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Iraq to invite investors for building industrial zones - News network
17 May 2017
Iraq intends to invite local and foreign investors to build industrial zones as part of its strategy to expand its manufacturing sector and offset weak oil prices, a news network in the war-hit Arab country said on Tuesday.
The zones in various governorates will be constructed on an investment basis in view of the country's current cash problems, Al-Forat said, quoting Industry and Minerals Minister Mohammed Al-Sudani.
Sudani said Iraq's financial crisis, caused mainly by weak oil prices, has led to the shelving of many industrial projects, including a petrochemical complex in the Southern Basra governorate.
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