Al-Sudani: It is time for the current plans to focus on economic diversification, 26 NOV

 Al-Sudani: It is time for the current plans to focus on economic diversification

Prime Minister Muhammad Shiaa Al-Sudani sponsored the first conference of the five-year national development plan, which was held this Sunday morning by the Ministry of Planning in cooperation with the United Nations Development Programme, and its work will continue for the period from 26-28 this November.

In a speech he delivered during the conference, Al-Sudani stressed the government’s interest in strategic plans and projects that are consistent with the 2030 Sustainable Development Vision, calling on everyone to actively contribute to building a five-year national development plan that suits Iraq’s need for real development built on sound foundations.

The Prime Minister praised the Ministry of Planning, in preparing this important document, and the efforts of the experts supporting the Ministry. He also praised the efforts of the United Nations Development Program and the United States Agency for Development, for their support of the efforts of the Iraqi government.

The following are the highlights of the Prime Minister’s speech during the conference:

The scale of the challenges requires integrated plans aimed at achieving comprehensive renaissance in the medium and long term.

Iraq has witnessed a development interruption since the 1980s. Because of wars, sieges, and counter-terrorism operations. 

Our government worked to put development back on track and launch its development plans.

The government increased the pace of implementation of existing projects, which number more than 7,000 projects, and implemented new projects that represent a high development and service value.

The government has paid attention to strategic projects that are consistent with the 2030 Sustainable Development Vision, including infrastructure projects, clean energy, the development road, Al-Faw port, and others.

The best conditions to achieve the goals of the five-year plan must be provided by the agencies concerned with its implementation, including the governorates.

- At the beginning of its work, our government supported the governorates, through the Supreme Commission for Coordination between the Governorates, which succeeded in changing many paths, and its results appeared within one year of the government’s life.

The new governorate councils will represent a qualitative addition to the work, so we were keen to create the conditions for the success of the elections, so that each governorate would have representatives, whose work would complement the governor’s.

It is time for the new development plan to have economic dimensions based on the philosophy of economic diversification.

The government has laid the foundations for economic diversification, including the establishment of the Iraqi Fund for Development, which aims to create an integrated investment environment in the country.

Initiatives have been launched that aim to change the pattern of the rentier economy, such as the “Riyada” initiative, which helps young people invest their ideas in productive sectors.

The tripartite budget included a special provision to support the private sector by granting it sovereign guarantees, which will contribute to encouraging the business and investment environment in the country.

We are working hard to support the private sector and complete the formation of its development council, as it represents the primary partner of the government sector.

- If we succeed in achieving economic diversification, providing a fertile investment environment, and strongly introducing the private sector into the development scene, the reality of the situation will change.

We are continuing to build a network of economic relations between Iraq and the countries of the world, built on the foundations of mutual interests.

The government worked to reform the banking and financial sector, by automating all economic and service activities.

- We have begun to automate work at border crossings, and established the shift towards the use of electronic payment in all market and commercial transactions.

The five-year development plan must adopt digital transformation, by adopting electronic systems in all aspects of life.

We need sound development data and indicators in order to make development plans successful, and this requires conducting an accurate and comprehensive census of the population, their places of residence, and their work environments.

We decided to conduct the population census next year, 2024, and directed that all financial and logistical requirements be provided to make it successful.

-The five-year development plan should create space to achieve good governance, establish appropriate mechanisms to fight corruption, and dry up its sources wherever they are.

The existence of a five-year, verifiable development plan indicates a state of security, political, social and economic stability.

The results of development plans must reflect positively on vulnerable segments of society, by providing housing, education, and health, improving income levels, and reducing the effects of climate change.

- During its first year, the government worked to reduce poverty and unemployment rates, through the social protection network, improving the food basket, paying attention to health and education projects, services and infrastructure, working to not inherit poverty among poor families, and establishing a fund to support the poorest areas.   link