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Foreign investment is most effective way to improve Iraqi industry, say experts
03/09/2012 16:55
BAGHDAD, Sept. 3 (AKnews) - More than 80 laboratories and state-owned companies are suffering from almost total paralysis, at the time the Ministry of Industry is suffering from the scarcity of necessary investment allocations to reinstate the infrastructure of government facilities.
Experts in the industrial sector stress the need for a clear economic strategy that takes into account the rehabilitation of laboratories and government facilities, at a time others demand allowing foreign investment and the need to increase the financial allocations within the annual budgets.
Financial expert Ali al-Fukaiki said: "The industrial sector is suffering from paralysis due to the lack of industrial policies that will improve the government factories and installations.
"Government factories are witnessing a great decline at a time the local markets are depending on foreign imports to meet the shortfall in goods.”
Economic expert Basem Abdul Hadi said: "The industrial sector lacks industrial strategy that is able to rehabilitate the stalled factories, and create other new factories to keep up the enormous development in various industries.”
The Ministry of Industry and Minerals formed an expanded committee that worked, according to experts, to put comprehensive industrial strategy and develop a number of practical solutions, at a time this strategy is still stopped without knowing the reasons behind the delay.
Abdul Hadi added that it is necessary to support the local industries and modernize the large factories through direct foreign investment, pointing to the importance of adopting plans and programs that are able to activate the industrial sector.
The economic expert Mohammed al-Shummari assured on the need to activate the laws that support local production, combat the issue of dumping commodities and give consumer protection.
"There is an urgent need to support the private sector and activate the soft loans and support small and medium-sized projects in a way that fits these projects in the creation of a large production base."
The Ministry of Industry worked during the past two years on the twinning cement industry with other global companies to improve the levels of production and meet the needs of the Iraqi market.
Economist Ali al-Qaisi highlighted the need to restructure the government installations and to privatize many of them and guarantee alternative cadres without creating a gap between employment and job opportunities. He said it is important to adopt scientific standards in the privatization.
The Ministry of Industry and Minerals announced in 2005 its intention to launch more than 18 facilities for privatization, but it faced opposition and this prompted it to make to stop the privatization issue.
Qaisi called on the government to take benefit of global experiences that preceded Iraq in the issue of privatization.
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03/09/2012 16:55
BAGHDAD, Sept. 3 (AKnews) - More than 80 laboratories and state-owned companies are suffering from almost total paralysis, at the time the Ministry of Industry is suffering from the scarcity of necessary investment allocations to reinstate the infrastructure of government facilities.
Experts in the industrial sector stress the need for a clear economic strategy that takes into account the rehabilitation of laboratories and government facilities, at a time others demand allowing foreign investment and the need to increase the financial allocations within the annual budgets.
Financial expert Ali al-Fukaiki said: "The industrial sector is suffering from paralysis due to the lack of industrial policies that will improve the government factories and installations.
"Government factories are witnessing a great decline at a time the local markets are depending on foreign imports to meet the shortfall in goods.”
Economic expert Basem Abdul Hadi said: "The industrial sector lacks industrial strategy that is able to rehabilitate the stalled factories, and create other new factories to keep up the enormous development in various industries.”
The Ministry of Industry and Minerals formed an expanded committee that worked, according to experts, to put comprehensive industrial strategy and develop a number of practical solutions, at a time this strategy is still stopped without knowing the reasons behind the delay.
Abdul Hadi added that it is necessary to support the local industries and modernize the large factories through direct foreign investment, pointing to the importance of adopting plans and programs that are able to activate the industrial sector.
The economic expert Mohammed al-Shummari assured on the need to activate the laws that support local production, combat the issue of dumping commodities and give consumer protection.
"There is an urgent need to support the private sector and activate the soft loans and support small and medium-sized projects in a way that fits these projects in the creation of a large production base."
The Ministry of Industry worked during the past two years on the twinning cement industry with other global companies to improve the levels of production and meet the needs of the Iraqi market.
Economist Ali al-Qaisi highlighted the need to restructure the government installations and to privatize many of them and guarantee alternative cadres without creating a gap between employment and job opportunities. He said it is important to adopt scientific standards in the privatization.
The Ministry of Industry and Minerals announced in 2005 its intention to launch more than 18 facilities for privatization, but it faced opposition and this prompted it to make to stop the privatization issue.
Qaisi called on the government to take benefit of global experiences that preceded Iraq in the issue of privatization.
[You must be registered and logged in to see this link.]
