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Industry: Changing the price of the dollar provides an opportunity for the Iraqi producer to compete with the importer

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01/2021/17 19:57     The number of readings is 62     Section: Iraq


Industry: Changing the price of the dollar provides an opportunity for the Iraqi producer to compete with the importer

Baghdad / Al-Masala: The Minister of Industry and Minerals, Manhal Aziz, announced, on Sunday, January 17, 2021, that 5 new factories will open during the coming period, while he indicated that changing the exchange rate will allow competition to the local product.

Manhal Aziz said in a statement followed by the obelisk, "The ministry started with a real plan to revive 17 factories that were previously idle, and succeeded in opening 12 of them, while 5 others will be opened and restored to work during the next six months."

He added, "After 2003, the ministry was marginalized, in addition to the great destruction of the infrastructure and many production lines," noting that it "owns 225 factories today, out of which around 83 are completely idle."

And that "the ministry's plan is to revive these factories, employ manpower and increase national production."

And Aziz continued, "The change of the dollar exchange rate provided the opportunity for the Iraqi producer to be a real competitor, pointing out that the ministry with its new plan greatly supports the private sector for its role in reviving the national industry."

And, and that "there are foreign and regional companies express their desire to enter and cooperate in the Iraqi market because of this increase in market prices, which leads to a kind of economic feasibility in establishing these factories inside Iraq."

He pointed out that "the government is seeking to put in place a real law for border crossings and set fees and taxes on products to find real ways to market inside Iraq within the controls and laws supporting the protection of the national product."

He explained, "There is an agreement and cooperation with the Ministry of Planning and the Center for Privatization and Quality Control to develop a directory of Iraqi products and protect them and put large fees on them.

These materials must cover the market need and be of a high level of efficiency and quality and have a competitive price in the market."

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