Intl Federation of Business in Iraq calls for special minist

[Stillw8n]

Intl Federation of Business in Iraq calls for special ministry to monitor private sector as it enters market economy

The head of «International Federation of Business in Iraq», Hamid punitive, to walk to the private sector gradually to enter the market economy with new mechanisms, demanding the existence of a special ministry takes care of the sector and help to contribute to higher rates of economic growth «through reforms stems from the urgent needs and not through prescriptions ».

He told «life» that «the International Union for the business in Iraq, submitted proposals to the concerned authorities calls for the acceleration in the adoption of the establishment of the Ministry competent affairs of the private sector from the reality of approach of Current in adopting a policy of free economy and a multiparty system, the economic and absorb economic and social changes and political developments in Iraq and outside ».
He added: «We can not ignore these variables in a role that can be played by the private sector in the development process», pointing out that Iraq was before the economic situation accurately requires the participation of economic sectors are in the process of switching current, and that the successes that can be achieved by the Iraqi economy depends on the the degree to expedite the implementation of reform programs, especially in the modernization of systems and economic legislation, financial, tax and improving the investment climate to raise the efficiency of the private sector.

He stressed the punitive to the Iraqi market is currently witnessing open and broad in terms of strengthening cooperation with the private sector and the development of its contributions in raising the performance of the economy, adding to the fear of many that the process of economic reform or go to the free economy gain to the private sector, but to explain «that this is far from Indeed, because this gain is an important achievement in the process of economic development ».

He stressed that international experience has shown that the problems experienced by the economies of the world has not solved the transfer of ownership to the private sector, but finding an optimal mix of cooperation between the public and private sectors, and said: «not achieve this as soon as the issuance of investment laws encouraging, but must be accompanied by policy of economic financial and monetary dimensions take into account the requirements of the Iraqi reality and the government to adjust the rates of inflation and the development of the organization to channel domestic savings rate and promote opportunities for productive investment ».

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