Commerce: Implementing a package of qualitative initiatives to boost the national economy.
The Ministry of Trade announced, on Friday, the implementation of a package of qualitative initiatives to advance the national economy and stimulate sustainable growth.
Ministry spokesman Mohammed Hanoun said, "The Ministry, in coordination with the Private Sector Development Council, has prioritized creating a stable and investment-friendly economic environment by addressing challenges and facilitating procedures for investors and entrepreneurs in line with the requirements of the national economy."
He added, "Based on the Iraqi government's directives to support the business environment and enhance partnerships between the public and private sectors, the Ministry of Trade, through the Private Sector Development Council and the Private Sector Development Department, continues to implement a package of qualitative initiatives and effective measures aimed at advancing the national economy and stimulating sustainable growth."
He explained that "the measures taken include strengthening channels of joint dialogue between representatives of the public and private sectors to develop practical solutions to the challenges facing the business environment, reviewing and updating commercial and regulatory legislation with the aim of simplifying procedures and stimulating local and foreign investment, in addition to launching programs to support small and medium enterprises and providing financing and training packages to support entrepreneurs."
Hanoun pointed to the possibility of supporting digital transformation and developing electronic services to facilitate commercial and investment transactions and enhance the principles of transparency and economic governance by publishing periodic reports on economic performance indicators and the business environment, creating an appropriate investment, legal, and financial climate for major partnerships, and encouraging quality investments in vital sectors. He also stressed the importance of working hard to improve Iraq's ranking in international business environment indicators by implementing global best practices in facilitating the establishment of companies and protecting investors.
Hanoun affirmed that "the Ministry of Trade is committed to supporting the private sector and empowering it to be a key partner in building a diversified and sustainable economy and achieving comprehensive economic development that positively impacts citizens' lives." He called for continued cooperation and integration between all state institutions and the private sector to create a competitive economic environment that contributes to stimulating growth and providing job opportunities. link
