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Is a strategic partner a necessity or a luxury?
Economical 02/20/2024[You must be registered and logged in to see this image.]
Yasser Al-Metwally
Talking about the strategic partner in the field of implementing the strategic projects that the country needs requires highlighting the importance, goals and content of the partnership.
In a previous article that included an assessment of the reality of the Iraqi private sector, and we promised to complete the idea, we said that there is a need for a strategic partner in the field of investments, especially in giant projects of economic infrastructure projects that have been productive for many years, exceeding their productive life and their decline rates.
When talking about reconstruction that goes beyond that to building a nation that has been afflicted by wars and events and that destroyed most of its infrastructure, it is necessary to reveal the fact that the capabilities of the Iraqi private sector, according to previous assessments and its current reality, are insufficient to achieve this great goal despite the enormous potential and wealth that Iraq possesses, because that does not depend on the size of the country. Money depends on the nature of its use for this purpose.
For this reason, there is a need for a foreign partner to help achieve the development goal. Why and how?
The required three-dimensional strategic partnership includes the state at the top, then the Iraqi private sector and foreign companies.
What is the benefit of this partnership?
The truth is that the country’s need to rebuild its infrastructure requires giant investment companies that possess the technical capabilities, modern technology, and sufficient financial solvency to cover the large costs required by these strategic projects in order to contain the largest possible amount of integrated projects and implement them in known periods of time. Among the requirements for the need for these partnerships is the transfer of experience and training of staff. The Iraqi Company on ways to use modern technology and modern construction methods and based on previous experiences of these companies in many countries that went through the same conditions that Iraq witnessed in terms of wars, events and their effects.
It is true that the Iraqi private sector possesses some kind of experience, but it is not sufficient to accommodate the actual need for the size of the projects.
When we talk about the top of the pyramid of the strategic partner, which is the state, the partnership outcomes will help the state solve many of the distortions that have afflicted the structure of the Iraqi economy, represented by the widening unemployment rates, poverty rates, and the spread of slums that distorted the basic designs of most Iraqi cities, including the capital.
Except that the state is the largest beneficiary of the partnership and its economic feasibility in the field of reducing immediate costs and project outcomes and benefits at the level of solving most of the challenges that we have referred to. Other than that, we have a modern country that lives up to the value of Iraq, its history, its potential and its untapped wealth, which will receive a share in future investments, and thus it is complete. An image of the importance of strategic partnership, as it is for necessity, not luxury.
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