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The Iraqi Private Sector Development Council: A new step towards development
December 26, 2023Last updated: December 26, 2023
Independent/- The Iraqi government has reactivated the Private Sector Development Council, as part of its efforts to revitalize this vital sector and make it one of the pillars of economic development.
Specialists believe that reactivating the council is a positive step that will restore some of its effectiveness to the private sector and enhance its role in developing the Iraqi economy.
In this context, Alaa Sukkar, a member of the Parliamentary Services Committee, said,
“Reactivating the Council is one of the promising steps to revitalize the private sector and restore life to it.” Sukkar added,
“The Prime Minister’s interest in this council and monitoring its development is evidence of its importance in revitalizing the private sector, and thus the results will reflect positively on the country, including employing the workforce, reducing unemployment, and reviving investment.”
In turn, economic expert Mustafa Hantoush said,
“The council has been in place since 2018, but it has been ineffective and unable to manage the private sector and is managed with a bureaucratic mentality.” Hantoush added,
“The Prime Minister restored the spirit of the Council by assuming its presidency personally to ensure the presence of personalities with capital, as they can convey the image and reality of investment.”
Economic expert Osama Al-Tamimi pointed out that
“the issue of developing the private sector is important, and the state’s intervention in developing it is a must. This is done through visits and accompanying delegations to developed countries and participating in exhibitions and development courses to pave the way for the private sector to carry out new activities that the state does not interfere in establishing.”
According to specialists, the Iraqi Private Sector Development Council has broad powers that include supervising the implementation of government policies related to the private sector, coordination between relevant government agencies, and providing technical and financial support to private companies.
Specialists expect that reactivating the council will contribute to improving the investment climate in Iraq and attracting more foreign and local investments, which will contribute to achieving economic development and creating job opportunities.
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December 26, 2023Last updated: December 26, 2023
Independent/- The Iraqi government has reactivated the Private Sector Development Council, as part of its efforts to revitalize this vital sector and make it one of the pillars of economic development.
Specialists believe that reactivating the council is a positive step that will restore some of its effectiveness to the private sector and enhance its role in developing the Iraqi economy.
In this context, Alaa Sukkar, a member of the Parliamentary Services Committee, said,
“Reactivating the Council is one of the promising steps to revitalize the private sector and restore life to it.” Sukkar added,
“The Prime Minister’s interest in this council and monitoring its development is evidence of its importance in revitalizing the private sector, and thus the results will reflect positively on the country, including employing the workforce, reducing unemployment, and reviving investment.”
In turn, economic expert Mustafa Hantoush said,
“The council has been in place since 2018, but it has been ineffective and unable to manage the private sector and is managed with a bureaucratic mentality.” Hantoush added,
“The Prime Minister restored the spirit of the Council by assuming its presidency personally to ensure the presence of personalities with capital, as they can convey the image and reality of investment.”
Economic expert Osama Al-Tamimi pointed out that
“the issue of developing the private sector is important, and the state’s intervention in developing it is a must. This is done through visits and accompanying delegations to developed countries and participating in exhibitions and development courses to pave the way for the private sector to carry out new activities that the state does not interfere in establishing.”
According to specialists, the Iraqi Private Sector Development Council has broad powers that include supervising the implementation of government policies related to the private sector, coordination between relevant government agencies, and providing technical and financial support to private companies.
Specialists expect that reactivating the council will contribute to improving the investment climate in Iraq and attracting more foreign and local investments, which will contribute to achieving economic development and creating job opportunities.
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