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Invitations to launch investment licensing rounds in various sectors
Iraq 2023/05/04
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Muhannad Abdel Wahhab
Specialists and experts called for launching investment licensing rounds in the tourism sectors and building commercial and industrial cities to change the country's economic reality and not remain in a spiral of dependence on a single commodity (oil). .
A member of the Parliamentary Investment and Development Committee, Asaad Al-Bazuni, said in an interview with “Al-Sabah”: “As a result of the large deficit in the 2023 budget, the government is taking positive and accelerated steps towards the investment file and working with the private sector,” noting that “dealing unilaterally with the oil sector does not It fulfills the purpose, so the government was an initiative to support the investment file in a large way, but we need serious and effective steps to take care of this file in line with the general situation of developing countries that have taken investment as a real field for developing their resources.
Regarding the allocation of funds for the investment file, he added, “There were several discussions with the Prime Minister, and it was expected that 7 trillion dinars would be allocated, so the amount was reduced to 3.5 trillion, until it reached the amount (one trillion dinars), and despite that, it is a first gesture.” And for the first time, an amount has been allocated to the Investment Development and Investment Marketing Care Fund.
He pointed out that "if we look at investment projects, we find that the investor goes to the provinces that are considered an investment and commercial market and supportive of the economy, such as Baghdad, Basra, and other provinces capable of development that the eyes of investors fall on, so we must support the poor provinces with investments."
For his part, the economic expert, Dr. Qusai Safwan, said: "It is clear that the government of Prime Minister Muhammad Shia'a al-Sudani is trying to reduce the unemployment rate in society, especially in the poor governorates," noting, "In the governorates of Muthanna and Diwaniyah, 500 billion dinars have been allocated to each of them annually, and the amount is repeated during Three years at a rate of one trillion and 500 billion dinars each in order to lift these provinces out of poverty and unemployment, as well as mobilize the service private sector in those provinces through the paper and rubber industry in Diwaniyah, the cement industry in Muthanna and linking the province to the Kingdom of Saudi Arabia by reviving the Jumaimah port road that It will contribute to the revitalization of these provinces, in addition to the possibility of investing renewable groundwater in creating an industry in those provinces, and the possibility of investing in the desert with solar cells through the initiative of the Central Bank.”
And he continued: "What was allocated to Muthanna and Diwaniyah was similar to the governorate of Dhi Qar, for which 2.5 trillion dinars were allocated for the benefit of the Development Fund," adding that "this step supports the process of stability, non-displacement, thinking of emigration and going to oil provinces such as Basra and Amara," noting that " Having a state of sustainability in this process created a kind of stability.”
He added, "It could include the province of Babil with an additional amount of 500 billion dinars due to the level of poverty in it, and the province will have funds that go to the Reconstruction Fund," explaining that "this comes to create a balanced structure between the provinces, given that there are oil provinces that get (petrodollars). There are provinces that do not have oil and suffer from a scarcity of funds, so the redistribution of funds and public spending will contribute to creating balanced development." He explained that "the investment sector can be managed by licensing rounds at the level of the tourism sector and at the level of establishing commercial, industrial and technological cities, and the process of managing the investment file always needs public spending in order to create a state of flexibility and provide job opportunities."
Edited by: Muhammad Al-Ansari
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