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November is the date for announcing industrial investment opportunities
Iraq 09/21/2023
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Baghdad: Rula Wathiq
The Ministry of Industry and Minerals intends to hold a conference to announce other industries as investment opportunities next November, through a plan to enter into partnerships with the private sector.
The ministry’s official spokesperson, Duha Muhammad al-Jubouri, said in an interview with “Al-Sabah”: “November will witness the holding of a conference to announce other industries as investment opportunities, such as food and textiles,” noting that “the ministry decided to have modern and advanced production lines to ensure the presence of new products.” Al-Jubouri revealed, “The Ministry’s endeavor to address the reality of the local industry, by developing a comprehensive vision to advance its capabilities, which included focusing on strategic industries that include iron and steel, fertilizers, phosphate, sulfur, mining, cement, and pharmaceuticals, through partnership with the private sector.” She explained that “the Ministry does not have the ability to return these industries to their normal state before 2003, which led it to develop a plan to enter into partnerships with the private sector, whether local or with foreign or Arab countries and companies.”
Al-Jubouri noted, “The Ministry received offers from 19 foreign, Arab, and local companies to enter into partnerships to invest in strategic industries, and conducted a complete study to choose the best in terms of experience, and currently we are in the final stages of announcing the signing of these opportunities.”
She explained that “the Ministry has 295 factories, 191 of which are active, while 104 factories are almost stopped,” noting that “a committee has been formed by the Minister of Industry to study the stopped factories and determine their feasibility and their suitability for rehabilitation and work again, since most of them are obsolete and have expired.”
As for the dairy industry, Al-Jubouri indicated that “it is difficult to achieve self-sufficiency in this industry because imports are open, and the existing production lines cannot meet the market’s need,” pointing out that “the ministry’s plan revolves around establishing new production lines and products like those prepared for the ministry.” Electricity, such as distribution and power transformers, smart meters, meters, and cables of all types and measurements.”
Edited by: Wael Al-Maluk
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