Al-Kaabi calls on the Ministry of Oil to reconsider its decisions related to the private sector and stresses the development of an effective strategy to protect investors

First Deputy Speaker Mr. Hassan Karim Al-Kaabi stressed the need to give the private sector utmost importance in terms of the necessary support and care, stressing that the council of Representatives has put in place many legislations that would make the investment process Easier, develop the private sector and advance the current economic reality. He called on the Ministry of Oil to wait and to reconsider its decisions related to strengthening the private sector, especially with regard to the high price of black oil, and to work according to the laws in force that make the process of industrial development Easier in the country.

This came during the council of Representatives’ hosting of the heads of the economic, technical, and distribution departments in the Ministry of Oil, the Director-General of the Department of Industrial Development at the Ministry of Industry and Minerals, and representatives of the owners of asphalt plants and the production of dyes. The meeting was attended by the Chairmen and members of the Economic and Investment Committees, and Oil and Energy Parliamentary natural wealth and a number of MPs.   they met to discuss the reasons for the high prices of black oil in the Iraqi factories, and to ways to develop the private and industrial sectors and to find solutions for all existing problems.

Al-Kaabi stressed the need for the government to put in place an effective strategy to encourage and protect investors, and to strengthen the role of the private sector as a fundamental and true partner in building the Iraqi state. He also emphasized the necessity of establishing government controls and procedures to follow up and monitor factories and limit the smuggling of products in cooperation with the security services.

First Deputy Speaker Media Office

12/1/2021