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Experts: Implementation challenges hinder private sector development strategies

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Experts: Implementation challenges hinder private sector development strategies

Economical 04/01/2023
Baghdad: Nafeh Al-Naji

Experts said that implementation challenges stand in the way of completing the strategies launched by the Ministry of Planning for the development of the private sector.

The Cabinet recently approved the recommendations of the Ministerial Council of Economy regarding

supporting the private sector,
providing the necessary facilities, and
addressing the obstacles facing it, in
implementation of the requirements of the government program, which included
reducing wages, fees, taxes, and some dues related to commercial companies and the industrial sector. and agricultural.

The process of developing and supporting the private sector is an indispensable solution to addressing one of Iraq's economic problems, represented in absorbing the scourge of unemployment that affects many young people looking for job opportunities.

The economist, Dr. Safwan Qusay, told Al-Sabah that

the issue of the role of the private sector in development was the focus of attention of all the strategies launched by the Ministry of Planning during the previous years,

but the process of converting these strategies into implementation faces a set of challenges.  He added that

there are deep problems in these strategies,

for example the process of guaranteeing workers in the private sector and enacting a law to protect them is one of the most important challenges that the government and parliament must contribute to the process of creating a kind of reassurance for workers in this sector.  He pointed out that

one of the most important problems that impedes the growth of the private sector is the existence of an informal labor market and illegal outlets for import operations, with the presence of large scale tax evaders and fraud in manufacturing, especially in informal private markets,

all of which in general impede the growth of the formal private sector.

Qusai stressed the importance of organizing the private sector in order to have an effective and organized economic force,

calling for taking care of shareholders and fixed costs such as fuel, transportation and energy costs, which led to the high cost of the local product.

He pointed out the importance of having a clear strategy for the growth of the private and public sectors, so that they are not in conflict,

in the sense that the economic map is divided into areas of growth, the public sector withdraws from some investments and the private sector gradually turns to lead the development process, and this means diversification.

The economist.

For his part, a spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said:

The contribution of the private sector to the gross domestic product, which is currently estimated at approximately 37 percent, is small compared to the role and size of the private sector in the country.

He continued that the decisions and incentive measures by the government contribute to raising this percentage by increasing the pace of economic activities practiced by the private sector, in general, whether in industry, agriculture or other productive sectors.

In turn, the official spokesman for the General Secretariat of the Council of Ministers, Haider Majeed, told Al-Sabah that

Prime Minister Muhammad Shia'a al-Sudani gave great attention to the file of supporting the private sector, and confirmed more than once his interest in government partnership with this sector.  And he indicated that

government decisions came to enable this sector to participate and contribute effectively to development and enhance the gross product,

which is reflected in the success of the national strategy to support the private sector to take its pivotal role in the process of construction, reconstruction and partnership.

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