Volvo Expects Biggest Growth in Iraq
|July 28, 2013||Filled under Iraq Daily News|
Volvo Group Trucks is on track to grow by 30 percent in the Gulf region by 2015 on the back of a construction boom in Iraq and a strong economy in Saudi Arabia, according to a report from The National.
Stefan Soenchen, business team director in Iraq, said:
“The key markets are Saudi Arabia and Iraq, [which is] where we expect the biggest growth. The whole infrastructure was destroyed [after the invasion of Iraq], so it is necessary to do huge investment over the next five to ten years to rebuild the whole country. That is then a normal growth from year to year.”
The company operates two truck centres in Iraq in partnership with ZamZam General Group and plans to open a third by the end of the year. There will also be a new truck assembly line in Babylon-Iskandariya, which will be one of the first in the country.
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