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One billion dollars to support the private industrial sector in Iraq
Baghdad
July 9, 2005
The minister's council has designated one billion dollars to support the private industrial sector in Iraq, within the tendency of the government, which aims at the revival of the Iraqi economy, after the negligence that it suffered from, for two decades.
This was confirmed by a knowledgeable source. He pointed out that the designated sum is from the sums of the donor countries, which reached Iraq; 6 billion dollars out of a total of 35 billion dollars, which are hoped to arrive in the coming two years.
On the other hand, Osama Abdul Aziz Al Najafy, the industry minister, has called Iraqi investors and the representatives of the Iraqi private sector to make use of the current available opportunities to participate in executing the investment of major projects in Iraq, for the chances that they provide with, in using the Iraqi technical specialties and cadres, working in industry, which are known for their broad experience. During his meeting with Hassan Benaia, president of the association of Iraqi businessmen, Al Najafy said that the doors of the ministry are open for any Iraqi investor who has any project ready for investment. He pointed out the readiness of the ministry to supply with the necessary facilities before Iraqi capitals and dealing with them in accordance with the principle of the one authority or window, so as to save time and effort.
He clarified that the tendency of the state and the ministry is towards supporting the Iraqi private sector through the new Iraqi investment law, which is hoped to be issued in the coming few days, after submitting to the minister's council and the national assembly, and through sums that the state promised to offer industry personnel as easy debts and grants, so that the private sector plays its leading role in Iraqi economy.
Source: Al-Sabah
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