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Parliamentary investment: The private sector contributed to moving cement production
Economical 2023/07/12
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Hussein Thaghb Al-Tamimi
The Parliamentary Investment and Development Committee revealed the great role of the private sector in moving cement production in the country, while expressing its support for investment projects in all governorates.
The head of the committee, Hassan Al-Khafaji, told Al-Sabah, on the sidelines of signing the contract for the Sawa cement project in Al-Muthanna Governorate: “This project, which works to revive the qualitative national product and provides thousands of job opportunities, deserves support, to be a starting point for other projects in all regions of Iraq.” He added
. "The volume of work in the country requires major investment efforts that develop the economy and address all the problems facing the country,"
said Ikram Abdel Aziz, Director General of the Economic Department at the Ministry of Industry, "The ministry is supportive of all efforts aimed at restoring life to the national industry, which is the cornerstone." To develop the economic reality in the country.
She added, "The Sawa cement production project came with something new, represented by high production capacities and advanced technology, and produces with qualitative specifications and provides direct and indirect job opportunities for more than 3,500 people, and it deserves to be supported and be the nucleus of other major projects."
In turn, the economist Sadiq Al-Mashat explained that "the Central Bank's directions in support of the developmental private sector activities are credited to the Central Bank, especially since the initiatives it has adopted bring positive results as it provides the required credit for many important projects."
He pointed out that "these projects are achieving a quantum leap in economic life, including this large project in the country, as the demand for cement is growing continuously, paralleling the expansion of the size of projects in all regions of the country."
In addition, the economist Baqir Al-Mashat emphasized, "The importance of lending instructions from the Central Bank to provide credit for large projects is different from small and medium projects, due to the nature of the requirements of major projects that come with qualitative production lines by the real industrialist in communication with international and international investment companies, which need to time, and this is of course understood by the management of the Central Bank of Iraq.
He said, "The requirements of development require us to work towards creating qualitative local industries that preserve the capital cycle inside Iraq, and thus the funds contribute to maximizing the national economy by expanding the circle of national industries," noting that "providing financing represents an important step to advance the reality of industrial production in Iraq." Iraq, which possesses all the elements of industrial advancement.
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