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Iraq calls 36 Arab and international companies to invest in military industries

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rocky
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Iraq calls 36 Arab and international companies to invest in military industries

Post by rocky on Thu 11 Jan 2018, 2:19 am

[size=30]Iraq calls 36 Arab and international companies to invest in military industries[/size]
10/01/2018 01:27 | Number of readings:
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Trend Press / Baghdad
 
 
Minister of Industry and Minerals Mohammed Shiaa al-Sudani called on Iraqi, Arab and foreign investors to invest in Iraqi military industries either through direct purchase or granting franchising or agency in accordance with the Iraqi laws in force.
 
"The Iraqi industry has adopted the subject of military industries according to the decision of the Council of Ministers and to establish the Military Industries Authority under the supervision of the commander-in-chief of the armed forces," he said.
 
Al Sudani pointed to the preparation of investment files in the processing of lines of ammunition and light and medium weapons, and direct invitations to 36 Arab and international companies specialized in this area, and it is hoped to receive offers in the near future to proceed with referral procedures.
 
He pointed out that the body was formed by the General Military Industries Company, consisting of the merger of 8 public companies, which later became "factories", and the integration of 6 other factories with it; were transferred from the Ministry of Defense to the Ministry of Industry.
 
He stressed that the calls for the rehabilitation and revitalization of Iraqi military industries in order to reduce the burden on the budget, and reduce the depletion of the country's resources to secure military equipment.
 
The statement "Industry and Minerals", the recommendations to allocate 10 to 15% of the revenues of the Ministries of Defense and Interior and security institutions allocated for ammunition and light weapons and medium, for the purpose of contracting with the Military Industries Company.
 
The statement also called for the security authorities to send the actual requirement for 2018 of military products and ammunition, as well as a recommendation to exempt investment contracts for the private sector with the General Military Industries Company of taxes.
 
For his part, announced the Iraqi Interior Minister in a statement, the readiness of his ministry to buy and market all the products of the General Military Industries Company of small arms and medium, pointing out that the Minister of Defense has authorized him for the same purpose in support of the national industry.



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