Economy News – Baghdad
The Ministry of Industry announced on Monday the launch of 255 opportunities for partnership with the private sector in various fields, and while confirming attracting investments worth $3.5 billion, it explained the importance of the Industrial Partnerships Forum held recently.
The Director General of the Ministry’s Investment Department, Adel Al-Jubouri, said in a statement reported by the official news agency, and seen by “Economy News”, that “the recently held Industrial Partnerships Forum was as a complement to previous forums and conferences, where the Ministry held the Mining Investment Conference in May last year as well as a forum for partnerships in Basra governorate at the end of 2023, through which nearly 120 opportunities were announced to partner with the private sector at a rate of 30 opportunities in the conference and 90 in the forum,” explaining that “the forum is a continuation of what has been announced and what we have made and successful experiences.”
He added that “these opportunities were represented in an investment in mineral wealth, 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,” pointing out that “the forum was attended by Arab and foreign investors and companies of various disciplines.”
He added that “a number of companies have begun to make their offers in obtaining opportunities to partner with the private sector and public formations,” explaining that “the government’s direction has begun to move towards the supervision and follow-up of industrial projects, and support for the private sector through the establishment of projects by the private sector itself or partnership projects with public sector companies.”
He stated that “during the announced opportunities, we have attracted funds of up to 3.5 billion dollars, in investment in mineral wealth and phosphate fields in Akashat and sulfur fields in Mashraq, so there is economic feasibility to attract external capital invested inside Iraq and then grow for industries.”
He stated that “this also aims to employ the workforce and obtain our public companies a free share of the profits from these projects, which will generate industrial integration towards the self-sufficiency of these industries.”
He stressed that “one of the conditions that set for the declaration of previous and current opportunities is the employment of labor, as any project that arises in any industrial area will be the nucleus of social benefits, as there will be cities built near these projects and infrastructure projects, electricity and water to an integrated social fabric around these projects,” pointing out that “the results will be positive not in terms of employment, but it is possible to establish cities adjacent to these industrial projects.”
He stated that “the total number of what was previously launched is 120 opportunities and now 135 opportunities have been launched, so the total is 255 opportunities and we are conting to do so,” pointing out that “we opened the door to any Iraqi, Arab or foreign investor. Whoever has an idea to establish a project does not mind concluding partnership contracts to implement these ideas.”
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Added 2024/10/14 – 8:04 PM
