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International official: The weakness of the private sector in the Middle East is the result of inefficiency of the public sector DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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International official: The weakness of the private sector in the Middle East is the result of inefficiency of the public sector

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International official: The weakness of the private sector in the Middle East is the result of inefficiency of the public sector Empty International official: The weakness of the private sector in the Middle East is the result of inefficiency of the public sector

Post by claud39 on Thu Mar 07, 2019 7:52 am

A good example that iraq has to do, remove the name Jordan, and replace that with iraq, you see the image they have to make right now, and passing iraq is part of the union of arab banks , and as usual I'm not a guru, just a news reader who does not follow the gurus, but who follows the news of the day, good day to all!



Claud   (Moose)




http://www.uabonline.org/en/news/arabicnews/16051587157216081604158316081604161015901593160115/61353/0


International official: The weakness of the private sector in the Middle East is the result of inefficiency of the public sector




07/03/2019





International official: The weakness of the private sector in the Middle East is the result of inefficiency of the public sector Rc_155194426546_23



The Middle East and North Africa Regional Director of the International Finance Corporation (IFC), Dr Sufian Al-Issa, attributed the weakness of the vital private sector in the Middle East to the inefficiency of the public sector.
This weakness was also attributed to the limited financial space of private sector companies, the low participation of the private sector in infrastructure projects, as well as the many challenges that limit the competitiveness of the private sector in Jordan and the region. This came during a panel discussion held by the Forum for Strategies, Jordan, organized by the Forum recently, with the participation and attendance of members of the Forum, entitled «Towards a new model of financing for development in the Middle East and North Africa». Al-Issa said there are economic and social challenges facing the region, including modest economic growth rates, the decline of the middle class and the decline in foreign direct investment, which is still below the pre-2008 levels, in addition to rising oil prices.
He stressed the need to face these challenges in the wise management of public finance through the involvement of the private sector in the implementation of major public projects and maximize the contribution of the private sector in the development process, and allocate resources to exploit the potential opportunities. Al-Issa also stressed the need to focus on human capital and encourage young people to put forward innovative and creative ideas and motivate them to lead and innovate to establish their companies that will benefit them and drive development. He pointed to the role of the main banks in communicating with the entrepreneurs and facilitating their access to finance. Central banks encourage banks to lend more. 
Steps should be taken to empower and assist SMEs to grow and expand their business to increase new market jobs and support economic growth, he said.
And the need to work seriously and fast on the issue of partnership between the public and private sectors, to stimulate the ability of the economy to generate new jobs and opportunities due to the social and economic changes that will be witnessed in the region and the world because of the rapid technological development and increase the youth in the world and the region. 
He pointed out that the data on the region indicate that the contribution of the private sector in the Middle East and North Africa to infrastructure projects is the lowest in the world, which represents an opportunity to expand this type of projects.
For his part, the Executive Director of the Forum, Dr. Ibrahim Saif, the need for a new Jordanian economic speech that mimics the requirements of the age and responds flexibly, and plays an important role in providing the market with qualified cadres, and reduce unemployment rates and support women economically. He stressed the need to take serious and practical measures to ensure the revival of the financial market in Jordan and attracting foreign direct investment, especially since many procedures do not require large costs. 
The participants discussed various financing methods to support development and economic advancement, the role of the private sector in partnership projects with the public sector, and the challenges facing the banking and financial sector in Jordan and the region.
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