Tuesday, October 19, 2010
Baghdad: a senior official said the Ministry of Industry and Minerals in Iraq, said Monday that Iraq plans to spend about $ 680 million in 2011 to renew his factories, devastated by war and to start construction of new plants.
Said Haifa Abdul-Hamid, director general of the ministry's investment plan of economic reform mainly focused on the renewal of existing plants or construction of new plants under a partnership between the public and private sectors.
She told Reuters in an interview, "in 2011 we will have 800 billion Iraqi dinars (684.2 million dollars). Six hundred billion Iraqi dinars for the rehabilitation and the rest .. about 200 billion Iraqi dinars .. to set up new projects."
And continued to "think in cooperation with the private sector. Must be a public sector contribution is limited .. but in the later will reduce the proportion of this contribution will be transferred gradually to the private sector."
Iraq is trying to get rid of the legacy of years of violence, sanctions and economic decline to open its economy and attract investment and foreign expertise to help in reconstruction.
The exposure of many of Iraq's factories were looted after the US-led invasion in 2003 and some of the factories became obsolete or located in areas still controlled by the Islamist rebels.
Include the sectors open for investment, construction and engineering, petrochemicals, fertilizers, food, medicine and textiles.
Said Haifa Abdul Hamid said eight foreign companies, including French and Japanese companies has so far invested in various sectors through agreements with the Ministry of Industry and Minerals.
Earlier this year, Ministry awarded a contract worth $ 200 million to French company Lafarge to rehabilitate the cement factory of Karbala when it acquired two companies Marubeni Corp. and Kawasaki Heavy Industries Aliapanitan a contract in December, in December 2009 to cement factory Alaqbisp in Anbar province.
Haifa said "Iraq is a country Bakr for investment. We have natural resources in addition to oil." "I come now to win Security .. .. This is the main risk ... but he will improve."
She says that investors also complained of some regulations in the country, especially the investment law, which it said was being reviewed to encourage investors.
Baghdad: a senior official said the Ministry of Industry and Minerals in Iraq, said Monday that Iraq plans to spend about $ 680 million in 2011 to renew his factories, devastated by war and to start construction of new plants.
Said Haifa Abdul-Hamid, director general of the ministry's investment plan of economic reform mainly focused on the renewal of existing plants or construction of new plants under a partnership between the public and private sectors.
She told Reuters in an interview, "in 2011 we will have 800 billion Iraqi dinars (684.2 million dollars). Six hundred billion Iraqi dinars for the rehabilitation and the rest .. about 200 billion Iraqi dinars .. to set up new projects."
And continued to "think in cooperation with the private sector. Must be a public sector contribution is limited .. but in the later will reduce the proportion of this contribution will be transferred gradually to the private sector."
Iraq is trying to get rid of the legacy of years of violence, sanctions and economic decline to open its economy and attract investment and foreign expertise to help in reconstruction.
The exposure of many of Iraq's factories were looted after the US-led invasion in 2003 and some of the factories became obsolete or located in areas still controlled by the Islamist rebels.
Include the sectors open for investment, construction and engineering, petrochemicals, fertilizers, food, medicine and textiles.
Said Haifa Abdul Hamid said eight foreign companies, including French and Japanese companies has so far invested in various sectors through agreements with the Ministry of Industry and Minerals.
Earlier this year, Ministry awarded a contract worth $ 200 million to French company Lafarge to rehabilitate the cement factory of Karbala when it acquired two companies Marubeni Corp. and Kawasaki Heavy Industries Aliapanitan a contract in December, in December 2009 to cement factory Alaqbisp in Anbar province.
Haifa said "Iraq is a country Bakr for investment. We have natural resources in addition to oil." "I come now to win Security .. .. This is the main risk ... but he will improve."
She says that investors also complained of some regulations in the country, especially the investment law, which it said was being reviewed to encourage investors.
