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Shafaq News / The Parliamentary Investment and Development Committee said, on Thursday, that investment in Iraq faces obstruction from ministries, departments and institutions in the country, including the problem of obtaining approvals from the Ministry of Industry to establish industrial factories, stressing the need to provide government support for projects and investments to operate the workforce and benefit from funds within the country instead of going abroad.
Committee member, Hussein Al-Sabri, explained to Shafaq News agency, "The country has many industrial factories that have obtained product protection, and many workers who have social security work in them, for example factories for sugar, oils, ampoules, Thermstone Lion of Babel, and cardboard recycling, And PET, and the Union Company, as well as iron and steel factories, and many other factories.
Al-Sabri added, "However, these factories need government support from the banking sector, in addition to a lot of investment opportunities and approvals and certification from the Ministry of Industry, which waits for its minister to give opportunities to cement factories and iron and steel factories, instead of supporting and investing in these factories."
In addition to industrial investment, the deputy refers to the existence of agricultural investment and investment in the animal production sector, indicating that "there are large fields in Diwaniyah for egg chickens and meat chickens, and in Karbala there are major projects, and these projects were completed not long ago, and some of them started production, including In the process of implementation, and another section is in the process of completing official approvals.
He stressed that "local investors are present, and it is expected that foreign investment will enter Iraq, as the country is prepared to attract large industrial investments, and even investment in the field of electric energy and solar cells, and in strategic factories and petrochemical factories, but the problem today is the presence of executive departments and ministries." institutions that hinder investment.
At the end of his speech, Al-Sabri stressed the importance of "supporting projects and investments to support the local industry that contributes to the employment of workers, graduates and academics, and at the same time benefiting from large funds and not going outside the country."
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