Economic decision requires the involvement of the private sector

5/16/2016 0:00

BAGHDAD - Hussein al-Tamimi Tgb

Economists and money sees the stage and experience experienced by economically Iraq since the (2003-2016) need to be analytical and pause and evaluation dedicated to building the national economy, according to a look a new strategy for the transition to a market economy, according to the program prepared by the new government and approved by the Iraqi Council of Representatives included six themes notably economic hub.

A member of the World Union of Arab Bankers Naseer Alnasiri: The government program stressed the need to implement phase mission towards building a strategy for the development of the economy and to support and develop the private sector to take its role in contributing to the new construction of the economy and diversify its resources for the budget without relying largely on the oil.

He said in an interview with «morning »that the study of the economic reality that Iraq is going through now, according to the method of economic reform and strategic development of the private sector launched by the government in February 2015 needs to stand logical, scientific and economic on the most prominent themes that requires finding solutions and treatments in the first phase until 2017 and the second phase of the (2018 analysis --2 022) and the third phase of the strategy until 2030 , which will take over the private sector , where the leadership of the market, in order to build a proper introductions to move to the mechanisms of the market economy prompt. benchmarks He said this requires the government to own all banking and industrial, agricultural and service fields to participate and cooperate in the implementation of strategic development trends and sector that achieve progress and intermediate goals and long referred to in the above.

He noted the importance of involving the private sector a greater role in economic decision - making and leadership of the market - making by contributing to the improvement of the business in Iraq , environment and the investment climate is encouraging to attract national and foreign capital and encourage the achievement of partnerships between the public and private sector.

urged to contribute to the creation of a new legislative environment based on the terms of reference to Article 25 of the Permanent Constitution and strategies and laws on economic reform and private sector development so as to ensure its activation and its leadership of the market in the future. He went on to the importance of the perpetuation and activating the partnership, dialogue and cooperation between the private sector and government, and contribute to the development policies, mechanisms and strategies and participate in the follow - up implementation of the resolution to move the programmed stages in time to a market economy. financing sources Alnasiri between the possibility of the private sector to work towards the provision of additional sources of financing of the general budget of the State of the adoption of the development and diversification of resources towards raising the proportion of other resources in non - oil GDP, as well as to encourage the establishment and development of micro, small and medium enterprises Pmaahakq comprehensive and sustainable , including the formation of specialized institutions for the purpose of development.

He pointed out that the private sector can cooperate in ensuring the implementation of the central plans in the provision of infrastructure to encourage private sector development in industry, commerce, agriculture, tourism and mineral resources and energy and utilities, as well as activating the role of specialized banks and private banks to provide soft loans to the private sector and the national as well as finding solutions to the problems of taxes and accrued interest resulting from the owners of the stalled production projects and the development of short and medium - term fiscal policy solutions.

active participation and pointed to the importance of coordination and cooperation with the ministries and financial institutions the statistical interested in building a base of financial and statistical information and ensure transparency, effective with the government and participate in the implementation of the restructuring of public companies and facilitate partnerships with the private sector measures, as well as to contribute to ensuring the quality of local products and services and imported standards, stressing the importance of cooperation with relevant institutions in the rehabilitation and training resources human specialized in the private sector. Alnasiri urged to encourage private banks to invest in economic projects so as to enhance the proportion of its contribution to GDP and to accelerate the legislative amendments to achieve this goal, and work on private corporate governance and adoption in government and private institutions regulations legislation, seeking to pass legislation that will allow the involvement specialists and professionals from the private sector as members of corporate boards of public.