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The Iraqi government marks the "biggest challenge" to the country's economy
Shafaq News/ The Iraqi Minister of Planning, Khaled Battal Al-Najm, said on Thursday that the biggest challenge facing the Iraqi economy is the transition towards the real private sector that depends on its capabilities under the circumstances of the country, calling on representatives of this sector to determine what is required of the government to take care of them.
And the ministry’s media, in a statement received by Shafak News Agency, quoted Al-Najm as confirming during his presidency of the fourth session of the Private Sector Development Council, (which was held yesterday, Wednesday), that we are working very seriously in order to overcome all the difficulties and challenges facing the transformation process and enable this vital sector, By identifying and diagnosing problems and then developing the solutions and treatments required for them, indicating that one of the problems is the presence of an intersection in the relationship between the industrial and commercial sectors, and this calls for integration between them.
The minister pointed out that there is a great need for an effective development banking sector, capable of preparing the fertile investment ground for the private sector, and enabling it to implement government development policies, and therefore we need bold and courageous decisions that contribute to the development of the private sector, calling on the representatives of this sector to determine what is required of the government. to take care of this sector.
He stressed that the Ministry of Planning is responsible for following up the procedures for developing the private sector, through a map of short-term measures, and working to amend the investment law and laws that ensure meeting the requirements for establishing small and medium enterprises, as well as working on studying the possibility of using the spaces supported by government agencies in Business activities with small and medium companies.
The Minister of Planning explained that one of the paths to developing the private sector is setting a transitional plan for the sale and purchase of goods and services provided by public companies, with an assessment of the viability of these companies to continue or not, and categorizing them into successful, stumbling and failing, and activating restructuring procedures and transforming them into companies operating with commercial approaches. Concluding his speech by saying, that work is underway to set standards for defining infrastructure projects and large service projects, with the aim of implementing them through partnership between the public and private sectors.
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And the ministry’s media, in a statement received by Shafak News Agency, quoted Al-Najm as confirming during his presidency of the fourth session of the Private Sector Development Council, (which was held yesterday, Wednesday), that we are working very seriously in order to overcome all the difficulties and challenges facing the transformation process and enable this vital sector, By identifying and diagnosing problems and then developing the solutions and treatments required for them, indicating that one of the problems is the presence of an intersection in the relationship between the industrial and commercial sectors, and this calls for integration between them.
The minister pointed out that there is a great need for an effective development banking sector, capable of preparing the fertile investment ground for the private sector, and enabling it to implement government development policies, and therefore we need bold and courageous decisions that contribute to the development of the private sector, calling on the representatives of this sector to determine what is required of the government. to take care of this sector.
He stressed that the Ministry of Planning is responsible for following up the procedures for developing the private sector, through a map of short-term measures, and working to amend the investment law and laws that ensure meeting the requirements for establishing small and medium enterprises, as well as working on studying the possibility of using the spaces supported by government agencies in Business activities with small and medium companies.
The Minister of Planning explained that one of the paths to developing the private sector is setting a transitional plan for the sale and purchase of goods and services provided by public companies, with an assessment of the viability of these companies to continue or not, and categorizing them into successful, stumbling and failing, and activating restructuring procedures and transforming them into companies operating with commercial approaches. Concluding his speech by saying, that work is underway to set standards for defining infrastructure projects and large service projects, with the aim of implementing them through partnership between the public and private sectors.
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