Iraq needs to address funding issues

Iraq needs to address funding issues

Economic  11/12/2024
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Economic circles explained that the reason for the decline in the expansion of projects inside Iraq lies in the financing of these projects, which represent the cornerstone for developing the economic, service and production sectors in the country. They indicated that the paths of activating financing require that we have elements that attract foreign capital to Iraq, which is an important labor market for many international companies, especially after the features of the development path began to appear on the horizon, and its first steps began from the port of Faw. 
Member of the Businessmen Union, Dr. Murtada Al-Khafaji, told Al-Sabah: Iraq needs capital that can be invested in Iraq and achieve great benefit for Iraq and for the global partner that comes with its capital and advanced technology that it possesses. 
Al-Khafaji added that the lack of funding represents an obstacle to developing economic performance, pointing out that Iraq needs more than 200 billion to start serious work on building development projects in all areas of Iraq and creating a work cell of great benefit to Iraq and the global market, especially since the reality of Iraq is of interest to many specialized international companies that own capital and advanced technology and realize the weight of Iraq in the global economic arena. 
In turn, member of the Baghdad Economic Forum, Jassim Al-Aradi, pointed out the inevitability of activating the real economic sectors that represent the axis of addressing the chronic economic problems in Iraq, and which contribute to achieving a real diversity of financial revenues. 
He said: The economic reality in Iraq requires serious work to attract specialized investments to the Iraqi field of work, which requires the presence of solid companies capable of bringing technology and production lines that will move the Iraqi economy to a new stage.
He stressed that the solution to the financing problems in Iraq is through the local and international private sector that has the executive capabilities, and here we must work carefully and precisely to communicate with the targeted companies that can enter the promising Iraqi market.
It is noteworthy that economic experts have stressed on more than one occasion the need to overcome these limitations by providing funding sources, and the importance of providing a specialized economic vision that is in harmony with investment, which demands the provision of an investment environment that guarantees its rights, pointing to the need to benefit from the global openness towards Iraq and the presence of international delegations at various governmental and unofficial levels, especially those who have expressed a desire to work inside Iraq.  

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