THE PRESIDENT OF THE REPUBLIC AFFIRMS THE IMPORTANCE OF SUPPORTING THE PRIVATE SECTOR AS A KEY PARTNER IN ECONOMIC DEVELOPMENT
President Nizar Amidi emphasized the importance of supporting the private sector and enabling it to play its vital role as a key partner in economic development.
The Presidential Media Office stated in a press release: “President Nizar Amidi received today, Wednesday, Abdullah al-Jubouri, Vice Chairman of the Permanent Council for Private Sector Development.”
During the meeting, al-Jubouri provided a detailed explanation of the Council’s work, its responsibilities, and the economic vision it seeks to achieve, in accordance with developmental paths aligned with the state’s development plans, contributing to supporting the national economy and strengthening the private sector’s role in the development process.
The President stressed the importance of supporting the private sector and enabling it to fulfill its vital role as a key partner in economic development, emphasizing the need to create a suitable investment environment and remove obstacles facing businesspeople and investors, thereby contributing to achieving sustainable development, diversifying income sources, and reducing reliance on traditional resources.
He also pointed to the importance of strengthening the partnership between the public and private sectors and supporting economic initiatives that contribute to creating job opportunities and stimulating productive activity, in line with the priorities of economic reform and achieving comprehensive development.
For his part, Al-Jubouri expressed his appreciation for the President’s interest in the private sector, affirming the Council’s continued work on presenting initiatives and proposals that would support economic activity and strengthen the partnership between the public and private sectors, serving the national interest and enhancing economic stability in the country.
(Mnt Goat: Okay so why is it really so important to implement the private sector. WE have remember that the goal for Iraq is to move away from a socialize system where everything was owned by the state and paid by the state. This take time and is not as easy as most think. So, lets’ get rid of all these fancy words as in the article and get down to the basics:
1.The PRIVATE SECTOR can slowly take the burden and pressure off the GOI OF having to pay billions each month in salaries, retirements, etc. As the companies come into Iraq and create employment, they can move these commitments to the private companies. These same companies can also create pension funds to support retirements.
2. The PRIVATE SECTOR can help in the long standing goal of diversification of the country in that these private sector companies can come into Iraq and help develop Iraq’s natural resources like silica and other limited metals needed for industry.
3. The PRIVATE SECTOR can enable sustainability in that when chaos breaks out within the oil market, Iraq is no longer held hostage to the oil prices to service its citizens or marketplace.
4. The PRIVATE SECTOR as time moves on can deliver electricity, water, garbage pickup, etc. and other essential services that are normally by a private sector for a fee, fees paid by the citizens individually for the service. Again this takes yet another set of financial burdens off the GOI. )
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