Industry in Kurdistan... an important opportunity to increase financial revenues

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[size=52]Industry in Kurdistan... an important opportunity to increase financial revenues[/size]

[size=45]Ali Alhayani[/size]
[size=45]In light of the economic crisis experienced by the Kurdistan region, calls are renewed for interest in the industrial sector, as it is a vital sector through which financial revenues can be increased.[/size]
[size=45]The region relies to a high degree on the importer, especially from Iran and Turkey, despite the presence of more than 1,200 large, medium and small factories, producing foodstuffs, plastics, sweets, building materials, iron and steel, and others.[/size]
[size=45]The number of factories in the region[/size]
[size=45]The head of the Statistics Authority in the region, Sirwan Muhammad, confirms that "with the emergence of the Corona virus crisis, as well as the bad economic situation in light of the non-distribution of employee salaries, hundreds of factories closed their doors and laid off their workers."[/size]
[size=45]In his speech to Al-Mada, the head of the Statistics Authority indicated that "the laboratories currently in service are about 600 large and medium laboratories, the majority of which are specialized in foodstuffs, plastics and building materials, and there are more than 12,000 workers."[/size]
[size=45]He added, "The Corona crisis and the bad economic conditions that followed, and the delay in the payment of salaries, led to the layoffs of hundreds of workers and the closure and temporary suspension of important factories, in the hope of improving financial conditions and ending disputes with Baghdad, due to the return of activity to the industrial sector."[/size]
[size=45]important opportunity[/size]
[size=45]Khaled Haider, professor of economics at the University of Sulaymaniyah, believes that "the region has an important opportunity to activate the industrial sector, and reduce dependence on the importer, by taking a number of important points, which will focus on alleviating the crisis and benefiting the citizen."[/size]
[size=45]And he explained to (Al-Mada) that "the region depends by 75% on imported materials, especially the necessary needs of food and clothing, and this is an alarming number, and one of the reasons for the exit of hard currency outside Iraq."[/size]
[size=45]He pointed out that "the important steps that the government can take to encourage the local industry and reduce import, is to impose high fees on the imported product, and to prevent the import of materials in the region that have sufficient abundance for all citizens."[/size]
[size=45]He added, "The region is a safe environment for investors and businessmen, to encourage them to open factories and factories, but the government red tape in granting licenses and work permits should be reduced."[/size]
[size=45]official statistics[/size]
[size=45]According to statistics published on the website of the Ministry of Industry and Trade in the Kurdistan Regional Government, the ministry classified laboratories into ten categories, which are construction industries, food industries, spinning and weaving, metallurgical industries, chemical, plastic, cellulosic, hardware and tools laboratories, furniture and services.[/size]
[size=45]The ministry’s data indicate that the laboratories established in recent years were 74 plastic industries laboratories, 66 food industries laboratories, 60 construction industries laboratories, 57 metallurgical industries laboratories, 50 furniture laboratories, 44 chemical industries laboratories, 39 services laboratories, 29 cellulosic industries laboratories , three instrumentation and number laboratories, and two spinning and weaving laboratories.[/size]
[size=45]The Kurdistan Regional Government constantly stresses the importance of activating and revitalizing the industrial sector, providing the appropriate environment for the renaissance of this sector, and reducing dependence on oil and gas.[/size]
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