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The private sector is in the balance
Economical 02/12/2024
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twally
Evaluating the performance of the Iraqi private sector in particular is unrealistic or, let us say, inaccurate. To know its true weight, its concept must be addressed and subjected to a comparison of different points of view regarding it.
In light of the free economic approach, the private sector is the main basis in managing the economic file in several aspects, including construction, reconstruction, and implementation of strategic projects to achieve development.
Of course, this is followed by the private sector’s management of most aspects of the productive and service economic sectors, while the state’s mission is to supervise, follow up, and present plans that include the country’s requirements and needs for strategic projects and its infrastructure, from its global perspective (the free approach).
While the role of the private sector in the totalitarian regime is marginal, if not completely absent, given the dominance of the public sector over all aspects of the economy.
Here a question arises, according to which approach do we evaluate the Iraqi private sector? Is he absent or absent?
It is assumed that the economic approach in Iraq is a (free) market economy, and this is what was included in the constitution after the period of change in 2003, as the period after this change was considered transitional from totalitarian to free.
Here an important question arises: Are (20) years not enough for the transition?
Hence, the private sector is, as an axiom, absent from performing its role due to the continuation of the totalitarian economic culture enshrined in the state’s mentality in general, as evidenced by the fact that the private sector does not have a clear role in managing the economic file, and this defect contributed to weakening its role and distorting its true image, and this resulted in its transition from a producing sector to an importing one. .
Therefore, the prevailing wrong idea was built on the private sector that it is weak and does not rise to the level of the role that must be played. This is how its image is distorted. Therefore, there are several reasons, including objective ones related to the weakness or lack of laws motivating the private sector. What is the depth of the loss of confidence in this role? Add to that the entry of emergency elements that do not have the capabilities. Technical, administrative, and financial solvency. Therefore, its size appears to be weak and insufficient to cover the country’s needs for construction and reconstruction projects.
There is an intrinsic reason related to the private sector, which is its inability to market itself properly. There are many achievements achieved by the private sector, but they are not visible to the public due to weak media marketing for these projects, including giant and development strategies.
One of the most important tasks of the successful private sector in the world is to create creativity by embracing youth talents and supporting them through patents, with the aim of developing these talents, and this is also missing.
All this is happening despite the fact that there is an awareness and acknowledgment that there is no real development in Iraq without an effective role for the private sector, as global experiences have proven.
What is required for him to do his part?
It needs strong, effective and supportive legislation and laws that do not intersect with obstructive legislation. On the other hand, we need a real screening and evaluation of who deserves to have the status of a private sector and has outstanding contributions to be assigned to implement strategic projects, that is, without random referrals to important projects.
Despite this, we need a strategic partner from foreign investments, and this is what we will discuss in later articles.
Will we witness real attention and a will to highlight this role? We will watch and see.
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