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Despite owning a third of the world's reserves alone.. What are the reasons for Iraq not investing in sulfur yet?
Politics | Yesterday, 16:05 |
Baghdad today - Baghdad
Today, Monday (June 24, 2024), Industrial Development and Investment Consultant Amer Al-Jawahiri reviewed the reasons for Iraq’s failure to invest in sulfur and minerals in general so far, despite the fact that it alone contains a third of the world’s sulfur reserves. Al-Jawahiri told "Baghdad Today",
"The actual, sound and feasible investment in mineral resources is not only by extracting and exporting them,
but more importantly by manufacturing them so that they are transformed into products that are consumed locally and entered into other industries and by exporting those products.
Thus, they will be an actual factor
supporting economic diversification,
increasing sources of income, and
increasing the area of Economic activity and
increased job opportunities.” He stated,
“No matter the quantities of mineral resources in Iraq, there must be a clear strategy to balance their manufacturing and exporting them as raw materials.
Therefore, the recommendation came to establish a Minerals Council in the industrial strategy in Iraq until 2030, which was approved in the Council of Ministers in June 2014.
In this regard, we recommend establishing this council.” In parallel with activating the steps to implement that strategy and restructuring the Industrial Coordination Council in order to consider and move towards the industrial sector in a comprehensive and sustainable manner.” He added,
"Iraq has faced difficulties and conflicts regarding sulfur investment since the sixties of the twentieth century, including international competition and the constraints that prevent developing countries from being able to invest and industrialize their wealth, develop their economies, and enhance the independence of their decisions.
Indeed, there was conflict, competition, obstacles, alignment, decisions, and steps taken to agree on the technology." And the implementation of the Mishraq sulfur project, which relied on exporting the majority of its production.” He continued:
“Therefore, investing in mineral wealth and developing local industry in Iraq is entirely linked to decisions and steps that blend with political-economic trends and depends on the independence of decision, will, and real ability to bring about comprehensive economic development with a clear strategy and sincere national professional tools for implementation.
Likewise, investing in sulfur as well as The rest of the mineral wealth is completely related to the above, as the trends will be political par excellence, or more precisely, political - economic - social - professional.” He stressed,
"Therefore, we see that Iraq, not since 2003, but since the last major projects in the mid-eighties, coinciding with the devastating wars, has been content with statements and wishes.
Most importantly, investing in mineral wealth requires attracting major international companies that have technology and executive, operational, and marketing expertise for the products that are supposed to be outputs."
Therefore, we see and expect that there will be no actual activity unless we move to attract major companies and ally with them.” Al-Jawahiri continued,
“These indicators show where we are in Iraq, the goals we want to achieve, the extent of the economic-national dimension of those goals, and the mechanisms for achieving them.
Also, reality still indicates a major weakness in the business environment and in professionalism, transparency, flexibility, durability, and speed of procedures, with the need for monitoring means and tools.” Evaluation and follow-up,
let us not forget that developing trends in investing in mineral resources in a sustainable way that contributes to the development, diversification and strengthening of the Iraqi economy is a goal that may not satisfy many competitors and others who put sticks in the wheel of development, not least by just talking about these projects and perhaps signing projects with small players who are not of stakeholders, resulting in the non-exploitation and industrialization of these wealth.”
The industrial development and investment consultant concluded by saying,
“Therefore, the missed opportunities and losses will be continuous and very large because time is not on the side of those who stop, not to mention that the intensity of competition imposes the strength and professionalism of the local team to manage each project.
It is also worth noting that the principle that mineral wealth belongs to the whole must be adopted.”
The Iraqi people, as well as the oil wealth, in addition to that we recommend a comprehensive restoration of the method of managing this file and the formation of a professional team to invest every mineral wealth in coordination with an international consultant.”
Iraq possesses 400 million tons of sulfur reserves, meaning that Iraq alone possesses a third of the sulfur in the world, making it the largest holder of sulfur reserves in the world.
