A strategy of cooperation between the government and the private sector to achieve economic reform

by **claud39** Wed Nov 11, 2020 11:33 am

A strategy of cooperation between the government and the private sector to achieve economic reform

11/11/2020

A strategy of cooperation between the government and the private sector to achieve economic reform 24196

Samir Al-Nusiri *

In its presentation of the economic reform strategy, the white paper indicated the role through which the private sector should contribute to managing the economy in cooperation with the government, and this requires providing the legislative environment and a stable business environment and focusing on the axes
that aim to build sound preconceptions for the transition to a completed economic reform.

The establishment of the government and the private sector in all its banking, industrial, agricultural and service fields requires participation and cooperation in implementing the interim, medium and long-term economic reform strategy.

This means engaging the private sector with a greater role in economic decision-making and market leadership through the following:

1- Contributing to improving the business environment in Iraq, providing an encouraging investment climate to attract national and foreign capital and encouraging the achievement of partnerships between the public and private sectors.

2- Contributing to the creation of a new legislative environment based on its reference to Article 25 of the permanent constitution, strategies and laws for economic reform and the development of the private sector to ensure its activation and leadership of the market in the future.

3- Maintaining and activating the partnership, dialogue and cooperation between the private sector and the government.

4- Contributing to setting policies, mechanisms and strategies, and participating in following up their implementation to resolve the transition to time-programmed stages to a market economy.

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

6- Work to encourage the establishment and development of micro, small and medium enterprises in order to achieve comprehensive and sustainable development, including the formation of specialized institutions for this purpose.

7- Cooperation in ensuring the implementation of the central plans in providing the infrastructure to encourage and develop the private sector in industry, trade, agriculture, tourism, mineral resources, energy and services.

8- Activating the role of specialized banks and private banks to provide soft loans to the national private sector, as well as finding solutions to the problems of taxes and accumulated benefits that accrued to owners of projects with stalled production and setting a short and medium-term financial policy.

9- Coordination and cooperation with the concerned ministries and financial and statistical institutions in building a financial and statistical information base and ensuring its transparency.

* An economic and banking advisor

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