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Babylon's trade reveals obstacles in the "wholesale" that face investors and provides advice to young people

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Babylon's trade reveals obstacles in the "wholesale" that face investors and provides advice to young people

economy    Babylon's trade    Investment Obstacles
2022-07-29 06:17
Shafaq News/
The Babylon Chamber of Commerce revealed the obstacles facing investors in the province, including factors "related to the formation of the government."

And while it referred to the government's "inaction" to support investment, it pointed out that there are many "successful" projects that are popular in the province.  The Chamber's head, Engineer Sadiq Faihan Al-Maamouri, told Shafaq News Agency,

"The Babylon Chamber of Commerce is a professional organization that represents the private commercial sector in the province, and the number of its affiliates exceeds 90,000 among a merchant, company and factory."  Al-Maamouri added,

"The Chamber of Commerce, in cooperation with the International Labor Organization and the Babel Labor Directorate, has attracted and hired many young people and supported their projects, and there were several training and rehabilitation programs, in addition to financing with the assistance of the International Labor Organization by opening new projects."  The head of the Babylon Chamber continued,

"Project owners have also been developed and their work expanded, through training and granting them loans to employ additional numbers of unemployed youth, and 1,800 projects have been opened in cooperation with the International Labor Organization, as well as training its youth workers, whose age does not exceed 30 years.".  Al-Maamouri pointed out that

"there are many obstacles facing investors in the province, including those related to laws, regulations, bureaucracy and government routine, the failure to activate the single window, the lack of funding and the lack of infrastructure such as roads, water, electricity and sewage."  The commercial official indicated that

"these obstacles stand in the way of the investor, and prevent them from attracting more investors, so that many owners of large projects and foreign investors are reluctant to come to the governorate, because of these obstacles."  Al-Maamouri stressed that

"finance is an essential element for any project, and the state is laggard and is not interested in the issue of project financing, especially small projects for young people, who have ambition and desire to open small projects."  Al-Maamouri, who holds the position of Vice President of the Federation of Iraqi Chambers of Commerce, explained that

"the economic situation in Babylon is not different from the rest of the Iraqi provinces, as it suffers from a great recession, depression and a rise in prices, due to global conditions and the current situation in the country.

Political stability is currently not available, This reflected negatively on the economic reality in Iraq and the province."  Al-Maamouri added,

"The officials of the Babylon Governorate lack the correct vision to support the private sector, as there is no support from the government side or from private sector organizations, as well as from those that represent the private sector."  The head of the Babylon Chamber of Commerce continued, saying,

"Despite all these suffering and obstacles, there are many successful projects in Babylon, such as the sugar factory project, the edible oil project, and there are food production projects, especially water and juices, and individual small projects for the production of household foodstuffs that The Iraqi table needs it."

Al-Maamouri advised young people to “pay attention to handcraft professions, which are currently popular, and which depend on individual personal skills, in addition to the fact that their financing is simple, so they do not need large financial capabilities and capabilities, for example, shaving, blacksmithing, carpentry, and other handicrafts related to With construction work, the governorate is currently witnessing a good construction movement.”

Al-Maamouri called on young people to “not think about government employment, because the government is unable to find job opportunities in the public sector, which has grown a lot,” noting that

“the real opportunity for young people is to make their way in the private sector, and there are many young people who were able to prove themselves.”

And they achieved their ambition, and they also helped others after the development and expansion of their work, as they employed other numbers of young people.”

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