Economist: The path of development will reduce unemployment and reduce dependence on oil as a source of budget, 2 SEPT

 Economist: The path of development will reduce unemployment and reduce dependence on oil as a source of budget

9-1-2023

Economist - The path of development will reduce unemployment and reduce dependence on oil as a source of budgetInformation / Baghdad..

Hashem Al-Baydani, a researcher in economic affairs, confirmed, on Friday, that the unemployment rate will be significantly reduced in the event of proper planning for development path projects, pointing out that the revenues of this path can reduce dependence on oil as a source of financing the budget.

Al-Baydani told Al-Maalouma, “The aforementioned road can push the Ministry of Industry, as well as private sector companies, to invest large areas near this road to establish factories and laboratories, and open the door for investment in front of international companies to bring their factories to Iraq to reduce transportation costs.”

He added that “constructing the road and opening projects on both sides of it can eliminate a large percentage of unemployment, since most factory owners want to export their products at reduced transportation costs, and this can be achieved by offering land near the road for investment or rent.”

And he indicated that “the establishment of factories, laboratories and projects on both sides of the road needs thousands or millions of workers and specialists, and this is something that can be invested in the right way and open the door for giant companies to invest, provided that the labor force is Iraqi, and it is possible to reduce customs duties or grant permits to open factories and factories for foreign investors.” With the aim of introducing new revenues to the country and reducing unemployment rates.

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