Prime Minister Expresses Confidence in Developing a Competitive National Industry in Iraq

Shafaq News/ Prime Minister Mohammed Shia al-Sudani on Wednesday said that Iraq is capable of developing a competitive national industry to rival international industries.

Al-Sudani made these remarks during an exclusive interview on the sidelines of the first Metal, Petrochemical, Fertilizer, and Cement Investment Conference, organized by the Ministry of Industry and Minerals under the theme "Our Mineral Wealth - Sustainable Economy Toward a Green Transformational Industry."

The prime minister highlighted that Iraq is pursuing promising plans for development, economic growth, and reconstruction, urging investors to seize the investment opportunities presented at the conference.

Al-Sudani attached importance to exploring alternative sectors, beyond oil, that can contribute to Iraq's Gross Domestic Product (GDP), such as industry and agriculture.

He noted that Iraq ranks first globally in sulfur reserves and second in phosphate reserves, in addition to numerous untapped mineral resources.

The Prime Minister stressed the importance of utilizing Iraq's natural resources optimally, explaining that the state would bear the remaining cost of private sector partnership requirements for workforce numbers.

"Creating a supportive private sector to provide employment opportunities is a priority for the Iraqi government. We are ready to provide all the necessary support and facilities to both local and foreign investors," he continued.

Minister of Industry and Minerals Khaled Battal al-Najm inaugurated the conference, stating that it is the first of its kind held by the Ministry of Industry.

He expressed his hopes that "the event would establish a genuine partnership with private sector companies, both domestically and internationally."

The minister reiterated the ministry's commitment to increasing the industrial sector's contribution to GDP, creating job opportunities, and achieving national development goals through the optimal utilization of mineral wealth.

Al-Najm pointed out that the "government decided to hold the conference to encourage participation in exploiting Iraq's resources through the establishment of factories that keep pace with global industrial advancements."

The minister said his "vision focuses on strategic industries that create job opportunities for Iraqi youth and paves the way for the private sector through the establishment of its projects or through partnership contracts with government sector companies."