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​Majid al-Saadi: The advancement of the Iraqi economy is not impossible

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Majid al-Saadi: The advancement of the Iraqi economy is not impossible

Saturday 25 May



Baghdad / Al-Sabah 
The expatriate economic expert d. Majid al-Saadi said that "addressing the challenges of economic advancement is not impossible." I find that the situation in Iraq is better. We have a sound economic vision and the official and the citizen feel that they have reached the stage of no return. 
He said in an interview for "morning": "The process of promoting the Iraqi economy, requires addressing several challenges, the most important corruption, and the intersection of legislation issued under a comprehensive system, not appropriate to the stage of transition towards an open market economy, Infrastructure to attract investment. "
National economy
Al-Saadi added that "the transition phase experienced by the economy requires work towards building an integrated legal system commensurate with the new trends of the local market, and must be away from the national economy of the case of duplication of the identity of the economy," calling for "to benefit from the experiences of the successful state and expertise of Iraq's expatriate owner of experience and heads Funds in the reform of administrative systems and planning for the stage of construction and reconstruction required by all regions of the country. 
Development of services
He pointed out that "corruption is a tool of terror facing all investments, and the Prime Minister's directives to form an anti-corruption council represents an important step on the road to assess the reality of work," calling for "work is to define corruption and there is legislation on this side, To raise awareness is aimed at everyone, everyone must understand that the lack of corruption means progress in services and transfer to a better stage progress to society, the private sector must have a major role in the development of Services".
Investment Customizations
He pointed out that "the country has more than five million employees and there is a new employment and this needs to be reviewed, because it affects investment allocations," not to "privatization is one of the most important treatments for disguised unemployment in many institutions, where it is necessary to adopt this trend with Take advantage of global experiences in this Turning. "
Al-Saadi said that "an international experiment adopted in a personal way in this field was to lead the private sector to the investment of one of the international factories losing, which was managed by 4 thousand employees, which 
Investment period  
Called for the adoption of several measures, the most important of which is the development of a plan to reduce the number of workers to 1500, through the adoption of a mechanism of demobilization, does not affect negatively on the social reality of workers by paying salaries of 12 years for each employee, and this prompted the majority to submit requests to include this plan, Employees and then go to the concerned departments to provide the necessary facilities for investment success, where the contract was contracted with public institutions to buy production for two years and extend the investment period from 10 to 20 years, as well as bringing a technical partner and another financier and these procedures worked on the success of this project, "Many of those who have left have turned to L The establishment of small businesses and provided jobs and eased the burden on the State budget ". 
Saadi stressed that "the advancement of all aspects of life within the country in dire need to develop the type of education, and that there are training programs aimed at educational competencies at all stages, and must include the curriculum (courses) in administrative structures," and that education is the basis for the correct construction of all joints Performance within Life ".
He explained that "the investment side in the world necessitates securing 20 percent of the costs of the project by the investor, and the remainder is considered bank loans provided by the banking system after the confirmation of the economic feasibility of the project, but in Iraq, the device for my private bank was busy during the past years without this trend until recently , But now most banks have started looking for products, including financing.
Saadi stressed that "education and teacher are the basis of the correct construction of the country, and there are difficult tasks for the concerned bodies to promote the type of education and deal with a number of ideas that prevailed in the community, which requires that there are ongoing training programs targeting this category, "He said.
Economic blocks
And the development of the reality of work and its market in Iraq Saadi said "the importance of orientation towards the identification of new areas of work attract investors and investments of all kinds, and here must be these sites equipped with infrastructure by the state, and when the lack of necessary allocations there is the possibility to move towards economic blocs able to implement, Where it can be the implementation of an international highway and on both sides of the road are the establishment of these areas, which have all the elements of business success, and here must be aware that all solutions to the problems of the national economy lies in the extent of the possibility of activation Investment ".
He stressed "the importance of benefiting from the Iraqi expatriate talents, which exceed 5 million expatriates and have enormous financial potential, and can be a cornerstone in the construction and reconstruction, especially as they have experienced important international experiences, and are able to support the national economy."


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