Representative: Investment key to Iraq creating 500,000 jobs

[Stillw8n]

Representative: Investment key to Iraq creating 500,000 jobs annually

NAJAF, Feb. 7 (AKnews) – A National Alliance Representative has called for Iraq to create 500,000 jobs annually by activating the country’s investment sector.

Mohammed al-Hendawi quoted the International Monetary Fund when he said that Iraq should create the job opportunities each year. The country currently fails to hit this target.

“The solution to unemployment is to activate the investment sector through removing the obstacles, creating laws that support private sector investment and facilitating the procedures to invest so that the private sector can recruit the resources that the state agencies fail to exploit,” he said.

Hendawi criticized the 2012 budget bill of $100bn (117tr IQD), saying it is insufficient for the investment sector.

Iraq’s unemployment rate is approximately 15 percent of the total labor force, according to estimates.

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