The Secretariat of the Council of Ministers discusses the mechanisms of economic development with the participation of the private sector

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The Secretariat of the Council of Ministers discusses the mechanisms of economic development with the participation of the private sector

 

 

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NRT

The Secretariat of the Council of Ministers discussed Wednesday the mechanisms of developing the economy of the country with the participation of private sector companies as well as foreign investment companies .

This came during the conference "Development of the Iraqi economy for 2018", which was organized today in the presence of government and private sector .

"The General Secretariat of the Council of Ministers has organized a conference for the development of the Iraqi economy, aimed at understanding the challenges, obstacles and problems facing the private sector," said Secretary General of the Council of Ministers Mahdi Al-Alak.

He added during a press conference in Baghdad that "the meeting will make recommendations to the Prime Minister and the Council of Ministers to take decisions on them."

"The conference is very important for the private sector as it is the prime partner of the government in its construction and success," said Hamoud Al-Barzanji, General Manager of Carr, an engineering specialist at the press conference.

He added that "all the obstacles faced by private sector companies and investors were discussed with the Iraqi government departments," without giving further details .

"As international professional companies, we discussed how to develop administrative projects in the Iraqi state and how to develop and invest human resources that will directly contribute to the success of projects," said Hatem Al-Qawasmeh, head of the auditing and tax services and advisory services firm KPMG .

Qawasima, whose company has employees in more than 100 countries, added at the press conference that "it was agreed on the importance of preparing technical studies and a clear economic feasibility that reflects the expected revenues of these projects that attract investors."

Since 2008, the Iraqi government has begun steps aimed at improving the industrial, agricultural and trade sectors in order to boost the state budget with additional imports, with the exception of oil, which is the main source of Iraq's annual revenues .

 However, the government's actions were hindered by obstacles such as the inability of the local producer to compete with imported goods, which are usually at low prices .

The number of employees in the private sector in Iraq about 6 million people according to official statistics, about 200 thousand of them only registered in the Social Security Law, according to specialists in economic affairs.

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