Baghdad: Prime Minister Mohammed Shia al-Sudani chaired a meeting of the Industrial Coordination Council today, attended by the Ministers of Oil and Trade, several advisors, relevant officials, and the head of the Iraqi Federation of Industries. The meeting focused on discussing the current state of industrial projects across both the public and private sectors, as well as exploring the necessary measures to sustain development and attract investment in the industrial sector.

According to National Iraqi News Agency, the meeting resulted in several important decisions, including a recommendation to the Council of Ministers to increase the capital of the Industrial Bank, recognizing it as a public shareholding company. This move aims to enhance the financing of medium and large industrial projects. Moreover, the meeting approved amendments to Resolution No. 15 of 2025, incorporating inspection procedures for exported goods to streamline processes for industrial entities importing goods.

The meeting also addressed the pricing of liquefied petroleum gas (LPG) for industrial projects, excluding brick factories, setting it at 300,000 dinars per ton, as per observations from the Ministry of Oil. Additionally, discussions were held on the Najaf Mills Company Limited bylaws and the outstanding debts of companies linked to the Ministry of Industry and Minerals, as well as the private sector, with plans to settle these debts in the 2026 federal budget. A committee was formed to study this issue and report within a month.

In terms of legislative procedures, a specialized committee was established to examine the enactment of a law to collect production fees, with recommendations to be submitted in two weeks. The meeting also emphasized the establishment of a private sector vehicle armoring and plating plant, instructing relevant authorities to complete the necessary legal procedures.

Furthermore, the meeting directed all border crossings, including those in the Kurdistan Region of Iraq, to comply with Cabinet Resolution No. 24614 of 2024 concerning customs duties on specific imported food products and to enforce the amended Iraqi Products Protection Law No. 11 of 2010.