The Organizational Structure
1. Foreign Investment.
2. Local Investment (Mixed & Private).
3. Industrial Properties.
4. Foreign Relations and Economic Agreement.
5. Arab Unions and Companies.
Summary of the Department Tasks
• Developing Policies and Plans, suggesting necessary programs for Developing and Promoting Investment in New Industrial Projects as well as in Existing Industries, whether the source of capital invested is local or foreign.
• Promoting the Industrial Investment in the field of New Projects and in Rehabilitation of the existing State Owned Plants through preparation of "Investment Files".
• Suggesting modernization and development of the prevailing investment legislations and laws, proposing new legislations relevant to local and foreign investment.
• Coordinating with other Ministries and the National Investment Commission on policies that have direct involvement with investments.
• Activating the role of the Private Industrial Sector aiming to develop, improve, and promote this sector to take a major role in the economic activity and investment.
• Proposing and planning investments for Strategic Projects in the Industrial sector.
• Following up Iraq's external investments (Arab Joint Companies)
• Cooperating with Arab and International Organizations and Civil Society Organizations.
• Promoting and developing economic relations with the international and regional countries, activating the role of the Arab and International Bilateral Agreements which are related to promoting industrial investment, flow of Foreign Investment and finance Loans, Donors and Grants.
Our Industrial Investment Vision
• Encourage the Private Sector to deepen its participation in the economic reform process through Public Private Partnership (PPP)
• Transform SOEs to economically viable companies in collaboration with investors
• Utilize regional and international best practices
• Work within existing Iraqi legislation and regulations to achieve transformation
• Propose new legislation to attract international investment in the industrial sector
Path Forward
• Segment SOEs based on economic viability
• Diversify investment models to include: production / profit sharing; corporatization and strategic partnership
• Consider alternative investment models proposed by investors
• Rehabilitate and Package State Owned Enterprises (SOEs) to attract investment
• Invest in new strategic projects with leading international companies, utilizing current SOE infrastructure
The Investment Environment
The Iraqi economy is undergoing t a rapid transformation from a Centrally Based Economy to a Free Market Economy in which the private sector has a leading role in the economic development of the country.
After 2003, Iraq took steps toward enhancing the private sector by adopting comprehensive economic reforms
Industrial Investment Advantage
• High local demand for industrial products to support the multibillion dollar infrastructure development and reconstruction effort
• Abundant natural resources including oil, gas and minerals
• International demand for industrial products
• Trained skilled and semi skilled labor force
• Lucrative domestic and regional market conducive to industrial growth
Ministry of Industry and Minerals Economic Reform
Ministry and Industry is taking the task of Development and Promotion of all sectors of Iraqi Industry by adopting a comprehensive economic reform on the following basis:
First: Rehabilitation and Upgrading some of the plants on Partnership basis by establishment of Joint Ventures and Production Sharing agreements between foreign companies, businessmen and Iraqi public sector to increasing the design production capacity to cover the huge demand for most of the Iraqi products. Investment Files are available with all technical, financial information and visibility study for each plant. More...
Second: Transforming some of the SOE's to share holding companies giving the big share of about 45% of the capital to a strategic partner through transparent evaluation process.
Third: Establishing new Private Companies.
Fourth: Direct Investment in New Green Field plants. More...
Fifth: Investing in new strategic large scale Industrial plants on Joint Venture basis (Petrochemicals, Fertilizer, Phosphate, Sulfur Plants) More...