signed a principal agreement with U.S. energy giant Chevron, reinforcing Baghdad’s dual-track strategy of both reforming and revitalizing its most critical industry.