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The Development Fund is a step to revive the economy
Economical 09/13/2023
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Baghdad: Hussein Thaghb Al-Tamimi
International economist Faris Abdel Wahab described the Iraq Fund for Development as the most important step to restore the Iraqi economy to the forefront and develop its joints, provided that it has an effective management with high experience that works in accordance with the global contexts approved for managing these funds internationally. He stressed that this fund is the beating heart of the Iraqi economy, and we have great hope that it will begin to achieve effective field achievement in various sectors and during specific time periods, pointing out that the interest of Prime Minister Muhammad Shia Al-Sudani gives this fund more sobriety in performance and gives it the strength to reach the goals in an appropriate manner. easier.
Abdel Wahab stressed that the most important aspect of the success of this fund lies in the management, which must be at a high level of experience and integrity, far from all forms of affiliations and not subject to any influence whatsoever, in order to preserve the objectives of establishing this fund, which represents the hope of moving the national economy.
At a time when government sources had focused on the fact that the Iraq Fund for Development would bring a volume of investments that would meet Iraq’s actual needs, and would be present on the ground implementing the projects that were entrusted to it or that it came to implement, and within their specified time periods, benefiting from the large volume of facilities provided for these investments, The projects are kept away from all the complications that accompanied the implementation of projects during the past years, and it confirmed that the size of the Iraqi labor market is large and can absorb specialized local, regional and international efforts and possesses financial solvency and advanced technology, as companies without the required specifications cannot work in the country and enter the Iraqi labor market. We return to the cycle of procrastination that has harmed the national economy and made it suffer a decline in most of its joints.
Abdul Wahab returned to say that the management of the fund must have qualifications, independent of political loyalties, and that this fund must be far from bureaucracy and corruption, and from here is the real beginning to change the reality of project implementation, as the paths to achieving the goal will be clear and regular, resulting in real projects on the ground. reality.
Abdul Wahab stated that Iraq cannot advance its economy without regular work, and we must benefit from the advanced global effort that can be supportive of the national private sector, since the work space in Iraq is very large and accommodates a wide local and global effort, and from here we must set out to build the national economy clearly. It is well-thought-out and has well-planned plans prepared for this trend.
He pointed out that the Iraq Fund for Development provides suitable work climates for local, regional and international investments, and hence we must be careful in choosing sectors that can achieve guaranteed successes, especially those whose raw materials are available within Iraq, such as the agricultural and oil sectors.
He explained that the Iraqi private sector can now work on implementing projects that have weight in Iraq, but this still needs the elements for business success, which is represented by support that facilitates the task of implementing projects, and here it is possible to benefit from global experiences in this field, as developed economies have relied on productivity. and private sector investments,
The United States of America relied on the private sector by 80 percent, while Britain relied on the private sector at 75 percent, while China, which used to rely 100 percent on the public sector, today has reached 50 percent of its reliance on the private sector.
The percentage is constantly rising.
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