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Call for an active role for the private sector in economic development

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17/07/2012 0:00

Of its importance in the process of economic transformation
BAGHDAD - Hussein Tgb Tamimi
said economist importance of interaction of government and the private sector to determine the kinks in all economic sectors and mechanisms go by to safety, and start stages new from which to achieve a comprehensive development represent mainly to the economy of a future strong.
said economic expert Saif Hilfi (morning) that the local economy needs to government efforts that could provide an environment encouraging investment to work as well as harnessing the capacity of the private sector in the stages of construction and reconstruction wide, which include the general areas of Iraq.
He pointed to the importance that there should be an active role for the private sector in the life economic in the coming period, especially the developed countries adopt private sector tributary to their economies that have achieved great success during her career over the past decades.
He noted that the trend towards the private sector in developed economies is supporting the most prominent to achieve sustainable economic development in production and service sectors, pointing out that Iraq's constitution stipulates that the moving the country towards a free economy, which is the private sector pillar mainly in the development process.
He added that the process of promoting enterprise productivity and service required to provide an appropriate environment for the work of the private sector because it is a tributary of the foundation of the national income, in the possession of the country to the kegs important investment in the forefront of the incubator oil, which includes two important aspects the twin processes extractive and owned by the joint of the area of work and wide can Todifaa larger efficiency in the service of the local economy, while the other side is the industry refining and which need great efforts for the advancement of Bmphasalha, and here there is a need to the role of the private sector in presence of the actor and the implementation of actions and projects according to international standards owned by the executing company, which imposes at the same time building a private sector discreet integrated.
He added that the country has the cans, large investment in the housing sector, infrastructure, industry and agriculture, especially as the government budget is unable to provide expenditure necessary of these, sectors and can be employed private sector to enter and invest in sectors which requires orientation to create a legal environment attractive to capital and specialized international companies.
He said that work on the formation of joint committees between the government and the private sector is very important because they take it upon themselves to overcome the obstacles in front of the march of Investment and Construction sought by the country, pointing to the importance of standing at the legislation to limit the implementation and completion of the business, where there are old laws that conflict with the laws existing investment, and should be closer to the committees of the requirements of the private sector, particularly the detailed private banks, which are the most important tributary to the private sector, which reached the heads of their funds to (15) billion dollars, and these large sums of money with Aidaatha.
On the subject of the deletion of zeros pointed out that the most important sectors influential in this decision is the consumer goods sector, which requires a plan for this project provides all the requirements of the success of this approach without negative effects on any of the sectors economic development.
He said the confusion made ​​in the process of the exchange rate of the dollar carry a negative impact on the Iraqi economy in general, which requires a stop at the needs of the private sector effectively to put Maihtaj of money can be pumped through the auction currency, we find that the dollar exchange rate began to return to the rates natural, calling for the need to turn the central bank to cover letters of credit opened by banks, civil by entering auction drafts and I think that the central bank tries to draw the private sector to the issue of opening letters of credit.
He added there is lack of understanding of most government institutions and the Iraqi street to the concept of policy Cash used by auction drafts, why this auction and this way? The answer is because of the occurrence of Iraq under Chapter VII and its impacts has become the trend towards the adoption of this auction because the imports of the private sector and the task of providing the commodity, which must provide Akiemh hard currency and this took refuge in the central bank to provide financial coverage it through this auction.

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