Economist: Iraq possessed large amounts of capital in the private sector

Economist: Iraq possessed large amounts of capital in the private sector



09/12/20140



Represents poverty reduction and job creation a major challenge facing the government and puts the public and private sectors in front of face is studied by the laws of supportive legislation at the government level to be able to find suitable jobs in the private sector contribute to absorb unemployment, finding a job. In this context, said Dr. Majid academic economic Baidhani: that partnerships with global institutions specialized development is an important factor in reducing the poverty gap in the country because they contribute to job creation in the private sector and strengthen its role in the economy of Iraq. He explained: that Iraq possessed large amounts of capital in the private sector which is the important factor in finding a job in addition to that the private sector has production facilities enable it to create a 9 out of every 10 jobs, noting that the private sector can stimulate innovation because it is free of bureaucracy and red tape, as opposed to the public sector flabby, confirming its ability to produce goods and services needed to improve living conditions of the people and to achieve revenue for them. And facing the private sector, several challenges perhaps the most notable energy and security, but he is able to take the lead if it is allowed government support the enactment of new legislation suit the current stage accompanied by a glance to the prospects of future positive and pointed Baidhani that economic growth and employment are inextricably linked, where economic growth is very important to explain the growth 
of the business, which contributes to economic growth by increasing the value-added and income.

He continued: Helps growth through productivity improvement, in particular with a workforce of low-skilled, what contributes to the overall growth, pointing out that when it comes to long-term solutions to eliminate unemployment, the private sector - which provides about 90 percent of jobs in developing countries-provides an excellent starting point.

He explained: that the work of international institutions specialized in the development, financing private sector investment, mobilizing capital in the international financial markets, and providing advisory services to each of the subsidiary companies to the private sector and local governments, where the lead to enable companies to grow and create jobs and employment opportunities, and improve governance companies and environmental performance, and contribute to the strengthening of the community. He concluded by saying that the private sector provides the most effective means-tested and proven to end poverty at a fast pace, but he also, but the development of the private sector does not arise in a vacuum, but stops occur on the ability of governments and the private sector to work together to ensure the operation of business enterprises, companies and achieve growth in ways that enhance the prosperity and affluence for all

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