Government advisor identifies 4 directions to activate the private sector in Iraq, 18 OCT

 {Economy: Al-Furat News} The financial adviser to the prime minister, Mazhar Mohammed Saleh, confirmed Iraq’s ability to revitalize the private sector through development funds.

Saleh told {Euphrates News}: “The funds allocated to development funds can be greatly used to activate the private sector in Iraq, especially in light of major projects such as the large port of FAO and the development route.”

“These projects represent strategic opportunities to stimulate economic growth and attract investments, and also contribute to improving infrastructure and making Iraq an important center for maritime and land trade in the region,” he said.

Saleh pointed out that development funds can direct part of their investments to:

1. Infrastructure supporting the private sector: through the financing of road, railways, ports and airports projects, which contribute to improving the business environment and facilitating transport and shipping operations.

2- Financing small and medium enterprises: Encouraging the growth of these enterprises through financial facilities such as soft loans or providing guarantees, which contributes to creating job opportunities and improving the local economy.

3- Investing in technology and innovation: Supporting the development of technical capabilities of the private sector by financing research and development and motivating companies to adopt new technologies that improve productivity and efficiency.

4- Developing the logistics sector: Providing financial support for logistics projects that contribute to supporting the FAW port and linking Iraq to regional and international markets.

5- Stimulating the industrial sector: Allocating funding for the development of national industries, especially those related to energy, manufacturing industries, and petrochemicals, to expand the base of local production and enhance its competitiveness in global markets, noting the importance of the industrial cities and the five economic zones proposed to establish them on the path of development path and their role in this regard.

The Prime Minister’s adviser stressed that “thanks to these initiatives, Iraq will be able to revitalize the private sector and make it a key partner in economic development and make the most of its strategic geographical location.”

Ragheed

https://alforatnews.iq/news/مستشار-حكومي-يحدد-4-اتجاهات-لتنشيط-القطاع-الخاص-في-العراق