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


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Factories are trying to shake off their dust... new mechanisms to revive them and produce more than

    Rocky
    Rocky
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    Factories are trying to shake off their dust... new mechanisms to revive them and produce more than  Empty Factories are trying to shake off their dust... new mechanisms to revive them and produce more than

    Post by Rocky Wed 10 Jan 2024, 4:39 am

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    [size=52]Factories are trying to shake off their dust... new mechanisms to revive them and produce more than the dinar[/size]

    [size=45]Baghdad/ Haider Hisham[/size]
    [size=45]After 2003, the industrial sector in Iraq faces many crises, which led to the closure of large factories, the layoff of thousands of workers, and the sweeping of imported goods into local markets, which greatly affected the economic aspect of the country, and at a time when the Ministry of Industry and Minerals seeks to adopt a new mechanism. To restore life in factories, economists diagnosed the impact of the decline of this important sector, and its role in the dollar exchange rates.[/size]
    [size=45]Previous government data indicate that Iraq was one of the world's industrially prosperous countries in the seventies, sixties, and fifties of the last century, and the volume of industrial sector production met the needs of the local market, in addition to exporting abroad.[/size]
    [size=45]The Ministry of Industry and Minerals revealed the latest developments in factories in Iraq, and while it indicated the number of existing factories, it explained the mechanism followed by its ministry to develop factories.[/size]
    [size=45]The Ministry’s spokeswoman, Doha Al-Jubouri, said in an interview with (Al-Mada), “The Ministry of Industry and Minerals, and since taking over the current government, a comprehensive vision has been developed for the industry in general, with a special focus on strategic industries, which include (sulfur, phosphate, fertilizers, cement). And the iron and steel industry, in addition to the mining and chemical industries).[/size]
    [size=45]“New mechanism”[/size]
    [size=45]She adds, “These important strategic industries were focused on, by entering into partnerships with the private sector, and not rehabilitating them,” noting that “the Ministry organized a conference in Baghdad, during which investment opportunities and partnerships with the private sector for all strategic industries were presented.”[/size]
    [size=45]The spokeswoman for the Ministry of Industry indicated that “a number of offers were submitted from companies, some of which were Arab, foreign, and local,” indicating that “there are two sulfur projects that have been referred, in the Zaka and Mishraq fields, in addition to the referral of the phosphate complex in Anbar Governorate.”[/size]
    [size=45]Al-Jubouri mentioned, “The Ministry also held another conference in Basra Governorate to present the rest of the projects,” indicating “the existence of an iron and steel project in Basra Governorate, where the completion rate in it has reached advanced stages, which produces rebar, and during the first months of the current year, it will be opened.” This giant edifice.”[/size]
    [size=45]“Number of factories”[/size]
    [size=45]She pointed out that “the number of factories affiliated with the Ministry of Industry is approximately 294 factories, as 104 factories have stopped operating,” adding: “The Ministry’s plan for these factories, as a committee has been formed to study them and identify factories that can be rehabilitated or developed again.” “.[/size]
    [size=45]“The Babylon Tire Factory, which produces tires for saloon cars, light-duty vehicles, and agricultural tires, was rehabilitated after being equipped with modern and advanced production lines, in addition to cement factories, which were modernized and converted from oil to gas; To suit the environment,” according to Al-Jubouri.[/size]
    [size=45]It turned out that “most of the factories parked in the Ministry of Industry and Minerals have ended their lifespan, given that their technology has become outdated, and even if they are rehabilitated, they will not be at the level required in the modern market.”[/size]
    [size=45]The industry spokeswoman notes, “The Ministry decided to enter into new partnerships with the private sector; To bring modern and advanced production lines, and suit modern technology and current development in the Iraqi market; To create new factories to replace the stalled ones.[/size]
    [size=45]“Reasons for decline”[/size]
    [size=45]In addition, the economic expert, Abdul Rahman Al-Mashhadani, identified two basic problems behind the decline in factory work in Iraq, and among the benefits that factories will provide if they are rehabilitated again, he pointed to their relationship to the exchange rate.[/size]
    [size=45]Al-Mashhadani mentioned, in an interview with (Al-Mada), that “the main problem in the industries file is the age of production lines, which made them not work according to economic standards, in addition to the Iraqi governments, which also bear responsibility for the decline of this sector, when they opened the door for appointments in areas “Unproductive.”[/size]
    [size=45]He explains, “There are huge numbers of employees working in factories that only need 5% of their total numbers,” indicating that “the private sector is not qualified to lead these huge factories and facilities, as it has not worked to reduce import operations and transfer funds.”[/size]
    [size=45]“Several benefits”[/size]
    [size=45]Regarding the benefits of restarting work in factories, the researcher in economic affairs explains that “resuming work in Iraqi factories will cover a large part of the local market’s need, and instead of filling these needs with materials from outside the country, the import will be local, which creates many job opportunities, in addition to preventing... Currency smuggling.”[/size]
    [size=45]Al-Mashhadani confirms, “Resuming work in factories will also affect the dollar exchange rates in local markets, that is, when the demand for foreign imports decreases, which in turn will reduce the demand for the dollar, and this is a direct relationship.”[/size]
    [size=45]The total number of small, large and medium enterprises for the public and private sectors until 2021 is more than 27,600 establishments, a number close to what the Director of Industrial Development mentioned, who indicated that the number of existing establishments is 25 thousand, but the actual production of them, according to data from the Ministry of Industry, is 5 thousand factories. Only until 10/04/2023.[/size]
    [size=45]It is noteworthy that the gross domestic product exceeds 260 billion dollars annually in Iraq, but the industrial sector contributes only 3%, with imports dominating most of the market’s needs, according to economists.[/size]
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