Alnasiri: market leadership begins to involve the private sector in economic decision - making

Views 35 Date 05/17/2016 - 18:01

Economy News / special

A member Allcil Advisory Mtantdy Baghdad Economic since 2003 until the present time over Iraq important stage in its economic system which included the change beginning of new applications for economic construction depends build introductions transition from the philosophy and strategies of the central economic system in the management of the economy to the philosophy and strategies and mechanisms of a market economy.

The most important hallmark of this stage is the pilot exercise and assumptions that economic policies that rely primarily on the experiences of countries preceded us in the application of market economy mechanisms without relying on the fundamental economic underpinnings for this transition, as confirmed all the studies and reports issued by the World Bank and the International Monetary Fund.

So it has sensed economists and money in Iraq that stage and experience experienced by economically Iraq since the (2003-2016) amounting to thirteen years 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 honest the Iraqi Council of Representatives included six themes notably the economic hub, which emphasizes 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,

and for the purpose of discussing and studying 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, it is necessary to stand logical, scientific and economic analysis on the most prominent themes that requires finding solutions and treatments in the first phase until 2017 and the second phase of the (2018 - 2022) and the third phase of the strategy until 2030, which will be the private sector where market leadership, in order to build a proper introductions to move to a market economy mechanisms, prompt,

and requires for the purpose of implementation of this strategy by the government and the private all banking and industrial, agricultural and service fields to participate and cooperate in the implementation of development trends that achieve strategic sector interim targets, medium and long referred to in the above.

This means engaging the private sector a greater role in economic decision-making and lead the market through the following:

1. contribute to the improvement of the business environment in Iraq and providing encouraging investment climate to attract domestic and foreign capital and encourage the achievement of partnerships between the public and private sector.

Contribute to the creation of new legislative environment based on the terms of reference to Article 25 of the Permanent Constitution and the laws and strategies for economic reform and private sector development so as to ensure its activation and its leadership of the market in the future.

2. perpetuate and activating the partnership, dialogue and cooperation between the private sector and government.

3. contribute to the policies, mechanisms and strategies and participate in the follow-up implementation mode to resolve the transition stages programmed in time to a market economy.

4. Work on 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 the non-oil GDP.

5. Work on promoting 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.

6. cooperation 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, energy, and services.

7. 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.

8. coordination and cooperation with the ministries of Finance and statistical and institutions involved in the construction of the base and statistical financial information and ensure transparency.

9. actively participate with the government in the implementation of the restructuring of public companies and facilitate partnerships with the private sector measures.

10. to contribute to ensuring the quality of local products and services and imported standards.

11. cooperate and contribute with relevant institutions in the rehabilitation and training specialized in the private sector and human resources.

12. 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.

13-work on private corporate governance and adoption in government and private institutions, and seek to issue legislation that allows the involvement of specialists and professionals from the private sector as members of the boards of directors of public companies regulations legislation.

14. adopt a framework for the definition and identification and evaluation of entrepreneurs and help them and support them to establish relationships with their counterparts regionally and internationally (through business incubators).

Content link