Iraq helps build 925 projects for private industrial sector

2021-01-20 14:35:21 GMT2021-01-20 22:35:21(Beijing Time) Xinhua English

BAGHDAD, Jan. 20 (Xinhua) -- The Iraqi Ministry of Industry and Minerals said on Wednesday that it has a plan to help build 925 projects for the private industrial sector, an official news agency said.

Director-General of the ministry's State Directorate for Industrial Development, Aziz Nadhum Abed, told the Iraqi News Agency (INA) that the directorate receives industrialists from the private sector and helps them build projects under its supervision.

"The directorate has a plan launched in June 2020 that includes assistance in establishing 925 projects for the private sector, of which 120 factories have been completed," INA quoted Abed as saying.

Establishing the projects was based on meeting the Iraqi market's need for local products, Abed said, adding that the initiative of assistance to help establish projects came according to the government program that aimed to support Iraq's economy.

"There are facilities offered (by the ministry) for the industrialists to create an investing atmosphere and (the ministry) launched initiatives to protect the money of investors as well as, bringing experts, and providing all requirements for the production," he said.

On Tuesday, Abed told Xinhua during the "Made in Iraq" exhibition at Baghdad International Fair, that the ministry is also supporting youth projects to help solve the unemployment crisis in the country.

"This initiative includes providing full support and loans for the newly graduated and other young people to establish their own small projects to eliminate unemployment by a certain percentage," Abed added. Enditem

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