Expert: optimistic about the return of Iraqi industry to normal

Expert: optimistic about the return of Iraqi industry to normal

01.22.2016 

BAGHDAD - Wisdom: announced member of the Iraqi Federation of Industries management that the current financial distress is (harmful - useful) Iraq Rei country and the amounts of oil spent on the operating budget, remain agriculture and industry lagging shall have no role and countries worldwide do not develop the oil, but agriculture and industry.

And confirms Jawad al-Shammari said in an interview quoted by «morning», these financial distress may lead to interest in the industry and developed because the industry does not mean revenues only, but there is added value, especially as our projects make up 98 of them small, medium and feature of these projects it depends on the work as much reliance on technology.

He pointed out that the industrial initiative consists of small craft projects and projects which are of the competence of the Union, pointing to the allocation of 1.5 trillion dinars from the central bank to private banks for distribution among these projects as loans ranging from 50 to 100 million dinars.

He explained that the union provides the names of loan applicants, but we see that the harsh conditions since the majority of borrowers do not have the safeguards of real estate as well as the possibility of repayment within three years, stressing that the Union have demanded that the repayment over five years.

He Shammari for that craft and small enterprises have a great advantage is that the stalled them unable to activate itself quickly, but they are in need of protection is tariff and without it they are prone to relapse, while the second line of industrial initiative are a private medium and large projects were monitored $ 2 trillion dinars with science that the monitoring of the initiative is 5 trillion dinars distributed among agriculture, housing and 2 trillion for the industry and account for 40 percent of the amount of initiative and approved in 2015, it did not specify the time her roof.

local industry

And the reasons for the reluctance of local industry Shammari pointed out that it had stalled after 2003, including the Bremer laws at the time they had reached maturity earlier, and became production plants produce at home, for example, leather, bricks, textile, confectionery plants, noting that all these successful laboratory evidence that we are in a period of the nineties was our labs produce high rates.

Shammari pointed out that the opening of the borders to goods from the repercussions of the poor production where our factories closed down by 95 percent and no one asks about the owners of these factories where they went.

Sector problems

Shammari pointed out that the most important industrial sector problems is the unequal competition represented by import random unplanned and bad, and is not subject to the Central Agency for Standardization and quality control specifications, as well as legislator laws since 2010 and is disabled which laws (customs tariff and consumer protection and the protection of the national product and prevent monopoly and prevent dumping) except the Consumer Protection Act, which dish is not enough, either to prevent dumping law Valyate slow application.

Union and Development

And the role of the Union in the development Shammari pointed out that the Union's multi-faceted activities is in addition to being group on projects craft and small allowed him to go to projects not covered by other laws, as well as to have active trade unionists, and confirmed the presence of the representative of the majority of ministries role regulatory and directly If development Union has, for example, 30 thousand project weakness of these projects, so I am optimistic about the industry return to normal.

Large loans

Shammari, indicates that large loans are not given by hand which is to import production lines and have the guarantees and mechanisms of action, and divided Valsgarh loans to some 500 million dinars guarantees medium-sized enterprises to some three billion dinars, while large enterprises are up to 20 trillion dinars and there are strategic projects and need larger amounts of which we have mentioned, these loans divided by the provinces and the census is one of the central bank and not from the budget.

Shammari concluded his speech by pointing out that the most important is to rent the suffering of Union law, and the indiscriminate import tariff and tariff, electricity, security and fuel.