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[size=36]Industry announces success in attracting investment funds worth $3.5 billion[/size]
Political | 07:52 - 10/14/2024
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Mawazine News - Baghdad
The Ministry of Industry announced today, Monday, the launch of 255 opportunities for partnership with the private sector in various fields, and while confirming the attraction of investments worth $ 3.5 billion, it explained the importance of the Industrial Partnerships Forum that was held recently.
The Director General of the Ministry's Investment Department, Adel Al-Jubouri, told the official agency: "The Industrial Partnerships Forum that was held recently came as a continuation of previous forums and conferences, as the ministry held the Mining Investment Conference in May of last year, as well as a partnership forum in Basra Governorate in December of the end of 2023, through which approximately 120 opportunities for partnership with the private sector were announced, with 30 opportunities in the conference and 90 in the forum," explaining that "the forum is a continuation of what was announced and what we have reaped from investments and successful experiences."
He added, "These opportunities were represented in investing in mineral resources, mechanical industry, electrical industry, pharmaceutical industry, construction industry and others, in addition to announcing the development of two industrial cities, the first in Basra and the second in Dhi Qar Governorate," noting that "Arab and foreign investors and companies of various specializations participated in the forum."
He added that "a number of companies have begun to submit their offers to obtain opportunities for partnership with the private sector and public formations," explaining that "the government's direction has begun to move towards supervising and following up on industrial projects, and supporting the private sector by establishing projects by the private sector itself or partnership projects with public sector companies."
He stated that "during the announced opportunities, we attracted funds amounting to 3.5 billion dollars, in investing in mineral resources and phosphate fields in Akashat and sulfur fields in Mishraq, thus there is economic feasibility to attract foreign capital to invest inside Iraq and then grow industries."
He stated that "this also aims to employ workers and for our public companies to obtain a free share of the profits from these projects, which will generate industrial integration towards self-sufficiency in these industries."
He stressed that "among the conditions set for announcing previous and current opportunities is the employment of workers, as any project established in any industrial area will be the nucleus of social benefits, as there will be cities built near these projects and infrastructure, cladding, electricity and water projects, leading to an integrated social fabric around these projects," noting that "the results will be positive not only in terms of employment, but also in terms of establishing cities adjacent to these industrial projects."
He stated that "the total number of opportunities launched previously was 120, and now 135 opportunities have been launched, so the total is 255 opportunities, and we are moving forward with that," noting that "we have opened the door to any Iraqi, Arab or foreign investor. Whoever has an idea to establish a project, there is no objection to concluding partnership contracts to implement these ideas."
The Director General of the Ministry's Investment Department, Adel Al-Jubouri, told the official agency: "The Industrial Partnerships Forum that was held recently came as a continuation of previous forums and conferences, as the ministry held the Mining Investment Conference in May of last year, as well as a partnership forum in Basra Governorate in December of the end of 2023, through which approximately 120 opportunities for partnership with the private sector were announced, with 30 opportunities in the conference and 90 in the forum," explaining that "the forum is a continuation of what was announced and what we have reaped from investments and successful experiences."
He added, "These opportunities were represented in investing in mineral resources, mechanical industry, electrical industry, pharmaceutical industry, construction industry and others, in addition to announcing the development of two industrial cities, the first in Basra and the second in Dhi Qar Governorate," noting that "Arab and foreign investors and companies of various specializations participated in the forum."
He added that "a number of companies have begun to submit their offers to obtain opportunities for partnership with the private sector and public formations," explaining that "the government's direction has begun to move towards supervising and following up on industrial projects, and supporting the private sector by establishing projects by the private sector itself or partnership projects with public sector companies."
He stated that "during the announced opportunities, we attracted funds amounting to 3.5 billion dollars, in investing in mineral resources and phosphate fields in Akashat and sulfur fields in Mishraq, thus there is economic feasibility to attract foreign capital to invest inside Iraq and then grow industries."
He stated that "this also aims to employ workers and for our public companies to obtain a free share of the profits from these projects, which will generate industrial integration towards self-sufficiency in these industries."
He stressed that "among the conditions set for announcing previous and current opportunities is the employment of workers, as any project established in any industrial area will be the nucleus of social benefits, as there will be cities built near these projects and infrastructure, cladding, electricity and water projects, leading to an integrated social fabric around these projects," noting that "the results will be positive not only in terms of employment, but also in terms of establishing cities adjacent to these industrial projects."
He stated that "the total number of opportunities launched previously was 120, and now 135 opportunities have been launched, so the total is 255 opportunities, and we are moving forward with that," noting that "we have opened the door to any Iraqi, Arab or foreign investor. Whoever has an idea to establish a project, there is no objection to concluding partnership contracts to implement these ideas."
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