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Parliamentary Economy, links local product development with the investment of the industrial sector

Shafaq News/ The parliamentary  Commission on economy and investment demanded on, Sunday, the revitalization of the industrial sectors and develop them , counting the measures taken by the Ministry of Industry to re-run idle factories as a step in the right direction to support the national economy.The member of the parliamentary Committee of Economy and Investment A’ Amir  Alfayiz  said to "Shafaq  News" that "the government should open its arms to foreign and domestic investors who wish to invest in industrial sectors, because it will lead to the development of local production and to filling Iraq's need for many of the goods."

The Ministry of Industry and Minerals in Iraq returned, earlier, for the second time raised 18 factories almost stalled for investment after they had raised them in earlier times  but they did not succeed in attracting investors.

"The Ministry of Industry divided the factories owned by the State into three categories, including stationary and has no economic feasibility and presented to the ministry of the sale, and other sorts is working with economic feasibility offered to share with foreign and local investors to increase production and efficiency." He said.

"There is  the category III  which is off work and has offered economic feasibility of the Ministry of Industry for domestic and global investment." He continued .

Many Iraqi factories are facing challenges such as "aging production lines or those lines have been subjected to looting and vandalism during the events of April 2003 along with the problem of glut in the labor force" as the factories are still "running three times more than what they need for actual labor forces "  according to government advisers.