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THE INDUSTRY REVEALS CONDITIONS FOR GRANTING PROJECT LOANS AND MEASURES TO REDUCE CORRUPTION
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THE INDUSTRY REVEALS CONDITIONS FOR GRANTING PROJECT LOANS AND MEASURES TO REDUCE CORRUPTION
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[You must be registered and logged in to see this link.]5 hours ago51The Iraqi private sector is the homeland of its industry in neighboring countries due to the previous regime or the events that the country has experienced from acquiring real estate for businessmen and traders or imposing participation on them. Kh
Today, Saturday, Qaiser Ahmed Al-Hashemi, adviser to the Ministry of Industry and Minerals for Development Affairs, revealed the conditions for granting loans to industrial projects, pointing to taking measures to reduce corruption by completing projects in the private sector.
Al-Hashemi said, in a statement reported by the official news agency: "The industrial cities are under construction and the internal industrial cities have nothing to do with the Jordanian-Iraqi-Egyptian agreement, as there is an economic city, not an industrial one, which includes an industrial city, a commercial exchange city, and a free zone."
He added, "There is an industrial city in Anbar, industrial cities in Nasiriyah and Basra, and two industrial cities in Najaf and Holy Karbala." An investor announces the availability of spaces according to the geographical area to establish factories and laboratories according to the desire of the citizens.
Al-Hashemi pointed out that "the investment environment in Iraq is almost clear, and it has great facilities that grant loans to the announced project, as well as exemption from taxes, fees and customs for a period of 5 years, and production lines that are imported from taxes and fees, and the primary construction materials are exempted from taxes and fees, and the product If he is able to achieve self-sufficiency, he is subject to the protection of the national product.
He pointed out that "the Iraqi private sector is the homeland of its industry in neighboring countries because of the previous regime or the events that the country went through from acquiring real estate for businessmen and merchants or imposing participation on them," noting that "there is a class in society from the private sector that lives on penetration of laws exploited." Its influence and others do not have production, but rather live on the sale of the project only, so there are procedures to limit these, including canceling operational advances and obligating the investor to implement 25% of the project before starting to grant him the loan and adopting the principle of a single window with its conditions, conditions and address from submitting the application and completing the procedures and setting a time limit for completing the licenses and approvals for the granting of loans announced.
Al-Hashemi continued: "We have the industrial city in Nasiriyah, which is currently receiving applications, and we have cement factories where investment licenses have been granted, and there is an investment project for the Samawa factory that has been announced, in addition to more than 200 investment opportunities announced and found on the official website of the ministry."
He noted that "some authorities and ministries, due to ignorance, concluded many contracts with semi-fake companies that did not perform their duties correctly. Therefore, the ministries were forced to terminate those contracts with these companies, which tend to arbitrate according to the penal conditions in the contract, in which he is required to compensate his profit in which half the value of the contract. ".
Al-Hashemi stressed that "the industry is managed by the state and therefore does not have a successful future, because the real partnership must be with the sober and capable private sector with global expertise, in addition to the fact that there are some investments that are not feasible."
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Al-Hashemi said, in a statement reported by the official news agency: "The industrial cities are under construction and the internal industrial cities have nothing to do with the Jordanian-Iraqi-Egyptian agreement, as there is an economic city, not an industrial one, which includes an industrial city, a commercial exchange city, and a free zone."
He added, "There is an industrial city in Anbar, industrial cities in Nasiriyah and Basra, and two industrial cities in Najaf and Holy Karbala." An investor announces the availability of spaces according to the geographical area to establish factories and laboratories according to the desire of the citizens.
Al-Hashemi pointed out that "the investment environment in Iraq is almost clear, and it has great facilities that grant loans to the announced project, as well as exemption from taxes, fees and customs for a period of 5 years, and production lines that are imported from taxes and fees, and the primary construction materials are exempted from taxes and fees, and the product If he is able to achieve self-sufficiency, he is subject to the protection of the national product.
He pointed out that "the Iraqi private sector is the homeland of its industry in neighboring countries because of the previous regime or the events that the country went through from acquiring real estate for businessmen and merchants or imposing participation on them," noting that "there is a class in society from the private sector that lives on penetration of laws exploited." Its influence and others do not have production, but rather live on the sale of the project only, so there are procedures to limit these, including canceling operational advances and obligating the investor to implement 25% of the project before starting to grant him the loan and adopting the principle of a single window with its conditions, conditions and address from submitting the application and completing the procedures and setting a time limit for completing the licenses and approvals for the granting of loans announced.
Al-Hashemi continued: "We have the industrial city in Nasiriyah, which is currently receiving applications, and we have cement factories where investment licenses have been granted, and there is an investment project for the Samawa factory that has been announced, in addition to more than 200 investment opportunities announced and found on the official website of the ministry."
He noted that "some authorities and ministries, due to ignorance, concluded many contracts with semi-fake companies that did not perform their duties correctly. Therefore, the ministries were forced to terminate those contracts with these companies, which tend to arbitrate according to the penal conditions in the contract, in which he is required to compensate his profit in which half the value of the contract. ".
Al-Hashemi stressed that "the industry is managed by the state and therefore does not have a successful future, because the real partnership must be with the sober and capable private sector with global expertise, in addition to the fact that there are some investments that are not feasible."
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