Invitation to invest in agriculture and industry

Invitation to invest in agriculture and industry

 

06/8/2017 12:00 am

Baghdad / Emad Al-Amara
The correction of the imbalances in the Iraqi economy requires the development of ambitious development plans to achieve the harmony between the objectives of the internal economic balance represented by raising the rates of economic growth and increase the level of employment and reduce inflation rates to acceptable levels determined by the monetary authority, with the goal of external economic balance represented by balance of payments. Al-Jabri stressed that the Iraqi economy requires diversification of sources of income so as not to be dependent on fluctuations in oil prices, and this is what we are living in the present time and the impact of negative repercussions on the state budget.


Foreign investment and
rising votes by economists and those interested in the need to work to encourage investment in all sectors, especially productivity to enable the country to achieve a real diversity in the revenues that support the budget and make them do not suffer from a chronic deficit affects negatively the reality of the Iraqi economy.
Al-Jabri said in an interview with Al-Sabah that investment and investment in the real economic sector (agriculture and industry) should be stimulated and opened to foreign direct investment because it plays a special role in reducing production costs and improving quality through the use of advanced technology,
Local. Correcting the imbalances He pointed out that the large volume of foreign investment in these areas can lead to economic growth, which provides jobs that reduce the unemployment suffered by the economy, and thus reduce pressure on the public budget and correct the imbalance in the structure of the national economy. The productive sectors in Iraq have witnessed a marked decline in recent years due to a number of factors that contributed to the lack of clarity of the overall vision and the future reading of the economic reality and the consequences of international sanctions, coupled with poor coordination to achieve a balance between exports and imports. Al-Jabri called for providing an environment conducive to attract foreign investments through enacting the appropriate legislation and laws to stimulate foreign investment and provide adequate guarantees for this, through adopting the method of partnership between the foreign investor and the local investor while preserving the Iraqi identity, thus activating the role of national capital to complement the capital Foreigner down to achieve high growth  rates. The financial surpluses stressed the need to work to reinvest part of the financial surpluses generated from foreign investment at home to develop the project itself or to finance other investment projects with backward and backward linkages to be an investment catalyst for diversification of productive activity. "This reduces pressure on the budget in terms of spending and reduces the deficit of the current account and provide a surplus in the current account can be used to finance spending.

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