90 Investment Opportunities At Basra Industrial Partnerships Forum

(MENAFN- Iraq Business News) By John Lee.

Prime Minister Mohammed Shiaa Al-Sudani inaugurated the Basra Industrial Partnerships Forum, a two-day event organized by the Ministry of Industry and Minerals in collaboration with the private sector.

According to a statement from the PM's office, the forum showcased successful industrial projects in mineral investment, fertilizers, agricultural sprayers, iron, steel, and chlorine production. With 90 investment opportunities presented, the Prime Minister emphasized the government's commitment to fostering collaboration between the public and private sectors in various industrial fields across Iraq.

In his address, Al-Sudani praised the Ministry of Industry's efforts in organizing the forum, following the Petrochemical and Mining Industries Conference.

He announced his permanent chairmanship of the Private Sector Development Council, an outcome of the National Strategy for Private Sector Development 2014-2030. Al-Sudani highlighted key points during the forum, emphasizing the need for economic diversification, sustainable industry development, and the importance of private sector involvement in industrial production.

Key Points from the Prime Minister's Dialogue Session:

  • Economic transformation through support for agricultural, industrial, commercial, and tourism sectors.
  • Utilization of natural resources for establishing advanced and sustainable industries catering to both domestic and international markets.
  • Shift from a consumer-driven market to a more export-oriented economic model.
  • Direct and indirect job creation in the industrial sector.
  • Investment in human capital, skill development, and training as government priorities.
  • Integration of the Iraqi economy with the global economic cycle for stability.
  • Support for private industrial entrepreneurship, regional integration, and international collaboration.
  • Statistics indicating private sector dominance in industrial units.
  • Emphasis on private sector contribution to food, pharmaceutical, construction, and mining industries.
  • Addressing challenges in government-business partnerships and highlighting successful collaborations.
  • Empowerment of the private industrial sector through ownership and production contribution.
  • Establishment of the Iraq Development Fund and increased capital for the Industrial Bank.
  • Government support for export capabilities through the Export Support Fund.
  • Structural reforms in the banking and financial sectors for development.
  • Successful initiatives leading to increased pharmaceutical production and contract percentages.
  • Opportunities for private sector partnerships and investments in government-led industrial areas.
  • Assurance of direct government follow-up on investments from inception to production.

The Prime Minister also mentioned the Development Road Project, aiming to connect industrial cities from the starting point in Iraq to the endpoint in Turkey, providing further opportunities for economic growth.

(Source: Media Office of the Prime Minister)

The post 90 Investment Opportunities at Basra Industrial Partnerships Forum first appeared on Iraq Business News .


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