The Minister of Industry and Minerals, Manhal Aziz, announced the imminent opening of 5 new factories during the coming period, while noting that changing the exchange rate would allow competition to the local product.
Manhal Aziz said in a statement to Al-Iraqiya News, which was followed by the Iraqi News Agency (INA): "The ministry started with a real plan to revive 17 factories that were previously idle, and succeeded in opening 12 of them, while 5 others will be opened and restored to work during the next six months."
He added, "After 2003, the ministry was marginalized, in addition to the great destruction of the infrastructure and many production lines," noting that it "owns 225 factories today, out of which about 83 are completely idle."
And that "the ministry's plan is to revive these factories, employ manpower and increase national production."
Aziz continued, "The change of the dollar exchange rate provided the opportunity for the Iraqi producer to be a real competitor, pointing out that the ministry with its new plan greatly supports the private sector for its role in reviving the national industry."