Ministry of Industry directed to support the private sector and attract investors

Economy

29-05-2021, 11:30

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Baghdad-INA

Ministry of Industry and Minerals confirmed its intention to support the private sector and attract sober companies and investors

ministry’s spokesman, Mortada Al-Safi, to Iraqi News Agency (INA), that the ministry after Manhal Aziz Al-Khabbaz took over the minister's duties, adopted a national project and a targeted plan in three short, medium and long-term phases to rehabilitate and operate the stalled laboratories throughout Iraq.

Al-Safi added, the ministry has started since May 2020, in the short-term plan, and 15 factories, projects and production lines have been operated and opened out of the total of the stalled factories, which amounted to (83) Factories and laboratories.

Concerning investment plans and attracting investors, Al-Safi explained, the ministry has re-evaluated the participation and investment contracts for the purpose of canceling the lagging contracts and continuing with successful contracts, pointing out that there are many contracts that did not achieve economic feasibility and its goal.