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Investing in government directions supporting the private sector

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Investing in government directions supporting the private sector
Economical 05/14/2024
 Baghdad: Hussein Thaghab
Participants in the Iraqi-Tunisian Businessmen Forum unanimously agreed to invest in the government’s directions in support of the private sector in creating the ideal investment environment, containing all the challenges that confuse the reality of business, and working to localize industries in Iraq.
Foreign Minister Fouad Hussein said:
This forum comes to strengthen economic relations between the two brotherly countries in a way that supports the development of the two countries in various sectors that achieve a common benefit for the two brotherly countries. He added that
the government attached great importance to developing the economy and advancing the private sector, as
it adopted effective steps, including creating an attractive environment for investments, and went to adopt a series of measures, including financial and banking reform in accordance with the standards. International. He stressed that
the government, for the first time, provided guarantees to the private sector, and that
the role of the Iraq Fund for Development goes towards supporting the national economy, providing the appropriate environment, and supporting projects in a new way and mechanisms, pointing out that
Iraq is looking forward to the entry of Tunisian companies to benefit from the investment opportunities available in the country.
As for the Tunisian Minister of Foreign Affairs and Immigration, Nabil Ammar, he said:
Tunisia is interested in real partnerships of mutual benefit with the Iraqi private sector, noting that
international changes require us to strengthen the partnership and create attractive climates for investment, thus opening new business horizons in the two countries. He pointed out that
work is continuing to activate the reality of the economy and support innovation and leadership in reconstruction through a special plan, as we work to move towards a green economy and reduce complications, indicating that
work is underway to raise the levels of trade exchange with Iraq, because its levels are below the level of ambition.
As for the President of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, he confirmed that this forum comes as a continuation of the work of the organizing committee between the two countries, as
we have joint work between the two brotherly countries aimed at achieving a real common benefit. He stated that
the government has placed great importance on the private sector and many regulations and laws have changed, and
today Iraq is the only country that has established sovereign guarantees for the private sector, and
this is great support that advances work efforts within the country. He said:
Cooperation with the government has enabled us to change the reality of taxes and develop them to reach important levels.
We have also introduced a new system in customs, and efforts are continuing to create attractive climates for investment in various sectors. He pointed out that the
Iraq Fund for Development is open to Iraqis and Arabs and this comes within the framework of the Iraqi economic reform, and the
registration of companies has become electronic, stressing that work continues to establish an Iraqi-Tunisian council to regulate business between the two countries, as we aspire to a partnership that is beneficial to both countries, pointing out that the
volume of Iraqi imports touches 70%. Billion dollars annually from various global and regional markets, which leads us to activate the productive and service economic sectors.
In turn, the President of the Tunisian Union of Industry, Commerce and Handicrafts, Samir Majoul, highlighted the importance of exploring partnership opportunities between the two countries, praising the role of the unions in Iraq,
stressing the multiplication of cooperation between the two countries in many projects, and this requires overcoming obstacles to cooperation. He stated that
global transformations require maximum cooperation in order to reduce their impact on the two brotherly countries in light of the availability of the elements of cooperation and economic advancement.
Economic affairs specialist Haider Al-Bandar stressed the necessity of working towards developing real steps that would localize the industry locally, especially since
Iraq is open to global efforts and welcomes any international cooperation that works to activate national industries. He stated that
industry represents the focus of sustainable development, which requires us to work in a direction that leads to investing in the components of activating local industries that have raw materials within the country and then gradually expanding industries in various regions of Iraq. He pointed out that the
presence of Tunisian companies or other countries in the world in Baghdad represents an important step that gives these delegations an opportunity to see the stability it is witnessing, which enables it to activate business.   
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