Launching Iraq’s National Industrial Initiative 2014

The Iraqi private industrial sector suffered for decades of governmental negligence which resulted in its deterioration, making the local product uncompetitive comparing to foreign goods.

 Economic Non-Governmental Organizations working in Iraq say that the Iraqi economy lost a great deal for neglecting the Iraqi private industrial sector, their reports estimated the loss with a total of 180 billion dollars because of its dependence on imported goods.

Beginning of 2014, the Prime Minister Nory Al-Maliki launched the National Industrial Initiative, similar to the Agricultural Initiative launched in 2011, aiming to provide support for the Iraqi private industrial sector through loans and speeding up granting licensing and permits, hoping to develop and revive the sector.

But In order to make the most of the industrial initiative, I have several recommendations to implement alongside with it:

01Providing enough funds for the industrial Initiative, industrial projects need more financial support which exceeds the funding allocated to the Agricultural Initiative.

02Speeding up the construction of the Industrial Cities, in most of the Iraqi provinces there is an Industrial City project, executed and funded by the Ministry of Industry, aiming to provide a place for small and medium size local manufacturers, most of these cities are stumbling in the planning or execution stages.

03Setting-up and passing new legislations to support and protect the Iraqi industry, specially the Iraqi Customs Law, Consumer Law and the Protection of the National Product law, in addition to modifying the existing supporting laws, like the Private Banks, Companies Registration and the National Investment Laws.

04Commit the Iraqi Public Sector and its contractors to make procurements with at least of 20% to 30% from local products and manufacturers for projects executed for the Iraqi government.

05Providing proper infrastructure and services for local industrial areas, like internet services, water and specially electricity for local industrial areas is suffering from sudden cuts and inconstancy in power grid supply.

Without providing other supporting factors for the Iraqi National Industrial Initiative 2014, the Initiative will have little noticeable effects in not fail.

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