Economist: launching a financial initiative and debt forgiveness to develop the industrial sector

Economist: launching a financial initiative and debt forgiveness to develop the industrial sector



2019-12-12 | 06:11

Ghadeer Al-Attar, a member of the Iraqi National Business Council, said Thursday that the launch of a financial initiative and debt forgiveness is enough to develop the industrial sector.

Al-Attar said in a statement that Alsumaria News received a copy of it that "the evaluation and success of the industrial reality in Iraq requires several things that must be implemented by the relevant authorities, noting that" the next industrial policy should focus on building local capacities to finance the development of local sectors in manufacturing, in addition To "Supporting SMEs Provides Consulting and Financing Services Programs".

Al-Attar added that " the Central Bank of Iraq should launch an initiative to support the industrial sector, and enhance the competitiveness of local products, which include providing loans with less interest, and dropping interest on debts from troubled factories, if any."
 
Al-Attar called for "launching the economic reform program in line with the interest in the industrial sector and resolving the crises facing it, preparing the infrastructure and completing all factors related to supporting the national product."
 
It is noteworthy that industrial food production decreased significantly after 2003 as a result of the looting and robberies that took place at that time, in addition to the aging of factories and not modernizing them.

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