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Parliamentary Development: We are optimistic about the future of local production
Iraq 04/04/2023
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Muhannad Abdel Wahhab
The Parliamentary Investment and Development Committee is working on approving industrial laws to create a quantum leap in increasing local production and reducing unemployment by absorbing local labor and curbing imports.
The deputy head of the committee, Hussein Al-Sabri, said in an interview with Al-Sabah: The committee “has set up many technical workshops with the Iraqi Federation of Industries, chambers of commerce, investors and industrialists in order to advance the industrial and economic reality in order to prepare the appropriate ground for economic and industrial laws, including the industrial investment law.”
He added, "The adoption of these laws related to industry will generate a qualitative boom in supporting local production, in addition to reducing unemployment, absorbing labor force, and establishing small factories." through the enactment of these laws. He explained that «the committee is trying to support industrial projects by creating an attractive environment through legislation, including the partnership law between the private and public sectors and the industrial investment law, in which articles were approved that encourage attracting investors through customs exemptions and their ownership of the land on which the projects are built and the entry visa and the goal is to re-seal Made in Iraq".
Edited by: Ali Abdel-Khalek
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