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The five-year plan has doubled the demand for investment in Iraq

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The five-year plan has doubled the demand for investment in Iraq

23/5/2018 12:00 am

Their implementation by the private sector is dependent on the availability of capital Baghdad

The recently announced five-year plan focused on partnership with the private sector by 40 percent of the volume of investments, which is worth 88 trillion dinars compared to 60 percent for the public sector and worth 132 trillion dinars.

The plan also confirmed that if the private sector can achieve this percentage, investments will increase with It is known that the government has already announced two years ago the development of the private sector until 2023 in order to enable the development leadership of the private sector.

Private sector frequency

"The five-year plan may have indicated that the private sector is afraid or reluctant to work within the plan due to the failure to pay all of its financial dues for periods Former".

"The other reason is the administrative and financial corruption in some state departments. The contractor when he comes to work collides with this reality, in addition to interventions that hinder work, which causes delays in the completion and payment of fines for this delay," he said.

Rahim added: "There are other reasons, such as routine, in order for the investor to carry out the transactions and proceed with the work a long way of reviews so that the prices of raw materials in production or wages during the period of review may change, which may cause loss to the investor.

Liquidity of banks and investors

And the reasons for the hesitation of the private sector between the "liquidity of the banking sector or the investor if it is large and deposited in one of the government banks will suffer from the problem of determining the amounts of withdrawals and there is no open draw,"

stressing the need to provide facilities for overdraft, as the current banking system is not in line with the stage Developed in comparison with international banks, learned that private banks have more flexibility in dealing with their counterparts Governmental organizations.

He added that "the five-year plan, which is supposed to start in early 2018, if started at the end of this year will be partial work, but if it began with the implementation of the decree from 2019 to 2022, the private sector will play a large role in the proportion of 40% For the private sector and 60 percent for the government Mutual".

The success of the five-year linear

Rahim said that "the success of the plan depends on the possibilities available for implementation at the present time, in addition to the financial resources available, which will in turn determine dependence on loans and grants from other countries or not,

Pointing out that the amounts allocated from the Kuwait Reconstruction Conference did not receive the private sector any amount of them even right Now".

Rahim explained that "the private sector is ready to work on construction projects and reconstruction of destroyed cities and even in Baghdad, because they need many housing units to get rid of Slums".

"We have companies ready to build vertical housing units marketed by granting loans to citizens to benefit from these units because the activity of construction movement means reducing the proportion of The unemployment".

"The private sector had a distinct role before the year 2003, until the 1970s to support the economy

There were factories and laboratories produced as the 1970s flourished in the electronics and electrical industries and covered the needs of the Iraqi market,

And in the 1980s began factories and factories stop, causing a deterioration in the industry and government sector The private.

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