Economic Development Update – Baghdad
The Ministry of Industry has announced that the industrial sector is poised for significant growth in the coming years. This outlook comes alongside the confirmation of 196 partnership contracts formed with the private sector aimed at bolstering production capabilities.
According to ministry spokesperson Duha al-Jubouri, “The ministry has not pursued full privatization of its factories; instead, it has engaged in partnerships with the private sector as governed by the Ministry’s partnership law.” Al-Jubouri highlighted that of the 196 active partnership contracts, 50 were initiated between October 27, 2022, and the present. She elaborated that some contracts have been signed, while others are either under assessment or in the foundational stages.
The partnerships span a range of sectors, including communications and energy, specifically involving the manufacturing of electrical stations and transformers. Additionally, they encompass petrochemical industries and the automotive sector, focusing on the assembly and production of vehicles as well as projects related to the construction and conversion of various types of machinery.
Furthermore, al-Jubouri noted that the agreements also cover mining, electrical and construction industries, as well as maintenance and rehabilitation of gas turbine units. Plans are in place for the establishment of new factories for product lines that include phosphate, pharmaceuticals, insulin, and human vaccines.
Al-Jubouri asserted, “These contracts will significantly contribute to enhancing and increasing production.” She cautioned that these large-scale projects, which utilize modern technologies, will require several years to complete and become operational.
She concluded by stating, “The next few years will see a transformative upsurge in the industrial sector through the introduction of new projects and modern production lines.”
