Economic expert Safwan Qusay confirmed that the slogan “Made in Iraq” will not achieve a real impact unless the appropriate financial tools are provided to enhance local industrial production.
Qusay said, “Recovering the due funds will contribute to expanding the scope of the Industrial Bank’s influence in supporting the national industrial machine,” adding that “Iraq is in dire need of specialized loans to support various industries such as tourism, entertainment, and the fishing industry, as these areas generate revenues that contribute to strengthening capital.”
Qusay explained that “the government’s support for local industry is not a paragraph placed in the general budget, but rather it can be done through purchasing local products for federal ministries, with the ministries’ allocations being transferred to the Ministry of Industry.”
He pointed out that “the Industrial Bank needs a larger capital than announced, noting that achieving this goal can be done by recovering part of the debts due on some industrial loans and supporting projects affiliated with the Ministry of Industry through investments from the private sector.”
