Sudanese announces growth in non-oil economic domestic product in Iraq to reach 6%
Sudanese announces growth in non-oil economic domestic product in Iraq to reach 6%
2024-03-09 03:03
Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani announced on Saturday that growth in non-oil economic domestic product in Iraq had been recorded, reaching 6 percent.
This came in a speech he delivered during the opening of the rolling mill, one of the factories of the General Iron and Steel Company in Basra, which he arrived on Saturday morning, to follow up and open a number of strategic industrial and service projects.
Al-Sudani mentioned in his speech that international financial institutions recorded growth in the non-oil economic domestic product, which reached 6%, which is an encouraging and positive percentage, and can be increased.
He stressed that Basra no longer only hosts Iraq’s ports and oil production, but has become an industrial incubator for the weight of government industry and private sector industry alike, and thus it deserves the description (the economic capital of Iraq).
Al-Sudani added, “Today we open the rolling mill, and after a short time we will open the steel factory, to complete the cycle of iron production and manufacturing with all choices and types,” noting that “these factories were implemented according to the latest production lines from international origins, and represent an important opportunity to cover the need of the local market.”
He also pointed out that the operation of this factory will enable Iraq to reduce the import of iron, preserve foreign currency and provide a national product and new job opportunities.
The Prime Minister went on to say that: Every direct job opportunity in the industrial sector means providing 4-6 other indirect job opportunities in the corresponding economic sectors.
Al-Sudani stressed that residential cities and urban renaissance represent an entitlement, and we await the provision of the outputs of this factory. To be the most important source of covering the need for iron.
He stressed that the reality of agriculture requires the provision of fertilizers, to secure food and to rely on our own efforts.
The Prime Minister pointed out that completing the Al-Faw port, initiating the development road project and the economic city, and reviving factories all require the combined efforts of those concerned in the federal and local governments.
He continued by saying, “We emphasize the reform aspect we are adopting related to the automation of customs, to ensure revenues for the state, regulate the entry of imports in accordance with the law and controls, regulate trade, and block the way for manipulators and exploiters.”
The rolling mill is one of the factories of the General Iron and Steel Company, which has been discontinued since 2003. During the past years, there have been procedures and plans to implement an integrated project to rehabilitate iron and steel factories, which includes (the rolling mill, the steel factory, and their engineering services).
The rolling mill, along with the steel factory and the engineering services attached to them, primarily feeds the local consumption need for rebar, with a production capacity of up to 500 thousand tons annually, within the latest international standards, and according to an automated production process, and programmed electronic control.
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