15:17 - 09-30-2022
Today, Friday, the Ministry of Industry and Minerals confirmed that the government has given priority to the establishment of industrial projects, and while it indicated that there are facilities for establishing industrial projects for young people, it clarified that 416 projects were completely completed within a year and a half.
Director General of Industrial Development at the Ministry of Industry, Aziz Nazim, said that "the mechanism for granting industrial projects to the private sector includes, based on the provisions of Law 20 of 1998, which is the Industrial Investment Law that the General Directorate of Industrial Development is working on."
Nazim added, "Many facilities have taken place, including bringing in industrialists' requests and setting an industrial map for the country to enable industrialists to establish their projects in the governorates according to various activities, including food, textile, chemical, engineering, and others, and many of the country's industrial activities."
He pointed out that "the government's plan and the government curriculum pay special attention and care to the establishment of industrial projects, as they represent a fundamental pillar of the Iraqi economy, as well as actively contribute to youth employment and the elimination of unemployment."
He stressed, "The industry will have a key role in employing young people and eliminating unemployment," noting that "there are short-term plans, including the Ministry's initiative to employ young graduates, and this initiative is private and is considered short-term, and there are medium-term and long-term plans."
He explained that "the short-term plan is open, and the graduate can obtain a license to establish the project at very symbolic prices, amounting to approximately 25 thousand dinars, and he can bring a financier or open his simple project," noting that "many young people succeeded in this field and obtained a plot of land." A simple request from the local government in the governorate in order to establish his project, and that the Industrial Development Directorate has coordination with the governorates and universities to take care of this category of young graduates, which is a special activity for the Directorate and the Ministry.”
Aziz continued, "Within a year and a half, more than 300 project licenses were established under construction within industrial projects, and these projects are awaiting completion until Iraq achieves progress in the field of local industry and the provision of goods in the markets," noting that "the projects that have been completed, opened their doors and distributed Its products in the local market are approximately (416) projects.
And he indicated that "Law 20 for Industrial Investment of 1998 granted privileges to industrialists when establishing their projects, including providing plots of land by the competent authorities, as well as seeking environmental approvals, as well as facilitating customs and tax exemptions for equipment, production lines, and raw materials involved in production."
He stressed that "these facilities encourage the establishment of the project and there is follow-up because the law has two phases: the first is three years, and the second phase is two years to establish the project and complete the approvals through the General Directorate of Industrial Development."
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