IRAQ IS TAKING SIGNIFICANT STEPS TO REJUVENATE IRAQ'S INDUSTRIAL SECTOR BY DINAR REVALUATION, 15 AUGUST

PM Al-Sudani unveils plans to revitalize Iraq's industrial sector

Shafaq News/ The newly reformed Industrial Coordination Council, chaired by Iraqi Prime Minister Mohammed Shia Al-Sudani, held its inaugural meeting on Wednesday, signaling a renewed commitment to revitalizing Iraq's industrial sector. 

According to Al-Sudani's media office, the council, tasked with addressing longstanding challenges and promoting industrial development, adopted a series of strategic decisions aimed at bolstering national industry.

In his opening remarks, the Prime Minister emphasized that the council is "responsible for advancing the industrial sector by making decisions that will enhance industrial development and address all obstacles facing Iraqi industry."

Al-Sudani directed that the council's meetings prioritize key issues identified by a supporting committee, which includes directors-general from ministries involved in the industrial sector. He also called for the inclusion of officials responsible for industry-related agencies and entities in these discussions, underscoring the need for a comprehensive approach to industrial development.

Another point of discussion was the integration of industrial efforts between the Kurdistan Region and other governorates of Iraq. "Large markets, to be activated by the Ministry of Trade in cooperation with the private sector, will serve as venues for showcasing locally manufactured products. He also noted the progress made in localizing pharmaceutical and construction material industries."

The Prime Minister highlighted that the current administration has been proactive in identifying and addressing the challenges facing Iraqi industry since the beginning of its term. He cited promising partnerships with major industrial nations such as Japan, Germany, and France, supported by sovereign guarantees, as critical steps towards revitalizing the sector.

During the meeting, the council reviewed working papers presented by the Ministries of Electricity and Industry, as well as advisors to the Prime Minister's Office. These documents outlined strategies for industrial development and proposed enhanced cooperation between the private sector and government ministries.

https://shafaq.com/en/Economy/PM-Al-Sudani-unveils-plans-to-revitalize-Iraq-s-industrial-sector

ANALYSIS

Iraqi Prime Minister Mohammed Shia Al-Sudani is taking significant steps to rejuvenate Iraq's industrial sector. The newly reformed Industrial Coordination Council, under his leadership, recently convened to tackle longstanding issues and push for industrial growth.

Key points from the inaugural meeting include:

• Council Responsibilities: The council is charged with overcoming obstacles in the industrial sector and advancing its development through strategic decisions.
• Inclusive Approach: Al-Sudani stressed the importance of involving officials from relevant ministries and industry agencies to ensure a comprehensive strategy.
• Regional Integration: Efforts will be made to better integrate industrial activities between the Kurdistan Region and other parts of Iraq.
• Market Activation: Plans include creating large markets, in collaboration with the private sector, to showcase and promote locally manufactured products.
• International Partnerships: The administration is actively pursuing partnerships with industrialized nations such as Japan, Germany, and France, backed by sovereign guarantees.

The council also reviewed documents from the Ministries of Electricity and Industry, focusing on strategies for industrial advancement and enhanced cooperation with the private sector.