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The Ministry of Industry offers its losing companies to invest
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The Ministry of Industry and Minerals announced details of [url=https://www.thebaghdadpost.com/ar/Story/t/103845/%D8%AE%D8%B7%D8%A9 %D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D9%8A%D8%A9]an investment plan[/url] for the next four years regarding the fate of the losing companies, revealing the details of soft loans to be paid to the industrialists.
A spokesman for the Ministry of Industry and Minerals Abdul Wahid al-Shammari said: "The ministry has plans to promote the industry in the country, especially as there is a government and parliamentary trend to be an alternative to [You must be registered and logged in to see this link.] industry in light of the fluctuation in world [You must be registered and logged in to see this link.]prices and make the Iraqi economy non-rent.
He added that the ministry aims during the next four years to transform the unprofitable losers into profit and productivity companies through activating the investment. He pointed out that there are about 280 factories affiliated to the Ministry of Industry and Minerals, of which 150 are working factories with different production rates, while 130 factories are still suspended and non- A product due to the lack of financial allocations to the Ministry of Industry during the years (2016, 2017, 2018), which forced the ministry to put those companies to invest.
Al-Shammari said that the ministry called on Iraqi, foreign and Arab companies to invest in these companies and make them productive, as the ministry will grant all facilities to investors to revive factories suspended in the country, stressing that investment does not mean selling companies to the private sector, Iraqi companies operating in companies can not be dispensed with.
He pointed out that the ministry supports the industrial companies belonging to the private sector, where there are about 4967 factories belonging to the private sector, as the Ministry of Industry seeks to provide the necessary support for industrialists in terms of land supply and sale at nominal prices as well as soft loans, noting that the Industrial Bank allocated $ 600 billion Dinars will be granted in the form of soft loans for industrialists.
Al-Shammari said that the ministry is also interested in the military industries. A combat weapons factory was opened within the General Company for Military Industries, as well as a production line for the warplanes and a mortar line, and plans to supply the defense and interior ministries with equipment.
For her part, said a member of the Committee on Economy and Investment parliamentary Nada Shaker, that the government began the privatization of companies losing to the Ministry of Industry, through its offer for investment, noting that the Abu Ghraib plant will be granted to a Turkish investment company.
Shakir added that the investment contract will oblige the investor not to dispense with the staff working in the company, where the worker in the production line will have incentives and allowances in addition to his salary, while the worker who would prefer to be administratively will receive his usual salary only.
She explained that investment is the best way to promote the local industry, but requires the activation of legal legislation that facilitate the work of investors as well as activating the law of protection of local product and impose high fees on imported goods to support the national industry.
A spokesman for the Ministry of Industry and Minerals Abdul Wahid al-Shammari said: "The ministry has plans to promote the industry in the country, especially as there is a government and parliamentary trend to be an alternative to [You must be registered and logged in to see this link.] industry in light of the fluctuation in world [You must be registered and logged in to see this link.]prices and make the Iraqi economy non-rent.
He added that the ministry aims during the next four years to transform the unprofitable losers into profit and productivity companies through activating the investment. He pointed out that there are about 280 factories affiliated to the Ministry of Industry and Minerals, of which 150 are working factories with different production rates, while 130 factories are still suspended and non- A product due to the lack of financial allocations to the Ministry of Industry during the years (2016, 2017, 2018), which forced the ministry to put those companies to invest.
Al-Shammari said that the ministry called on Iraqi, foreign and Arab companies to invest in these companies and make them productive, as the ministry will grant all facilities to investors to revive factories suspended in the country, stressing that investment does not mean selling companies to the private sector, Iraqi companies operating in companies can not be dispensed with.
He pointed out that the ministry supports the industrial companies belonging to the private sector, where there are about 4967 factories belonging to the private sector, as the Ministry of Industry seeks to provide the necessary support for industrialists in terms of land supply and sale at nominal prices as well as soft loans, noting that the Industrial Bank allocated $ 600 billion Dinars will be granted in the form of soft loans for industrialists.
Al-Shammari said that the ministry is also interested in the military industries. A combat weapons factory was opened within the General Company for Military Industries, as well as a production line for the warplanes and a mortar line, and plans to supply the defense and interior ministries with equipment.
For her part, said a member of the Committee on Economy and Investment parliamentary Nada Shaker, that the government began the privatization of companies losing to the Ministry of Industry, through its offer for investment, noting that the Abu Ghraib plant will be granted to a Turkish investment company.
Shakir added that the investment contract will oblige the investor not to dispense with the staff working in the company, where the worker in the production line will have incentives and allowances in addition to his salary, while the worker who would prefer to be administratively will receive his usual salary only.
She explained that investment is the best way to promote the local industry, but requires the activation of legal legislation that facilitate the work of investors as well as activating the law of protection of local product and impose high fees on imported goods to support the national industry.
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