mixed sector

Mixed Sector CompaniesIntroduction :What’s Mixed Sector?A group of company created by Industrial Bank were theircapital shared between government establishment , privateestablishment and persons.Historical back ground :During the 30’s of last century. The government of Iraqat that time established the Agriculture Bank to encourageinvestment in agriculture project as well as other projectto develop Iraq. In the years of 40’s of last centuryIraqi government established the Industrial Bank of Iraqto encourage investment in the industries were most ofexisting Co.’s. Established by this bank were the policy tocreate industrial co. the government shares only withcapital and the management by the private sector.In the early sixties nationalization of these Co. Takeplace and most of these Co.’s became state owned.During the early years of 70’s a new policy adopted byIndustrial Bank to create a mixed sector industrial Co.’s ,were the capital shared between private investors andgovernment establishment. The management of these Co.’sshared by both parties.The existing Co.’s of mixed sector are belonging tothis strategy , all these Co.’s under super vision of ministry looking after industry helping , advising andencouraging investment in this field.Table (1) shows these Co.’s and their main activity andcapital.Capital Products(Million ID)Ref Company Name.1 Electronic Industries Co. 12 000 TV, Radio, Computers ( PC),Industrial Mixed Sector Co.s, , p ),Telephone , PABX, CommunicationSystems, Power Equipments.(EIC)Heaters, Cookers, Refrigerators,Deep Freezers,.2 Light Industries Co. (LIC) 16 800air conditioning, air cooler, weldingelectrode.3 Hillal Industries Co. 12 375Plastic sheets, industrial leather,sponge plastic bags.National Chemical & 7593Plastic Co. (NCPI)4National Bicycle and 5 000 Metal tubes, bicycles, metal furnituremetal Tube Co.56 Modern Paint Co. (MPC) 9213 Deferent Paints and Risen.7 Iraqi Carton Co. 7590 Carton boxes for packingKende For medicine and 1 000 Deferent type of vixenvaccine89 Ready Made Wear Co. 360 Suites, shirts…..10 Faluga for constriction 270 Mesick, concrete blockmaterialModern construction 1458 Construction materialsmaterial Co.11National food industries 3300 Soft Drink and JuiceCo.1213Baghdad Salam Food 500 Soft Drink and Medical Sprit.Industries Co.Khazer Construction 1000 Tails concrete BlocksMaterial Co.14Karkuk Construction 124 Tails concrete BlocksMaterial Co.1516 National Furniture Co. 900 Office and Home furnitureFriction Material, Break shoe, clutchshoe17 Iraqi Engineering Co. 500These Co.s they have land and properties estimated at least ten times their capital as a present value.The Goals In Creation Mixed Sectors Co.’s1- To encourage investment and give opportunity to greatnumbers of people (from them a fixed income people) toinvest in the development of economy which havebenefit to society, state and people.2- To insure investment and work of industrial projects awayfrom personal benefit.3- To insure just completion with other sector projects and tosave consumer from difficulties of cartels and badquality.4- To insure better quality of goods in the sheared mixedcompanies as there is common interest for all shearsholder to observe and fallow up the activity of thesecompanies through board of directors, general assemblyand all leads to transparency.5- To insure continuation of workforce (especially Institute anduniversity graduate) in these projects that means experienceswhich will effect production quantity and quality.6- To activate production cycle through mass productiontechnical and employing large number possible frompeople and that results in improving their living and risetheir purchasing power.Legal Frame Work :- All mixed sector Co.s are listed in the Iraqi stockexchange market and any body can buy their shares fromthat market (Iraqi stock exchange). [ There are 82 Co.sregisted in Iraqi stoke exchange, 35 Co.s of them are mixedsector Co.s.]- Low No.21 from year 1977, for the mixed sector andprivate Co.s govern these Co. [ From one person Co. topublic shares Co.- Non Iraqi can have shares same as Iraqi.- Low No. 13 for the year 2006 control the investment andsafeguard investors privileges.Advantages of investor in Mixed Sector Co. :- Companies will assist to implement rehab elation andmodification.- Freedom of marketing the products.- Buying shares of the company as investor wish.- Investors when they buy shares will have all the right asIraqi shares holder even election to board of director.- Most mixed sector Co.s have land for futureexpansion. ( The land and properties each Co. have canbe estimated at least ten times its paid capital)Future View :After all incident in Iraq Mixed Sector Companieslook to open to the world and wish to modernizationand developing throw :-- Finding strategic partner to cooperate in investmentand technology by means of :- Production shearing- Joint Venture- Technical Cooperation- Execution of joint projects- Any form of cooperation agreed upon.2011
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