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The emergence of the need to create the Bank for Investment and Finance


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The emergence of the need to create the Bank for Investment and Finance

Post by rocky on Sun 20 Jul 2014, 5:10 pm

The emergence of the need to create the Bank for Investment and Finance

7/21/2014 0:00

In order to support laboratories and factories to meet the market need

BAGHDAD - Farah pumice

Following the closure of border crossings North because of the terrorist attacks launched by groups "Daash" on those areas, which led to inflict importer and trader Iraqi lot of money to secure goods from other countries and other outlets, making professionals and entrepreneurs claim to provide government support for the advancement of the national industry and fill the market need local products comparable to the importer.

Competent affairs industrial Mahmoud Alloush between "morning" the reasons for the deterioration of national industries over the past years in the public, private and mixed sectors, including obsolescence of equipment and machinery and equipment used in production, as well as the evolution in the world and preoccupation with Iraq at the same time the economic blockade and war during the former regime , making the industrial sector in Iraq fitfully.

He added Alloush: "After the change has been agreed to identify the face of the Iraqi economy and turning of the economy's dictatorship to a market economy, but it has not been working in this direction, the right way, as it did not provide support to private industry, to promote it and develop national product along the lines of agricultural initiative , "he says.

He called specialists and owners of a productivity factor the government to provide support for laboratories and factories producing, along with the establishment of industrial cities integrated enhance the status of the local product, as well as providing fuel at reasonable prices, and providing world-class technology. Confirmed competent necessity of the establishment of the Bank for Investment and Finance with the task of lending to owners of industrial enterprises to update their lines productivity , a private industry that make up the value of the raw materials (VAT) a high proportion of production costs, are economically feasible, especially that Iraq is wasting its resources on current consumption and the opening of the Iraqi border for all goods from countries around the world, whether good or bad. pointed out that Iraq had 36 000 industrial project is small and the average of the private sector, they were the products cover a part of the local market need and some of which was available for export, but it stopped working because of the circumstances experienced by Iraq before and after 2003, calling for the revitalization of national industries and the advancement of in order to bridge the local market need, as well as their contribution to job creation and absorption of manpower to eliminate unemployment, as is the case in many countries of the world that accompanied the progress and development of the world in their products and the requirements of its markets as a result of the support of those governments to its private sector, as in Iran, and Turkey , Croatia, China, Thailand, Italy and other countries. For his part, appealed to Saad Hassan, the owner of a factory for the production and marketing of dairy products, juices and ice cream, the competent authorities to provide soft loans to his counterparts who stopped their factories for the production for several reasons, including obsolescence of machinery and equipment, and the lack of electrical power on a regular basis, as well as fuel prices, which affect the cost of the local product. He also said that the market is teeming with products imported substandard and at lower prices than domestic, which requires a serious reaction by the competent authorities to support national industries, and the application of the law of tariffs on imported goods.

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