EmploymentIndustrials

Major Boost for Iraqi Industry: Minister Announces Exemption from Rental Fees for Industrialists

Minister of Industry and Minerals Announces Exemption from Rental Oils

On January 28, 2025, the Minister of Industry and Minerals declared an important policy change that exempts industrialists from rental oils.

According to a ministry statement, this exemption was approved by the Ministerial Council for Economic Affairs, specifically addressing the establishment phase of the divided divisions within the industrial city.

The ministry elaborated that this decision serves as a vital support mechanism for the industrial sector. The Minister of Industry and Minerals has made concerted efforts to bolster industrialists, aiming to stimulate the initiation of new projects and factories. This initiative is part of a broader strategy to enhance national production and create job opportunities, aligning with the ministry’s agenda to promote the private sector in accordance with governmental priorities.

Furthermore, the Ministry specified the lease terms: the rental amount will be set at 250,000 dinars per month for each industrial division covering an area of half an acre, starting from the third year and continuing until the end of the fifth year. After this period, the ministry will reassess rental allowances, ensuring that increases do not exceed 5%.

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