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Industry: 4,508 industrial projects stalled
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The Ministry of Industry and Minerals announced the granting of official establishment licenses for 5,000 industrial projects, of which only 492 had been implemented, and the ministry attributed this to the difficulties in allocating lands and the routine of granting environmental approvals for industrial projects.
And it was assumed that these projects, if implemented, would limit unemployment in the country, which jumped from 22 percent in late 2019 to reach 40 percent, as a result of the economic crisis in the country, the outbreak of the Corona virus, and the curfew, according to official statistics.
The Director General of the Industrial Development Directorate in the ministry, Aziz Nazem Al-Issawi, said in an interview with Al-Sabah newspaper, followed by Al-Eqtisad News, that “the directorate granted licenses to establish five thousand factories in the country with various activities for the private and mixed sectors. The latest field discoveries amounted to 492 industrial projects in Baghdad and the provinces. These projects were distributed by 306 projects for construction industries, 103 projects for chemical industries, 65 projects for food industries, 15 projects for metallurgical industries, and 3 projects for textile industries. He explained that "there are challenges facing industrial projects, including obtaining the approvals of supportive authorities related to the environment, and the difficulty in obtaining land due to red tape," calling "the concerned authorities to take into account the specified time periods for the completion of these projects."
Al-Issawi stressed, "The confidence of investors in establishing industrial plants is achieved through removing the bureaucratic vision, introducing an electronic automation system, and applying strict laws to protect the investor and his money, as Iraq occupies a distinct classification of investment opportunities because it includes large resources and an open market to supply it with various commodities."
The Ministry announced that there are plans for the Opinion Commission to follow up and supervise the newly established private and mixed industrial sector projects and to provide services and facilities to them in accordance with the regulations and instructions in force, especially those that were able to prove their presence and restore the luster of "Made in Iraq to the local market and worked to employ the unemployed."
Al-Issawi noted “the achievement of production-sharing contracts with foreign, local and Arab companies that worked to rehabilitate factories and add new production lines, and were able to achieve great profits, coinciding with efforts to develop a new plan to encourage industrial investment and apply the law to protect the national product and raise the quality of products.” It is noteworthy that Iraq after 2003 pursued a free market policy, but there were no factors sufficient to cover the goods required by the citizen as a result of the recovery in his monthly income, so he turned towards importing at the expense of the local product.
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