Iraq plans to sell factories to investors in Kuwait conf. – Min

Iraqi Minister of Industry Mohammad Sudani Sunday announced a plan to sell factories destroyed during the war against so-called Islamic State (IS) on investors, during an international conference to rebuild Iraq, due in Kuwait next month.

The Ministry of Industry prepared a file including all factories that were damaged or destroyed, and plans to distribute copies of this file to investors during the February 12-14 conference, Sudani told KUNA.

He said factories would be offered for all investors, but Kuwaiti investors would have a priority.

Iraq, added Sudani, was genuinely interested in facilitating business procedures for Kuwaiti investors.

Iraq’s industrial sector was severely damaged in IS-controlled areas in central and northern Iraq, including oil refineries and cement factories.

Iraq needs around USD 100 billion to rebuild infrastructure and housing sector.

Source: Kuwait News Agency