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Politics | Yesterday, 16:05 |
Baghdad today - Baghdad
Today, Monday (June 24, 2024), Industrial Development and Investment Consultant Amer Al-Jawahiri reviewed the reasons for Iraq’s failure to invest in sulfur and minerals in general so far, despite the fact that it alone contains a third of the world’s sulfur reserves. Al-Jawahiri told "Baghdad Today",
"The actual, sound and feasible investment in mineral resources is not only by extracting and exporting them,
but more importantly by manufacturing them so that they are transformed into products that are consumed locally and entered into other industries and by exporting those products.
Thus, they will be an actual factor
supporting economic diversification,
increasing sources of income, and
increasing the area of Economic activity and
increased job opportunities.” He stated,
“No matter the quantities of mineral resources in Iraq, there must be a clear strategy to balance their manufacturing and exporting them as raw materials.
Therefore, the recommendation came to establish a Minerals Council in the industrial strategy in Iraq until 2030, which was approved in the Council of Ministers in June 2014.
In this regard, we recommend establishing this council.” In parallel with activating the steps to implement that strategy and restructuring the Industrial Coordination Council in order to consider and move towards the industrial sector in a comprehensive and sustainable manner.” He added,
"Iraq has faced difficulties and conflicts regarding sulfur investment since the sixties of the twentieth century, including international competition and the constraints that prevent developing countries from being able to invest and industrialize their wealth, develop their economies, and enhance the independence of their decisions.
Indeed, there was conflict, competition, obstacles, alignment, decisions, and steps taken to agree on the technology." And the implementation of the Mishraq sulfur project, which relied on exporting the majority of its production.” He continued:
“Therefore, investing in mineral wealth and developing local industry in Iraq is entirely linked to decisions and steps that blend with political-economic trends and depends on the independence of decision, will, and real ability to bring about comprehensive economic development with a clear strategy and sincere national professional tools for implementation.
Likewise, investing in sulfur as well as The rest of the mineral wealth is completely related to the above, as the trends will be political par excellence, or more precisely, political - economic - social - professional.” He stressed,
"Therefore, we see that Iraq, not since 2003, but since the last major projects in the mid-eighties, coinciding with the devastating wars, has been content with statements and wishes.
Most importantly, investing in mineral wealth requires attracting major international companies that have technology and executive, operational, and marketing expertise for the products that are supposed to be outputs."
Therefore, we see and expect that there will be no actual activity unless we move to attract major companies and ally with them.” Al-Jawahiri continued,
“These indicators show where we are in Iraq, the goals we want to achieve, the extent of the economic-national dimension of those goals, and the mechanisms for achieving them.
Also, reality still indicates a major weakness in the business environment and in professionalism, transparency, flexibility, durability, and speed of procedures, with the need for monitoring means and tools.” Evaluation and follow-up,
let us not forget that developing trends in investing in mineral resources in a sustainable way that contributes to the development, diversification and strengthening of the Iraqi economy is a goal that may not satisfy many competitors and others who put sticks in the wheel of development, not least by just talking about these projects and perhaps signing projects with small players who are not of stakeholders, resulting in the non-exploitation and industrialization of these wealth.”
The industrial development and investment consultant concluded by saying,
“Therefore, the missed opportunities and losses will be continuous and very large because time is not on the side of those who stop, not to mention that the intensity of competition imposes the strength and professionalism of the local team to manage each project.
It is also worth noting that the principle that mineral wealth belongs to the whole must be adopted.”
The Iraqi people, as well as the oil wealth, in addition to that we recommend a comprehensive restoration of the method of managing this file and the formation of a professional team to invest every mineral wealth in coordination with an international consultant.”
Iraq possesses 400 million tons of sulfur reserves, meaning that Iraq alone possesses a third of the sulfur in the world, making it the largest holder of sulfur reserves in the world.
[You must be registered and logged in to see this link.]
