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[size=36]Governor of the Central Bank: Entrepreneurs' initiatives will be launched soon[/size]
Economy| 02:04 - 05/10/2023
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Baghdad - Mawazine News
The Governor of the Central Bank, Ali Al-Alaq, announced, on Wednesday, the imminent launch of entrepreneurs' initiatives, while indicating that there are great initiatives and efforts to solve problems that hinder the work of the private sector.
Al-Alaq said in a speech during the launch of the Europe for Iraq initiative (Tawfiq) to support diversified, sustainable and comprehensive economic development in Iraq. Financing the increasing consumer expenditures, which only increase the economic reality by further sagging and regression in growth and employment.
He added, "The initiatives related to supporting private sector projects and entrepreneurs come as a salvage of the economic situation, achieve diversification, expand the productive base in the country, and stimulate growth and employment in real economic directions, and this is what the Central Bank was deeply and clearly groping through the lending initiatives that it launched since 2015 and amounted to The volume of loans is about $15 billion so far, which is the largest amount in the history of financing in Iraq.
He pointed out that "the economic achievement must pass through the support and financing of the private sector, and also due to the absence of other policies and the absence of the state's general budget over the past years of programs and a plan to finance and support the private sector, and here it is necessary to emphasize and focus on a fundamental and important issue that we have known through the initiatives." lending to the Central Bank that financing alone is not sufficient to achieve the push towards expansion in the number and quality of projects, but it is necessary to combine other factors and achieve a suitable environment for work to launch such projects.
He pointed out that "Iraq needs to improve the ease of doing business index, as the World Bank report indicates that Iraq is at the bottom of the list," calling on the government to "give this issue exceptional and great attention in order to improve the index."
He continued, "Many projects that could have been launched within the framework of the Central Bank's initiatives have been delayed due to the conditions of the work environment, and here comes the European Union's reconciliation initiative that touches on this fact and touches on diagnosis."
And he added, "The Tawfiq initiative is trying to address problems in order to provide an appropriate environment, productive management, and solutions for cases that slow down the process of undertaking such projects," noting that "the situation now may be very suitable for launching such initiatives, as a result of the security and political conditions and progress." What the government is doing, represented by the Prime Minister, by focusing on economic priorities and achieving general stability, and it is an appropriate opportunity that now enjoys great international support for Iraq to take a path towards stability and development.
And he went on, "There is a concerted effort to understand the problems and obstacles facing the work of the private sector and various initiatives, as well as providing factors that lead to coordination of some aspects, especially since the House of Representatives is close to approving the retirement law for private sector employees, and this law constitutes a major achievement and a basic rule." important in concentrating the pillars of work in the private sector.
He stressed, "Entrepreneurs' initiatives, in cooperation with an international organization, will be launched soon, and this time it will be in a different format, which will be seen on television channels to push business initiatives and innovations towards receiving funding attention, as well as participation in certain investments stemming from these initiatives." Ended 29/N33
The Governor of the Central Bank, Ali Al-Alaq, announced, on Wednesday, the imminent launch of entrepreneurs' initiatives, while indicating that there are great initiatives and efforts to solve problems that hinder the work of the private sector.
Al-Alaq said in a speech during the launch of the Europe for Iraq initiative (Tawfiq) to support diversified, sustainable and comprehensive economic development in Iraq. Financing the increasing consumer expenditures, which only increase the economic reality by further sagging and regression in growth and employment.
He added, "The initiatives related to supporting private sector projects and entrepreneurs come as a salvage of the economic situation, achieve diversification, expand the productive base in the country, and stimulate growth and employment in real economic directions, and this is what the Central Bank was deeply and clearly groping through the lending initiatives that it launched since 2015 and amounted to The volume of loans is about $15 billion so far, which is the largest amount in the history of financing in Iraq.
He pointed out that "the economic achievement must pass through the support and financing of the private sector, and also due to the absence of other policies and the absence of the state's general budget over the past years of programs and a plan to finance and support the private sector, and here it is necessary to emphasize and focus on a fundamental and important issue that we have known through the initiatives." lending to the Central Bank that financing alone is not sufficient to achieve the push towards expansion in the number and quality of projects, but it is necessary to combine other factors and achieve a suitable environment for work to launch such projects.
He pointed out that "Iraq needs to improve the ease of doing business index, as the World Bank report indicates that Iraq is at the bottom of the list," calling on the government to "give this issue exceptional and great attention in order to improve the index."
He continued, "Many projects that could have been launched within the framework of the Central Bank's initiatives have been delayed due to the conditions of the work environment, and here comes the European Union's reconciliation initiative that touches on this fact and touches on diagnosis."
And he added, "The Tawfiq initiative is trying to address problems in order to provide an appropriate environment, productive management, and solutions for cases that slow down the process of undertaking such projects," noting that "the situation now may be very suitable for launching such initiatives, as a result of the security and political conditions and progress." What the government is doing, represented by the Prime Minister, by focusing on economic priorities and achieving general stability, and it is an appropriate opportunity that now enjoys great international support for Iraq to take a path towards stability and development.
And he went on, "There is a concerted effort to understand the problems and obstacles facing the work of the private sector and various initiatives, as well as providing factors that lead to coordination of some aspects, especially since the House of Representatives is close to approving the retirement law for private sector employees, and this law constitutes a major achievement and a basic rule." important in concentrating the pillars of work in the private sector.
He stressed, "Entrepreneurs' initiatives, in cooperation with an international organization, will be launched soon, and this time it will be in a different format, which will be seen on television channels to push business initiatives and innovations towards receiving funding attention, as well as participation in certain investments stemming from these initiatives." Ended 29/N33
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