Iraq: Involving foreign and local private sectors in mineral investment

INA - BAGHDAD 

The Ministry of Industry and Minerals confirmed that the investment opportunities that were presented at the Mineral, Chemical and Fertilizers Investment Conference in early May will provide important economic gains, including meeting the local need and providing many job opportunities, while noting that the ministry has prioritized the involvement of the local and foreign private sectors in the field of mineral investment.

"PM Muhammed S. Al-Sudani issued several directives during the convening of the Mineral, Chemical and Fertilizers Investment Conference at the beginning of this May, which included openness to investment and attracting real investors with technical capabilities and competence," said the spokeswoman for the Ministry of Industry, Duha Al-Jubouri, to the Iraqi News Agency - INA.

She added, "The Prime Minister called for benefiting from the stable security and attractive economic environment and initiating the implementation of projects by investing in the field of strategic industries, which will have a major role in reviving the solid industry by activating investment opportunities in partnership with the local and foreign private sectors."

"The conference represented a front for presenting and promoting important opportunities in the field of mineral investment, fertilizers, phosphates, glass and refractories, in the presence of specialized and solid companies, as well as investment companies.  The surplus of the products of these projects, the most important of which are phosphate and nitrogen fertilizers, plastic granules, chlorine, silicon and glass products, cement and others," she explained. 
 
Al-Jubouri pointed out, "The implementation of such projects would provide job opportunities and absorb unemployment in the available companies, as well as securing financial inputs to improve the economic situation of our companies via its share of the revenues of financial companies' contracts."

"Among the opportunities that were presented were the establishment of a phosphate industries complex in Anbar Governorate, a new plant for nitrogen fertilizers in Basra Governorate, another plant for nitrogen fertilizers in Salah Al-Din Governorate, the establishment of two environmentally friendly factories in the governorates of Nineveh and Najaf for cement production, and the establishment of a factory for the production of sodium carbonate (Spray Soda) in Anbar Governorate and Al-Faw Complex for Petrochemical Industries in Basra Governorate, and projects for silicon industries in Anbar Governorate," she included.