The strategic partnership between the government and the private sector is the cornerstone of Iraq's 2030 vision

Banking Advisor Samir Al - Nusairi


Last week, the Ministry of Planning announced the launch of the National Vision for Sustainable Development of Iraq 2030 with a broad presence of vision stakeholders, ministries, the private sector, academics, experts and consultants specialized in development, investment, reconstruction and community building with the active participation of the United Nations Development Program. Poverty Reduction Based on the data contained in the government curriculum of Dr. Adel Abdul Mahdi's cabin for the years (2018-2022) and what actually contributes to achieving sustainable development Below we define our vision of the institutional and structural partnership between the government and the private sector as follows:

 

All indications are that the new government plans to start the transition from the rentier to productive economy during its current cycle, in line with the National Development Plan for the years (2018-2022), diversify resources, and reduce the dependence on oil as a major source of revenue.

In order to achieve this, there must be a clear role and a decree program to involve the private sector in the management of the economy and economic and developmental decision-making. This comes through the reconstruction of the institutional and legal structure of the private sector in the legislative, incentive and procedural aspects in a manner consistent with the themes of the government program and the stages of implementing the strategy of development.


The private sector for the years (2014-2030) launched by the government in February 2015 and Iraq Vision 2030 to start these programs immediately to establish mechanisms to involve the national private sector in economic decision-making, especially the development of the banking sector To attract and build its solid and solid structure and restore confidence to deal with it and attract the cash mass hoarding outside the banking system, which constitutes up to 77% of the currency in circulation according to a comprehensive view to stimulate all productive sectors, mainly in agriculture, industry and construction (housing and construction), energy, services and tourism, and to adopt The government and private sector representations are programs, contributions and operational measures calculated and supported physically and legally, and that the years (2019-2030) actually years of support, activation and development of the sector.

In order to achieve this, the government must first establish the Private Sector Development Council, which is currently undergoing a concerted effort led by the Ministry of Planning and Follow-up seriously from the Minister and the Ministry's cadres in conjunction with all representatives of the private sector. The Council is composed of representatives of the private sector and the government equally. The Council is to be represented in the opinion bodies of the ministries related to sustainable development and to be its chairman. He is also an active member and attends all cabinet meetings to express his opinion on private sector discussions.He also represents the private sector in the follow-up committees of implementation and the specialized committees in the Council of Ministers, and gives a key role to the private banking sector as the first responsible for financing and lending to small and medium enterprises and housing and reconstruction projects.

Therefore, I believe that the stage and the experience experienced by Iraq economically since 2003 need to pause analytical and evaluation and review in order to build its national economy according to a new strategic view to transition to a market economy in accordance with the vision of Iraq 2030 and based on a program prepared by the government and approved by the Iraqi Council of Representatives include several key axes, most notably The axes that clarify the role of the private sector and the role of banks in development, which emphasizes the need to apply important stages towards building a strategy for the development of the economy and support and development of the private sector to take its role in contributing to the new construction of the economy and diversify its resources for the budget Wen rely largely on the oil.

For the purpose of discussing and studying the economic reality that Iraq is going through it is necessary to stand by logical, scientific and economic analysis on the most important tasks that require the development of the private sector and this means to involve the private sector a greater role in economic decision-making and market leadership through the following:





1. Contribute to improving the business environment in Iraq and provide an encouraging investment climate to attract national and foreign capital and encourage the achievement of public-private partnerships.

2. Contributing to the creation of a new legislative environment based on Article 25 of the Permanent Constitution and the strategies and laws pertaining to economic reform and the development of the private sector to ensure its activation and market leadership in the future.

3. Maintaining and activating the partnership, dialogue and cooperation between the private sector and the government through activating the partnership law between the private sector and the public sector, which has not been implemented for several years.

4. Contribute to the development of policies, mechanisms and strategies and participate in the follow-up of their implementation to resolve the transition to the stages of time-programmed to the market economy.

5 - Working to provide additional sources of funding for the state budget by adopting the development and diversification of resources towards increasing the proportion of resources other than oil in the GDP.

6- Encouraging the establishment and development of micro, small and medium enterprises in order to achieve comprehensive and sustainable development, including the formation of specialized institutions. Bank financing shall contribute more broadly to the financing of development projects.




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