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Industry: 190 investment projects under approval
Economy News _ Baghdad
"After the amendment of the investment law, the number of contracts and announced opportunities reached 84 in the year 2019, and the number of available ones, which take their actions to the announcement, is 190 investment opportunities," said Associate Director General of the Investment Department at the Ministry of Industry and Minerals, Adel Ahmed Shabib.
Shabib added in an interview with the official newspaper "Al-Sabah" and seen by "Al-Iqtisad News", in light of the announcement: "61 investment projects have been signed, many of which have been implemented, and others are under implementation, but if the second party fulfills its obligations within two years, it will be an opportunity to implement the rest, to Besides the conclusion of 43 contracts, including cement and construction materials factories, the year 2019 is considered the best implementation year in comparison to 2018.
Shabib indicated that "in the year 2020 we have 12 announced investment plans and we hope in 2021 that the rest of the implementation will be completed and entered into production, and that more than 43 percent of the implementation process started and the production lines started working."
He stated that "the department has entered into partnerships and concluded partnership contracts with companies specialized in the cement industry, fertilizer industry, electrical industries and plastic pipe industries, and emphasized that these posts included the private sector, provided that he obtained a certificate from a discreet and specialized foreign technical company."
Shabib emphasized that "the protection of the product is still below the required level because the issue of energy and its wages need the support of the Ministry of Electricity, but we have carried out many actions though, and more importantly, the competitor in the local market does not match the specifications approved by our public companies, as well as an awareness of The public is of the importance of encouraging the national product and not going to the cheap goods, which requires a comeback, by tightening control at the border outlets regarding the goods entering and competing with our goods that comply with the specifications. "
Shabib pointed out that "the ministry relies (on two types) in concluding its investment contracts, which are rehabilitation and operation contracts of suspended factories, and partnership contracts to install new production lines or create new integrated industrial projects."
He pointed out that "Law No. 336 of 2017 regarding supporting and activating the partnership with the private sector, and that approves the recommendations of the preparatory meeting for the Iraqi Economic Development Conference, contributed to facilitating the conclusion of investment contracts to rehabilitate and operate stalled lines or to install new production lines or create new projects."
He stressed that "this serves the work of the Ministry in the rehabilitation and operation of production plants or for the conclusion of partnership contracts that may obtain an investment license from the National Investment Commission."
Shabib explained that "investment began in the ministry in partnership with Arab and local private sector companies after allocating lands, which the state was able to provide a part of to establish these
He continued: "It can be said that the investment began in the Ministry of Industry during the years 2009 and 2010, according to the Public Companies Law No. 22 of 1997 and Article 15 / III of it, which indicates that public companies have the right to invest their surpluses in the implementation of projects that are identical to their internal system and within this article. Experiments began in the cement factory and fertilizer factories. "
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