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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The Iraqi industry is dusting off its machinery... a slow rise and great challenges

    Rocky
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    The Iraqi industry is dusting off its machinery... a slow rise and great challenges Empty The Iraqi industry is dusting off its machinery... a slow rise and great challenges

    Post by Rocky Mon 13 Mar 2023, 5:46 am

    The Iraqi industry is dusting off its machinery... a slow rise and great challenges

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    Economy News-Baghdad
    The Iraqi industry began to dislodge the dust spread on its machines since the factories were closed in 2003 due to the opening of borders and commodity dumping practiced by a large number of countries such as Iran, China and Turkey, which made most factory owners lay off workers.
    The young man, Muhammad, opened the doors of his factory, to become the largest factory for the production of foodstuffs such as juices and ice cream, which began to be exported outside Iraq to several European and Arab countries.
    He told "Al-Iqtisad News" that "the Iraqi industry has faced a major challenge since the nineties of the last century, as technology disappeared from the factories for a long time due to the economic blockade imposed on the country, and after 2003, Iraq opened up to the world and products invaded the local market, which closed Industrialists open their factories for several factors.
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    He added, "The most prominent factors are the high cost of the Iraqi factory, which was represented by the interruption of electricity for long periods, and its replacement with private generators with the scarcity and high costs of fuel and the absence of skilled labor dealing with modern technology, in addition to the lack of legislation protecting the factory, and the borders remaining open created a challenge for us." The need for a local industry, as we established the factory according to the latest specifications, and now our products are in high demand by citizens, and we have exported to several countries.
    For his part, the director of the "Al-Bariq Al-Sata'" plant, which produces nuts and foodstuffs, Mustafa Ahmed, confirms that his factory produces 5 tons of foodstuffs per day, and he wants to double it during the coming period.
    He told "Al-Eqtisad News" that "our factory employs dozens of people, and today we started expanding production lines," noting that "the project contributes to bringing foreign currency and preserving it inside the country, while there are many who import everything, which is a loss for the national economy and the workforce." .
    In the same context, Muhammad al-Lami, the official in charge of the "Al Nassma" meat production plant, said, "Our production increased by 40% after we obtained soft loans from the Central Bank's initiative, as we purchased modern equipment to develop our business."
    He stressed that "protecting the local product is the duty of all Iraqis, and that the state should do so, because this affects the economy."
    Meanwhile, the investor, Asaad Rasan, said that during his visit to Turkey, he saw the transfer of waste and waste from Iraq to Turkey, in order to manufacture layers of eggs and cartons, and then return them to Iraq to sell them at a higher price.
    "The waste was exported from Iraq to Turkey at low prices, and then resold to us ten times as much, which is why I established a factory to produce 4,000 layers of eggs per hour," Rasen told Al-Iqtisad News.
    He added, "Self-sufficiency in eggs due to poultry made there a demand for our product, and today we are thinking of increasing production capacity in order to export these materials outside Iraq."
    The head of the Iraqi Federation of Industries spoke of the existence of 63,000 factories in Iraq, of which 38,000 have stopped working.
    Adel Akab told Al-Iqtisad News that "the state did not care about Iraqi factories, and the borders remained open to all commodities, and therefore the local product remained alone facing all challenges."
    He added, "There are factories that have begun to prove their strength and achieve self-sufficiency, as today the country is sufficient of juices and some foodstuffs," noting that "Iraq today exports juices and nuts to European countries and some Arab countries."
    He pointed out that "the percentage of the industrial sector's contribution to the GDP does not exceed 5%," explaining that "the loans must be supervised by the Federation of Industries, which knows all factories in Iraq."

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    Added 03/13/2023 - 10:50 AM


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