Baghdad: Prime Minister Mohammed Shia al-Sudani has issued directives to all ministries and relevant authorities to dismantle obstacles hindering the private sector, urging an adaptation of laws to bolster industrial development plans and projects across Iraq.

According to National Iraqi News Agency, the Prime Minister presided over a regular meeting of the Industrial Coordination Council, accompanied by key figures including the Minister of Finance, Ministers of Oil, Trade, Industry and Minerals, the Chairman of the Advisory Board, the Chairman of the Iraqi Federation of Industries, and representatives from the industrial sector. During the meeting, al-Sudani emphasized the necessity of creating an enabling environment for the private sector by focusing on industrial, legal, and legislative frameworks that ensure investment momentum in the country.

Al-Sudani instructed the Industrial Coordination Council members to prioritize the private industrial sector, aiming to resolve existing challenges and barriers to enhance its contribution to the national economy. The meeting reviewed various agenda items, agreeing to incorporate partnership contracts within public companies tied to the Ministry of Industry and Minerals with the private sector. This move aligns with Cabinet Resolution No. 24413 of 2024, awaiting the new federal general budget law’s issuance.

The statement highlighted an approved reduction in the price of liquefied petroleum gas (LPG) to 300,000 dinars per ton for industrial projects, excluding brick factories with a valid certificate from recognized authorities. Furthermore, it was resolved that all ministries and governorates should source their liquid medical and industrial gases, liquid nitrogen, and argon from national factories.

The Ministry of Trade’s proposals received approval, including coordination with various ministries and the Iraqi Federation of Industries to prepare training programs aimed at developing small and medium-sized enterprises. Additionally, there was an emphasis on expanding contracts with local factories to market their products through hypermarkets.

As part of efforts to support national products and enhance the industrial sector, an update to the Ministry of Planning’s National Product Promotion Guide was approved. This guide will provide comprehensive information on industrial sectors, accessible via the ministry’s electronic platform.