Iraq has the potential to go to a market economy

11/05/2013 12:00 AM

Baghdad - شكران the Fatlawi

The Chairman of the Securities Commission to the importance of family businesses turned into joint-stock companies and create a larger entity able to compete and diversify the productive base and conduct strategic alliances and achieve competitive advantage of economies of scale and thus reduce costs.

He said Abdul Razak Dawood al-Saadi "morning" there is potential available to this sector on her head, the trend towards a market economy, pointing to the existence of incentives for investors, including tax breaks and legislation that will stimulate the private sector, not to mention the expertise and competencies that can promote this sector to extend the market in large quantities of products and absorb a great deal of savings national and the elimination of unemployment and its contribution to next of foreign trade, adding that the private sector has a key role in the development process in the development of the economies of countries, referring to the need to transform the family business to contribute to increase the effectiveness of support economic activity in the country.

He stressed the need for the development of family leadership skills and attract professional competencies with the importance of an internal control system based on the separation of responsibilities and clarity of plans and attention to transparency and finding every legal frameworks so as to enhance the ability to face difficulties and emergency economic crises.

He said Saadi said the positives convert family businesses to contribute to emerge from the sustainable development of the country and expand the economic base and depolarized human competencies and creating new job opportunities, in addition to its importance in the development process through the mobilization of private sector resources by small investors and savers, as noted to their contribution to the activation of the stock market through a process of indirect investment and that counted most important tools of the market economy.

He noted the need to overcome the difficulties that stand as a stone block to convert a family of companies to contribute, pointing to attract foreign investment and afford administrative expertise and technical knowledge and sophisticated technology.

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iraq might have the potential but they lack the brains andthey donot trust each other and until that is resolved we wait wait wait