Alsabah Newspaper

Special efforts to develop production and attract investment companies

The adviser to the Ministry of Industry and Minerals described the industrial sector as the true supporter of the national economy and the creation of employment opportunities and the absorption of unemployment, expressing regret for the spending of about 321 billion dollars for the period between 2006 and 2014, which was diverted abroad in the import programs not considered, noting at the same time that support the national industry to stop this waste .
He added d. “The support of the national product is the effective solution to many of the problems faced by the country from the shortage of foreign currency due to the decline in oil prices over the past three years, as well as support for the economy of the country, let alone solve the social problems resulting from The lack of job opportunities among the graduates is the largest sector in terms of its ability to absorb unemployment and labor force, as is known Globally “.

Private Sector Partnership
“The ministry is working to ensure that the national product occupies its position in the economic life, and that its production is in accordance with international standards, taking into account that it is a regional competitor in cooperation with the local private industrial sector, which adopted the long-term industrial strategy as an active partner and leader in industrial decision-making.” There are thousands of out-of-service industrial plants capable of covering a large proportion of the domestic demand for various products that provide substantial amounts of money earmarked for import. “The industrial sector over the past years has been neglected And this negligence was the result of the adoption of policies that appear to be a free economy and its reality is an economy without features, but in the At present, I realized the mistakes that have affected the country’s economic progress, Where the ministry is working hard to convince the higher authorities and actually took decisions from Before the Cabinet to protect products National support “.

Protection of national product
Said that the implementation of the law of protection of national product No. 11 of 2010 and the implementation of the law on the protection of national products began serious steps to correct the tracks and promote the national industry, noting that the decisions taken over one year more than taken since 2010 until last year,
Al-Lami praised the national industries in various sectors, especially the heavy engineering sectors and the construction industries, chemical, petrochemical, fertilizers and construction industries, pointing out that “the ministry is now working to create investment files aimed at restoring life to the industrial sector.”

Major investment projects
The adviser explained that “these large investment projects need billions of dollars, will generate revenues to the country and will be attractive to investors, as it was previously announced and did not invest due to the instability of the security situation,” adding that we are working on this aspect seriously to make it attractive to investors after The stability of the country security where it is expected to come international companies to invest in various industries, especially petrochemical industries and fertilizers to provide raw materials, including natural gas, accompanied by the construction industries, glass, ceramics and construction industries, as well as industries that Needed by the ministries of oil and electricity.

Stop wasting money
Al-Lami expressed regret for the spending of about 321 billion dollars for the period from 2006 to 2006, which was diverted abroad through importation programs that are not studied. He pointed out that supporting the national industry will stop this waste. The Ministry of Industry and Minerals hopes to implement the provisions of Article 27 of the Federal Budget Law 2017 in support of the national product and the sustainability of the national industry and make it the vital lifeline of the Iraqi economy. He added that the ministry sought to develop its products to meet the need of other ministries of products and achieve value added by more than 25 percent. . He pointed out that the amounts allocated to the annual investment budget amounted to about (3.444) trillion dinars for the period of 2008-2014, which had a great impact in the rehabilitation of some production lines and thus increase production capacity, adding that the national industry and until 2003 accounted for 14 percent of the national product. He concluded by pointing out that every job opportunity in the industry creates four indirect opportunities outside the industrial plants through the circulation of the product and raw materials such as wholesaler, single, carrier and so on.

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