INA - BASRA

Minister of Industry and Minerals, Khalid Al-Najim, confirmed on Tuesday that the Iraqi industrial sector needs strategic partnerships with local and international investors.

"In light of the lack of financial capabilities and the challenges we face, we believe that the best solution to revitalize the national industry is to resort to investment in the private sector, and this is not just talk but has been embodied practically through organizing three investment conferences," stated the Minister of Industry in a statement to the Iraqi News Agency - INA.

He noted that "the first conference was held in May, the second in December in Basra, and the third about a month ago, and through these conferences, we presented 135 investment opportunities, as we are fully convinced that no other solution can be found except investment, this is an existing reality, and not just a desire to move towards the private sector."

"The status of local companies is known, as is the status of the financial budget. Therefore, if we want to achieve progress and advance the national industry, we must seek local and international strategic partnerships with local or foreign investors to stimulate the wheel of industrial production and keep pace with development in various industrial sectors, whether at the strategic or detailed level," he explained.