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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


    Operating Iraqi factories... citizens' hope and influential merchants' obstacle

    Rocky
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    • Post n°1

    Operating Iraqi factories... citizens' hope and influential merchants' obstacle Empty Operating Iraqi factories... citizens' hope and influential merchants' obstacle

    Post by Rocky Sat 09 Nov 2024, 4:48 am

    [size=38]Operating Iraqi factories... citizens' hope and influential merchants' obstacle[/size]


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    November 9, 2024[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala: Economic analyses indicate that the continued closure of a large number of government factories in Iraq, such as clothing, leather, and home furniture factories, constitutes a serious obstacle to achieving any sustainable economic growth.
    Experts say the country’s near-total dependence on oil revenues, particularly to pay the salaries of millions of employees, is leading to economic stagnation that is making the country even more fragile and hampering any attempts to revive the industrial sector. A recent blog post commented on the situation, saying: “No industry, no self-sufficiency, as if we have nothing but oil to keep Iraq afloat.”
    According to economic expert Nabil Al-Marsoumi, more than 50% of the factories registered in Iraq are out of service, even though the country has about 67,000 factories registered with the Federation of Industries.
    Some citizens are wondering about the reason behind this stagnation, as one of them tweeted: “How can a country with this number of factories be unable to provide even basic products to its citizens? Who is responsible?” It seems that the absence of campaigns that encourage the purchase of local and national products is part of this crisis, as sources have said that companies working in imports are benefiting from a segment of influential merchants who do not want Iraqi factories to return to work, due to the harm it could cause to their commercial interests.
    In the same context, the country has witnessed in recent months a movement by some Iraqi investors seeking to revive the local industry. According to information circulating among these investors, there is a strong desire to advance the industrial sector, but it is hindered by several challenges, most notably the lack of sufficient government support and fierce competition with imported products that easily flow into the Iraqi market. An economic analysis has indicated that strengthening the local industry will contribute to achieving at least relative self-sufficiency, especially in basic sectors, and will reduce dependence on foreign imports.
    In a move that may suggest a new direction, Prime Minister Mohammed Shia al-Sudani confirmed last September that his government has no intention of privatizing government companies, indicating that the government’s efforts are directed towards the industrial sector to cover the needs of the local market and export the surplus, a move that may be the beginning of an economic renaissance in Iraq if it is actually achieved.
    However, Engineer Kazem Abbas says that “verbal steps are no longer enough, and the Iraqi economy does not need promises but realistic measures.”
    In a related context, Engineer Aref Hassan said in a comment on social media: “The continued neglect of local factories and plants will only lead to an exacerbation of poverty and unemployment rates, and will create an unstable social environment, as there is no growth without industry.”
    With increasing social and economic pressures, expectations indicate that if Iraq continues to neglect local industry, this could lead to serious political consequences, as citizens will lose confidence in the government’s ability to improve their living conditions.
    According to proactive estimates, the return of life to Iraqi factories and plants requires real political will and intensive government support to create a suitable environment for investment domestically.
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