He confirmed the government's strong approach to sponsoring manufacturing industries...Mazhar Muhamm

POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]

[size=52]He confirmed the government's strong approach to sponsoring manufacturing industries...Mazhar Muhammad defines the pillars of the industrial renaissance in Iraq[/size]

[size=45]He confirmed the government’s strong intention to sponsor the manufacturing industries... Mazhar Muhammad outlines to Al-Zawraa the pillars of the industrial renaissance in Iraq
[You must be registered and logged in to see this image.]
02/11/2024
Mustafa Falih:
The government’s financial advisor, Mazhar Muhammad Salih, identified the pillars of the industrial renaissance in Iraq, while affirming the government’s strong intention to sponsor the industries. Manufacturing, especially the pharmaceutical industry.
Saleh said in an interview, “Due to many factors, the art of industry deteriorated, whether during the period of the economic blockade, and technology lagged behind. After 2003, there was trade openness and commodity dumping, which led to the almost end of crafts and industries, with the exception of some construction industries that remained steadfast, such as the cement and brick industry, and some basic industries and crafts that are steadfast, but they are not Enough to meet the country’s development needs.”
He added, "Today there is a strong direction from His Excellency the Prime Minister to personally take care of the manufacturing industry and start and proceed with the pharmaceutical industry. As is known, the country today is infested with corrupt medicines, unknown medicines, and so on."
He stressed that “the private industrial sector has expressed its willingness to cover about 50% of the market’s need for comprehensive and basic medicines that are consumed, with the exception of rare medicines, as this is a special situation,” stressing that the renaissance will start from the pharmaceutical sector, the manufacturing industry, and the industrial partnership conference in Basra, in which it was stated that the state pledges to introduce factories. New ones from Western European countries (Germany, Italy), South Korea, China and the United States with strong industrial countries and
the introduction of industrial technology with a state guarantee of 85% sovereign guarantees and the rest the private sector. I believe that care for the industrial sector will begin effectively and correctly and with advanced technology.”
He stated, “There are many imported industries that we can dispense with and that can be manufactured easily and cover the market’s needs to a large extent.”
He pointed out that “the state wants to increase the contribution to the gross domestic product, and today the problem of the industrial sector is that industrial competitiveness is very weak. The latest report says that the annual Iraqi per capita share of Iraqi industrial exports, that is, the industrial goods that we export, is $4, and the per capita share of transformative industrial production, that is, the manufacturing industry within the country.” Of the production produced and consumed, excluding exports, $108 is very little at a time when the per capita share of the national income in the gross domestic product, all five thousand dollars, came from oil and the role of the oil sector in the economy, and this is a truly dangerous unilateral economy.”
He explained, “The national strategy for developing the private sector is to increase the private sector’s contribution to the domestic product from 37% to 55% over the next ten years, and this comes primarily from the contribution of the transformative industrial sector and not the extractive industry.”
Regarding the pillars of the industrial renaissance, he stated that “the renaissance requires a program and policy, and without a program and policy it does not work, protecting the national product and placing it in the circle of competition, resisting very cheap foreign imports as well, customs policies, tax policies, and investment policies all protect, give exemptions, and give a market. For example, the pharmaceutical industry is one of the guarantees.” The Iraqi Ministry of Health is ready to absorb all the production, and this is a great guarantee provided that the production is at the required level and the required global standard for health and for everything. In return, these factories guarantee that the Iraqi market is the one that absorbs it, is protected from any foreign imports, and is provided with protection such as the product protection law.”
He pointed out the necessity of “creating partnerships with a foreign private sector to transfer technology and information. This is how countries begin, and there is nothing wrong with starting with small and medium factories, and it is not necessary for them to be large. Today, small and medium industries absorb 60% of the labor force in the entire world, and we can say that they are the sponge that absorbs unemployment.”[/size]
[size=45][You must be registered and logged in to see this link.]