Iraq to Form a Permanent Council for Private Sector Development, 11 DEC

 Iraq to Form a Permanent Council for Private Sector Development, 11 DEC

In a significant move aimed at fostering growth within the private sector, the Ministry of Planning in Iraq, under Prime Minister Mohammed Shia al-Sudani, has announced the upcoming formation of a permanent council dedicated to this sector’s development. This move indicates a strategic shift towards diversifying the Iraqi economy, traditionally heavily reliant on oil revenues. The establishment of this council is designed to encourage private sector participation in economic activities.

A New Dawn for the Iraqi Economy

The imminent formation of the council signals the government’s intent to create a more conducive environment for business in Iraq. It is an attempt to attract investment, generate employment opportunities and, in the long run, contribute to the overall development and prosperity of the nation. This move could mark a new dawn for the Iraqi economy, steering it away from its dependency on oil and towards a more diversified economic structure.

Encouraging Private Sector Participation

The initiative to form a permanent council for the development of the private sector is indicative of the government’s recognition of the crucial role that this sector can play in the country’s economy. By encouraging private sector participation, the government is not only looking to diversify its economic activities but also to create a more balanced and resilient economic structure. This initiative will not only benefit the private sector but will also have a far-reaching impact on Iraq’s socio-economic landscape.

Charting a Course towards Prosperity

The formation of the council is expected to catalyze the growth of the private sector, creating a ripple effect that will lead to increased investment, job creation, and economic growth. This move is a clear indication of Iraq’s strategic effort to chart a course towards prosperity and development, leveraging the potential of the private sector. With this initiative, Iraq is poised to redefine its economic narrative, ushering in a new era of growth and development.

https://bnnbreaking.com/world/iraq/iraq-to-form-a-permanent-council-for-private-sector-development/