Tawazine News – Baghdad
The financial adviser to the Prime Minister, Mazhar Mohamed Saleh, confirmed on Monday that the government has developed an economic approach to promote growth and reduce unemployment, while noting that the new industrial cities will be the cornerstone of the economic renaissance.
Saleh said, in a statement to the official agency, that “the Sudanese government has developed a clear economic approach to strengthen the national economy, which is to raise growth rates in non-oil GDP by at least 5%, in addition to gradually reducing unemployment rates to settle at 4% in the future.”
He explained that “achieving these two goals requires focusing on the priorities of economic development, most notably supporting manufacturing, which can absorb 60% of unemployment, contribute to diversifying sources of national income and increasing GDP rapidly.”
He pointed out that
“the government is working to achieve this through three main tracks, including supporting youth lending initiatives, which included many youth gatherings to stimulate the workforce, and the establishment of “Riyada Bank”, as a private bank with broad government support to grant loans to small and medium-sized industrial activity, as well as the formation of a sovereign guarantee committee, to finance large industries through bank loans guaranteed by the state, in cooperation with major industrial countries such as Western Europe and Japan.”
He stressed that “these efforts will focus on the development of five main industrial fields, including infrastructure industries associated with the “development road” and reconstruction projects, pharmaceutical industries, in addition to the petrochemical industries and oil derivatives,
and advanced engineering industries, in addition to the development of the oil sector and the manufacture of natural and associated gas, with the aim of zeroing its burning and benefiting from it in the electric energy sector.”
He added that “new industrial cities on the road to development will be the cornerstone of the comprehensive industrial development strategy in Iraq,” pointing out that “the industrial renaissance is based on a strategic vision based on the partnership between the state and the private sector, within the philosophy of building the social market.”