Jumaili: Iraq plans to launch projects in the field of infrastructure in partnership with the private sector

Jumaili: Iraq plans to launch projects in the field of infrastructure in partnership with the private sector


 
18/09/2018

Economy News _ Baghdad

Iraq plans to launch infrastructure projects worth about $ 5 billion in the form of important investment opportunities in partnership with the local and foreign private sectors, Planning Minister Salman Jumaili said on Tuesday.

"Iraq, in line with the National Development Plan 2018-2022, is planning to launch priority projects in the field of infrastructure development," Jumaili said at the opening ceremony of the Sixth International Conference on Infrastructure Cooperation, which began in the Korean capital Seoul on Tuesday. And the development of a successful model of public-private partnerships in the region with an investment of about US $ 10 billion for the next five years will be concentrated in the generation sector projects Aqh, water and sanitation, renewable energy, transportation, infrastructure, urban solid waste and urban development and the green economy and development. "

The government implements the development and modernization programs, which include comprehensive reform tracks to maintain macroeconomic, financial and monetary stability and in coordination with the International Monetary Fund, and the development and implementation of the Iraqi economic growth stimulus program, which is based on the National Development Plan, which includes the most important structural reforms, Outcomes of human resources development projects, employment and infrastructure (water, energy, transport, etc.), combating poverty, social protection, digital transformation, e-government, judicial reform, strengthening the rule of law, C capital spending, which will expand its implementation through the frameworks of partnership between the public and private sectors. "

"Governments and companies must move forward without delay to take the necessary measures to achieve the goals of sustainable development 2030, build partnerships to benefit from the lessons and experiences of each country, and the importance of continuing to support the international community to reduce unemployment, empower youth and achieve an integrated development approach. In order to achieve economic diversification ".

He noted that "the improvement in the macroeconomic outlook in Iraq is due to the improvement in the security situation, the increase in oil prices, the gradual recovery of reconstruction-oriented investments and the liberation of the entire Iraqi territory from the clutches of an encouraging organization in December 2017. The Government of Iraq began to prepare and implement a comprehensive package Of the reconstruction activities quickly linked stability with a long-term vision, and high oil prices and improved security conditions in 2017 contributed to economic stability and non-oil growth. "

"The poverty rate rises from 19.8% in 2012 to an estimated 22.5% in 2014. The poverty rate is almost double in the worst-hit provinces than the rest of the country (21.6% vs. 11.2%)." He pointed out that the housing sector Is the most affected sectors, where more than 150 thousand housing units to damage the total or total estimated value of the requirements of the reconstruction of more than 15 billion US dollars, in this context estimated the needs of Iraq to rebuild the affected provinces more than 88 billion US dollars.

Al-Jumaili expressed "the desire of the Iraqi government that the Korean companies have an active and clear role in the reconstruction and development of Iraq," noting that "Iraq has made progress by reducing the large number of guarantees and improve the level of management and give the Iraqi government priority in investment spending for reconstruction activities In the liberated areas of an encouraging organization, and to increase electricity production. "

, Adding that Iraq provides in the field of facilitating business and investment incentives to investors in the development and industrial areas in all regions of Iraq to enter the largest markets in the world and the region, especially through the incentives of the law to encourage investment and free trade agreements with several blocs and countries of the world, including improving the order of Iraq in international reports in The field of business, competitiveness and transparency. Iraq is taking further steps to improve its ranking in these reports. The traditional method of identifying projects has been adopted to adopt the method of partnerships by emphasizing the role of the private sector. As an essential partner in the development process and an engine for economic growth. "

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