Iraqi domestic industries suffer under import pressure

by **Rocky** Sun 07 Jan 2018, 4:23 am

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Post n°1

Iraqi domestic industries suffer under import pressure

by Rocky Sun 07 Jan 2018, 4:23 am

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2018/01/07 11:40

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Economy News _ Baghdad

Despite the difficulties experienced by some government companies, through the revival of their factories and the establishment of new production lines, they face the important challenge of the difficulty of marketing locally manufactured goods in the internal markets, in addition to the pressures of imported products.

According to the Anatolia Agency in a report, "The Economy News", "The government worked during the past year, the operation of factories and factories and public and private sector companies, and reduced the number of companies of the Ministry of Industry and Minerals from 76 to 32 companies, after a two-year study in an effort To rehabilitate those companies. "

"The company opened last month a new production line at a cost of 7 billion Iraqi dinars ($ 5.5 million), with the participation of external investors," said Hamad Salman, assistant director general of the State Company for Steel Industries (a government affiliated to the Ministry of Industry).

Salman said that "the new production line includes providing hospitals in Iraq with liquid oxygen instead of importing material from abroad."

"We have also opened a new line to produce longitudinal welded pipes, which produce 6,000 tons of pipes a year, serving the ministries of electricity, water resources, oil, agriculture and towns.

Salman explained that the main problem lies in the lack of confidence by the ministries with the local product.

"The company imported a new plant with a production capacity of 10,000 poles per year, adding to the previous production line, which has a production capacity of 10,000 poles annually," said Mohamed Kassem, director of the steel structures factory.

Qassem explained that "the production of the company of columns of international quality, but the problem we are currently facing is the conclusion of contracts with beneficiaries such as the Ministry of Electricity."

"We currently have 18,000 product columns in the company's warehouses and we are waiting to conclude contracts for the purpose of selling them," Kassem said.

Qassim pointed out that the financing of the company is subjective, meaning that the salaries of employees depend on the production of the company and the sale of production and development of production lines.

For his part, said Musab teacher, a spokesman for the Ministry of Electricity that the ministry is limited by conditions from external parties, which gave them financial loans for the conclusion of contracts with private and public companies in the country.

"We in the Ministry of Electricity support the local product, but we are limited by the World Bank as the donor to the Ministry of Finance, which requires us to deal with private and public companies according to the principle of competition with other companies."

Since 2008, the Iraqi government has begun steps aimed at improving the industrial, agricultural and trade sectors in order to boost the state budget with additional imports, with the exception of oil, which is the main source of Iraq's annual revenues.

More recently, the Iraqi government has doubled the value of taxes on goods entering the country in an effort to boost financial revenues and protect the local product.

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by **Proven** Sun 07 Jan 2018, 5:40 am

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Post n°2

Re: Iraqi domestic industries suffer under import pressure

by Proven Sun 07 Jan 2018, 5:40 am

Thanks Rocky.

Here comes inflation.

More recently, the Iraqi government has doubled the value of taxes on goods entering the country in an effort to boost financial revenues and protect the local product.