Iraq Economic News and Points to Ponder Thursday AM 2-13-25

Prime Minister Adviser: The Government Has Taken Steps To Re-Promote The Manufacturing Industry
 
Economics |  09/02/2025  Mawazine News – Economy  The Financial Adviser to the Prime Minister, Mazhar Mohamed Saleh, confirmed that the  government has taken steps to re-promote the manufacturing. Saleh told the official agency:
 
"The advancement of the manufacturing industry of Iraq is a strategic issue of multiple dimensions, the  
first of which is: the industrial operator, whether small, medium or large, is one of the most important activities responsible for using 60% of the workforce." 

He pointed out that
 
     "eliminating sustainable unemployment requires economic diversification and the
     basics of diversification begins from the manufacturer construction of Iraq, and the
 
second: the partnership with the private sector comes to be an ideal solution to advance the industrial sector itself, whether this partnership is to provide financing and government support, partnership in ownership or capital And
 
this requires a balance between the public interest and the private interests, while ensuring the existence of a highly -governing transparent organizational environment that encourages effective cooperation in an integrated social market between the two parties, "noting that
 
"the partnership in management and ownership between the government and private sectors leads to
 
     stimulating innovation,
     technological development and
     encouraging research And development, as well as
     investment in advanced manufacturing technology such as
     automation,
     artificial intelligence and
     3D printing.  He stressed that
 
"the financing partnership represents the provision of financial support for small and medium enterprises that work in the field of manufacturing to find an optimal operating lever," explaining that
 
"the national development plan indicates efforts to rebuild the conversion industry pillars through real partnerships with the private sector, as
 
the state contributes to ensuring sovereign financing Manufacturing industries by 85%, while the
 
private industrial project bears 15% of the financing. 

 He continued that  "this financing strategy is devoted to financing industrial projects at five levels, foremost of which is the projects whose products are related to
 
     reconstruction and housing or pouring into the work of the path of development, then the
     pharmaceutical industries and the
     petrochemical industry and
     others," noting that
 
"the government's economic philosophy and according to the government curriculum is carried out On the partnership between the state and the market with the wide social security, and this is what makes it work according to the social market theory, which is a separation from economic liberalism and its risks.

And that
 
"a leadership bank has been established with the support of the state to provide small and medium loans to young people, and
 
this was preceded by a leadership initiative for the prime minister, which paved the way for this by providing thousands of loans to the youth sectors and moving their innovations," explaining that
 
"this will lead to encouraging the regulatory and investment environment of the country and adopting policies that encourage encouragement On competition, improve the business environment and reduce bureaucratic regulations that may hinder the process of manufacturing and accelerate it.     https://www.mawazin.net/Details.aspx?jimare=259469  

Minister Of Transport: Iraq Is A Distinguished International Corridor For The Countries Of The Region
 
Local     Yesterday, 17:40  Baghdad – WAA  Minister of Transport Razzaq Muhaibis Al-Saadawi confirmed, today, Wednesday, that Iraq is a distinguished international corridor for the countries of the region.
 
A statement by the ministry received by the Iraqi News Agency (INA) stated:
 
"Minister of Transport Razzaq Muhaibis Al-Saadawi met with the Secretary-General of the International Road Transport Union, Umberto de Pretto, to discuss the TIR project, and ways to facilitate the inter-trade process, which is one of the most important drivers of the global economy."
The statement added,
 
"At the beginning of the meeting, which was attended by the head of the Parliamentary Transport and Communications Committee, Zahra Al-Bajari, and the Director General of Passengers and Delegations, Karim Kazem Hussein, the Minister expressed his thanks to the delegation of the International Road Transport Union, which included the Secretary-General of the Union, Umberto de Brito, the Director of Strategic Development, Vincent Erard, the Director of International Road Transport Services (TIR), Tatiana Re-Bellet, and the Union's Middle East Affairs Advisor, Rami Qarout, for their support for Iraq's accession procedures to the TIR Convention, while he extended an invitation to the delegation to visit Baghdad and discuss joint cooperation."

Al-Saadawi stressed - according to the statement – that   "the Iraqi government, specifically the Ministry of Transport, is keen on the TIR project, as
 
it is an important project at the level of international trade movement, and
 
it is also reflected in the economies of the member states," noting that
 
"Iraq enjoys a strategic location linking the East and the West, and
 
therefore it is a distinctive international corridor for the countries of the region." He stressed
 
Iraq's keenness to "implement the requirements of the agreement, in conjunction with the ongoing work on the development road project, which
 
we seek to be one of the best global corridors for transporting goods, as
 
it will be the least expensive and safest."
 
In turn, Secretary-General Umberto de Pretto expressed his "thanks for the efforts of the Iraqi government to complete Iraq's accession to the International Land Union," considering that
 
"approval for the passage of vehicles through Iraq is very important." He stressed that
 
"expediting this process makes things better, adding that this project opens up broad horizons for Iraq," noting that
 
"TIR facilitates the trade process by 50%, and ensures the passage of vehicles with ease, and
 
the benefits resulting from it are greater, in light of the existence of enormous capabilities that enhance this."
 
At the end of the meeting, the President of the International Union expressed his "admiration for the topics raised on the discussion table, especially the issue of the international visa, and the possibility of benefiting from Iraqi expertise in the success and organization of the TIR work system."
 
It is noteworthy that the Minister of Transport, Razzaq Muhaibis Al-Saadawi, participated yesterday, Tuesday, in the work of the 87th session of the Inland Transport Committee (ITC) held in Geneva; where he delivered Iraq’s speech, in which
 
he reviewed the government’s projects regarding ways to enhance sustainable connectivity for regional inland transport, and enhance climate action for inland transport, which includes establishing concepts of climate justice, to reduce carbon emissions.   https://www.ina.iq/227874--.html  

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