A proposal to create a ministry for the private sector and international support to diversify Iraq's resources
Sweetened Today, 18:16
Baghdad - conscious - Nassar al-Hajj
Today, Wednesday, the Iraqi Federation of Industries announced an international move to develop two main sectors and provide job opportunities in Iraq, and while
it identified three pillars to advance economic development,
it warned of a looming crisis.
The Vice-President of the Iraqi Federation of Industries, Adel Al-Dakhili, told the Iraqi News Agency (INA), that
"the seven major industrial countries had a meeting recently with the International Monetary Fund, the World Bank and the European Union, to support Iraq and diversify its rentier economy and not rely on oil," noting that
"the meeting included International blessing and support for the advancement of the Iraqi economic reality. He added,
"The government should take advantage of this support, which will lead to the transfer of expertise and technology to develop industry and agriculture and open new horizons that serve the youth," noting that
"European support comes annually to Iraq, but there is no real program or seriousness to invest that."
He added that
"Iraq is now suffering from a rentier economy that depends on oil,"
calling on the government to "establish petrochemical refineries with the involvement of the private sector." He stressed,
"the need for a ministry for the private sector, which needs a special pause in terms of creating job opportunities for the huge numbers of graduates," noting that
"this advancement of this sector will solve a large part of the unemployment problem according to an integrated program and continuous support." And he indicated that
"the private sector is without support, in addition to that bribery and corruption have become repelling investment," explaining that
"investment is a partner in building the state, but how can it work in the midst of these difficulties, as all raw materials are at very high prices and support does not exist, and all these things led to to create a crisis in the country. He added,
"Iraq contains 40 million consumers, and the Iraqi consumer is the best in the region," pointing out that
"with this population density, we can build a strong economy." He stated that
"economic development does not advance in Iraq except with three important pillars, which is the government through a program consisting of the Prime Ministry and the Ministry of Trade, Industry, Agriculture, Planning, Culture and Finance and setting an action plan," noting that
"one of the difficulties that stand in front of investment is the problem of land ownership, and it is not possible to That there will be industrial loans if the land file is not resolved,
in addition to the necessity of deducting the entry of raw materials and providing product protection, how to protect borders and protect the consumer.” He stressed the
need to "create a safe and investment environment," stressing
"the need to attract investors, who will not come if there is no law, safety and a real environment." He pointed to
"the importance of the government offering temptations to foreigners, because our situation is confusing, and other countries must be taken advantage of,"
warning of "a looming crisis because oil is a commodity that is likely to run out in the future and less demand for it."