The Collapse Of The Iraqi Textile Mill Aggravated The Economic Burden. The Government Ignored Local Enterprises.

According to the report in January 25th,

Rotary grinder has been in history for many years. With the decline of production enthusiasm in textile factories, a number of textile factories in Baghdad, Iraq, have been gradually closed down and become customs warehouses for storing imported goods.

One family

In an interview, the factory owner said that the industrial areas in Baghdad had large and small factories covering all fields, but after 2003, the Iraqi government temporarily exempted the import tax because of its blind pursuit of imported goods. These factories went bankrupt one after another, and the owners of these factories were unable to continue to compete in price.

He also said that at present there are many abandoned factories on the roof of the factory.

The total value is about 3 million dollars.

He said he was willing to sell these idle equipment at a price of $2000 each.

In addition, he also pointed out that in the past few years, the Iraqi authorities have been reluctant to support the industry, blindly pursued the imported goods, and paid too much attention to commercial cooperation with foreign enterprises, which greatly ignored the support for local enterprises.

Two hundred factories

Hossain Zac, a factory owner of an Iraqi textile factory, said in an interview that the government had built a large number of state-owned enterprises and factories before the US invasion of Iraq in 2003, but more than 200 factories have closed down.

The biggest problem facing the factory is the aging of factory equipment and the huge number of employees. These problems became more and more serious after 2003.

He also pointed out that in addition to the factors mentioned above, arrogant and corrupt corrupt forces have unlimited restrictions on investors in order to obtain profits from investment projects.

Iraqi industrial and mineral minister Nasir al SAR said at a news conference that the closure of many textile factories aggravated the economic burden of Iraq.

financial burden

Mohamed Saleh, the Iraqi Prime Minister's economic adviser, also said that the industrial development of the country has been stagnant since 2003, which aggravated the economic burden of the country.

In an interview, Saleh also said that the annual wages paid to workers by factories are as high as 15 trillion (12 billion 500 million US dollars).

He pointed out that the way to solve the current problem is to mold the enterprise into a private industrial enterprise, and protect the personal interests of the 250 thousand staff on this basis.

On the other hand, Masood Haider, member of the Iraqi Finance Committee, stressed that private enterprises accounted for 40% of the national revenue.

If the government is committed to portraying the enterprise as a private industrial enterprise, it will provide the country with financial support of 10 trillion per year (8 billion 300 million US dollars) a year, which will greatly promote the economic development of Iraq.

Transfer of ownership

Antwaan, an Iraqi economist, believes that privatization of enterprises does not mean blind pfer of ownership. Enterprises should pay more attention to their work performance, so that employees can truly feel that their enterprises value themselves and devote themselves to their work.

Of course, investors can also become an enterprise strategic partner to push enterprises to improve their productivity and performance at a specific time.

He also pointed out that the privatization process must not hurt the interests of employees, they should create more employment opportunities, pay attention to employee retirement, social insurance and other matters. These are urgent tasks for enterprises to promote their own development.