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[size=36]Government Advisor: New Shopping Centers Will Reduce Unemployment, Create Competitive Movement[/size]
Local | 03:16 - 12/10/2024
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Mawazine News - Baghdad
The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Saturday, that the competitive central markets in the capital aim to improve the consumer experience and secure new workers, while indicating that they will gradually reduce unemployment rates, and identified their advantages.
Salih stated in a statement to the official agency that "the General Company for Central Markets, one of the formations of the Ministry of Trade, had previously announced its new marketing policy since March 2024, that it will continue to refer its sites and markets for investment, in accordance with Investment Law No. 13 of 2006, as amended, in order to achieve economic balance, support the Iraqi consumer and provide a high operating climate."
He added: "It is noted that the marketing policy of the General Company for Central Markets, through the strategy of partnership between the state and the private sector, has undertaken to activate a pattern of market stability patterns by providing competitive marketing outlets that meet the needs of the poor and limited-income classes, through the best consumer products in terms of quality assurance and price stability."
He added: "This is in line with the pivotal role played by the Competition and Anti-Monopoly Council issued under Law No. 14 of 2010, which aims to protect purchasing rights from monopoly and manipulation of citizens' food, in addition to the role of marketing activity based on the principle of investment, which will be a tool to provide job opportunities for young people from working and unemployed people through the provision of various services required by marketing activity for the operation of central markets."
He noted that "based on the above, the supervisory and regulatory role of the Ministry of Commerce in regulating central markets through investment comes from our point of view within the framework of what can be called: (competitive central consumer markets), which are markets that witness strong competition between companies and sellers to provide consumer products and services."
He pointed out that "in these markets, companies compete to provide the best prices, ensure product quality and quality services to attract consumers, which leads to improving the overall consumer experience with higher levels of employment and securing new workers to work in central marketing activity."
He added: "Competitive central markets that operate on the basis of investment by the private sector are characterized by the following:
1- Diversification of products, by providing a wide range of products and services from different brands.
2- Creating a sustainable climate of competitive prices and suppressing monopoly, as sellers will seek to provide offers and price discounts to encourage customers to buy.
3- Providing logistical services to consumers, which are added services such as delivery services, loyalty programs, or after-sales services that increase the attractiveness of the market. These are intertwined joint operational activities that always require chains of work."
He added: "It is no secret that companies displaying their products in competitive central markets will practice (innovation), by providing new or innovative solutions for their products or in how they are presented, to remain attractive in light of the new climate of competition in organized markets."
He explained that "competitive central markets will rely, in providing access to them, on strong distribution systems that enable consumers to easily access the products offered by central markets."
He concluded his speech by saying, "It is also no secret that competitive central markets based on investment will enable companies with solid brands to benefit from the capacity and role of central markets throughout the country to always offer something distinctive that suits the lifestyle and lifestyles by improving their products using the best technologies to increase their market share, in addition to transferring global marketing knowledge to the new young workforce and gradually reducing unemployment rates."
Earlier, the Ministry of Trade announced the completion of preparations to open five new shopping centers in Baghdad, operating according to the hypermarket system, and contributing to creating a balanced commercial environment that works to combat the phenomenon of rising prices in local markets, and rethinking traders and importers about prices due to the existence of a government-supported alternative.
Salih stated in a statement to the official agency that "the General Company for Central Markets, one of the formations of the Ministry of Trade, had previously announced its new marketing policy since March 2024, that it will continue to refer its sites and markets for investment, in accordance with Investment Law No. 13 of 2006, as amended, in order to achieve economic balance, support the Iraqi consumer and provide a high operating climate."
He added: "It is noted that the marketing policy of the General Company for Central Markets, through the strategy of partnership between the state and the private sector, has undertaken to activate a pattern of market stability patterns by providing competitive marketing outlets that meet the needs of the poor and limited-income classes, through the best consumer products in terms of quality assurance and price stability."
He added: "This is in line with the pivotal role played by the Competition and Anti-Monopoly Council issued under Law No. 14 of 2010, which aims to protect purchasing rights from monopoly and manipulation of citizens' food, in addition to the role of marketing activity based on the principle of investment, which will be a tool to provide job opportunities for young people from working and unemployed people through the provision of various services required by marketing activity for the operation of central markets."
He noted that "based on the above, the supervisory and regulatory role of the Ministry of Commerce in regulating central markets through investment comes from our point of view within the framework of what can be called: (competitive central consumer markets), which are markets that witness strong competition between companies and sellers to provide consumer products and services."
He pointed out that "in these markets, companies compete to provide the best prices, ensure product quality and quality services to attract consumers, which leads to improving the overall consumer experience with higher levels of employment and securing new workers to work in central marketing activity."
He added: "Competitive central markets that operate on the basis of investment by the private sector are characterized by the following:
1- Diversification of products, by providing a wide range of products and services from different brands.
2- Creating a sustainable climate of competitive prices and suppressing monopoly, as sellers will seek to provide offers and price discounts to encourage customers to buy.
3- Providing logistical services to consumers, which are added services such as delivery services, loyalty programs, or after-sales services that increase the attractiveness of the market. These are intertwined joint operational activities that always require chains of work."
He added: "It is no secret that companies displaying their products in competitive central markets will practice (innovation), by providing new or innovative solutions for their products or in how they are presented, to remain attractive in light of the new climate of competition in organized markets."
He explained that "competitive central markets will rely, in providing access to them, on strong distribution systems that enable consumers to easily access the products offered by central markets."
He concluded his speech by saying, "It is also no secret that competitive central markets based on investment will enable companies with solid brands to benefit from the capacity and role of central markets throughout the country to always offer something distinctive that suits the lifestyle and lifestyles by improving their products using the best technologies to increase their market share, in addition to transferring global marketing knowledge to the new young workforce and gradually reducing unemployment rates."
Earlier, the Ministry of Trade announced the completion of preparations to open five new shopping centers in Baghdad, operating according to the hypermarket system, and contributing to creating a balanced commercial environment that works to combat the phenomenon of rising prices in local markets, and rethinking traders and importers about prices due to the existence of a government-supported alternative.
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