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On: Sat 07/30/2011 8:01
Baghdad / follow-up term economic
Iraq have agreed with the Czech company to invest in the company of Iron and steel that were damaged after the US-led war to topple the former regime, the spring of 2003.
Iraq is trying - but slowly - qualifying his companies obsolete to build its shattered economy and rely on its own at the end of the day .
It impedes the recovery of companies and factories, high electricity costs and neglect and the number of workers large who can not be laid in state-owned factories and the lack of investment and the influx of cheap imports.
The company is located of Iron and Steel sprawling in the province of Basra, about 550 km south of the Iraqi capital Baghdad.
He said a media source the beginning of from the Ministry of Industry and Minerals, told the Kurdish news agency (Rn) that her department agreed with the Czech Republic to facilitate the bureaucratic obstacles and administrative standing in front of the company's investment of Iron by the company (Vicofas Mhinery Group) Czech to improve the level of production. "
According to the Ministry of Industry and Minerals, the 14 of the companies reached their profits to 100% with raised 60 companies other level of profits in their projects.
The source added that "a meeting was held recently between the Deputy Minister of Industry and Minerals for development and investment fair cream and the Ambassador of the Czech Bronislava Tomasova to discuss the impediments to investment Company for the manufacture of iron."
He said that Tomasova provided official invitation of the Government to the Minister of Industry for the involvement of the Czech Republic in developing the production of industrial companies and the development of economic relations between the two countries.
Still, most factories in Iraq does not work after more than eight years of the invasion led by the United States, many of which to the looting, while some in areas still deemed to be unsafe, one of the causes of unemployment in the country.
The government announced it had decided to merge the private companies with some of them and evaluate their work through training, and also said it launched a program to develop cadres of factories and companies, in coordination with the Ministry of Finance.
The reports of non-governmental organizations concerned with the economic aspect to the that Iraq has lost since the last four years more than $ 180 billion because of its reliance on imported goods as a result of the decline in its domestic industry.
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