Government adviser: 2025 will be a significant year for industry

INA-  Baghdad


Advisor to the Prime Minister, Hammoudi Al-Lami, confirmed on Thursday that the Cabinet issued unprecedented decisions to support the industrial sector, stressing that 2025 is the year of industry.  

Advisor to the Prime Minister, Hamoudi al-Lami, said in a statement to the Iraqi News Agency (INA): "The prime minister's visit to Iraqi factories carries clear indications that 2025 will be the year of industry."

He added that "the current government pays great attention to the industrial sector within its program, as it has taken unprecedented decisions, including granting sovereign guarantees to the private sector, which were previously limited to the government sector," noting that "these guarantees aim to establish new production lines and establish modern factories."  

He explained that "the Prime Minister stated that Iraq cannot continue to rely on oil revenues only," stressing that "the country has the elements to transform into an industrial country thanks to the availability of raw materials, industrial expertise, and a local market."

He pointed out that "the Cabinet issued a number of decisions to support the industrial sector, including reducing customs duties to almost zero, as well as providing loans with soft guarantees and low interest through the Industrial Bank and other banks, in addition to expanding existing factories and establishing new ones."  

He stressed that "the Prime Minister pointed to the need to reduce dependence on imports of various goods, and the possibility of Iraq becoming an agricultural country, especially since the country has achieved self-sufficiency in grain in 2024."  

He added that "Iraq was able to secure grain for a whole year, despite global concern about the disruption of supply due to wars," pointing out that "the government is working to establish integrated industrial cities that will be presented to developers to provide the necessary services, which promotes the establishment of new factories."

He pointed out that "the Prime Minister, called on the head of the Iraqi Federation of Industries, to urge industrialists to submit requests to protect their local products when achieving 50% of the market coverage of any product," noting that "the possibility of applying the National Product Protection Law by imposing additional duties on imported goods or even preventing their import."  

"The prime minister directed the owners of food factories to coordinate with farmers to provide production requirements, for example, supporting dairy farmers to provide milk to dairy production factories and dairy products," al-Lami said.  

He stressed that "the Prime Minister is keen to hold workshops every three months with industrialists, to discuss their problems and respond to their needs through the decisions of the Cabinet, which will have a positive impact on the sector."

  "Iraq will return to the production of fertilizers, petrochemicals and many products that have been absent from the market over the past years," he said.