FINANCIAL NEWS

Iraq to build $250m business village

26 Jul 2010

(MENAFN) The Babylon Investment Authority (BIA) said that an investment permission worth $250 million has been granted for building a business village near Baghdad international airport, to be carried out within a period ranging between 3 and 5 years, Kuna reported.

Chairman of the commission Shakr Al-Zameli said in a statement to the press that the BIA granted this investment permission in order to create a business area that attracts commercial and services investment near that Baghdad international airport.

A free duty zone would also be set up in the area for travelers and Iraqis to benefit from, noted Zameli, affirming that such area would boost the Iraqi economy and create more jobs for Iraqis.

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