New decisions.. Iraqi government: The private sector has a prominent and influential role in supporting industrial projects

New decisions.. Iraqi government: The private sector has a prominent and influential role in supporting industrial projects

2024-12-17

New decisions.. Iraqi government - The private sector has a prominent and influential role in supporting industrial projectsThe Iraqi government confirmed, today, Tuesday (December 17, 2024), the prominent and influential role of the private sector in supporting industrial projects, while indicating that it has issued many decisions to support this sector.

The Prime Minister’s Media Office said in a statement that “within the framework of government efforts aimed at supporting industrial projects, in a way that contributes to achieving sustainable development, strengthening the national economy and increasing job opportunities, Prime Minister Mohammed Shia al-Sudani issued a directive to form a joint committee from the relevant authorities, which was responsible for preparing mechanisms for lending to industrial projects, and the necessary controls to determine the amounts of reservation and extinction of the guarantees provided for those loans.”

He added that “the Council of Ministers approved the committee’s recommendations on December 9, 2024, and the new instructions included implementing the Prime Minister’s directives to provide loans with reduced interest and easy terms, with the aim of facilitating the establishment of new industrial projects, in cooperation with the main government banks, to ensure financial support for investors in the industrial sector.”

He stressed that “the Iraqi government aims for the private sector to have a prominent and influential role in supporting industrial projects, by increasing its investments in this field, to establish and operate factories and develop new ideas that meet the needs of the local market, with the importance of bringing in expertise and modern technologies from specialized international companies.”

He continued: “It practically and effectively seeks to achieve the goal of developing industrial projects with environmental sustainability, and supporting the community through social responsibility programs that companies and factories are committed to.”

The office concluded its statement by stressing the Iraqi government’s “continuous efforts to enhance cooperation with the private sector, leading to a comprehensive industrial renaissance that achieves benefits for both sides and for the national economy in general.”

burathanews.com