| 2008: Iraq’s Ministry of Industry invites investors to spend on rehabilitation and modernization |
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May 4, 2008 The Ministry of Industry and Minerals called on investors, financiers and international companies specialized in various industries to finance the rehabilitation and modernization of its plants in return for a share in production. Undersecretary for Development and Investment, Adil Kareem, said that the contract is for a specific period of between ten and twenty-five years during which the investor will be in charge managing these plants administratively, technically and financially as well as marketing in return for his share of production. Kareem added during his speech at the conference of Investing in the Iraqi industry which is held in Dubai that the government seeks to establish the concept of leaving the industry to specialized industrialists and start thinking in a true unprecedented partnership between the public and private sectors on the basis of economic reform in state-owned companies and to support local and foreign investment to provide new investment opportunities. |