On Sunday, Mazhar Muhammad Saleh, the financial advisor to the Prime Minister, announced the importance of legislating the economic reform law to facilitate partnership between the state and the private sector.
Saleh stated in an interview with the official agency that the government aims to develop the country’s economic system by establishing a strong partnership between the state and the private sector. The ultimate goal of this partnership is to diversify the economy and gradually reduce the state’s reliance on oil revenues to fund economic activities.
During a recent conversation, he elaborated on the various ways in which the private sector can collaborate with the government. These include partnerships for financing, issuance of carbon bonds and reconstruction bonds to raise funds from financial markets. He emphasized the role of the Iraq Fund for Development in supporting the private sector by providing financing for its investments at different levels.
Saleh stressed the need for the state to ensure that businesses have access to Western technology in several sectors, including as digital technology, agriculture, and manufacturing. To elaborate, he said that the government is offering financial assurances to assure a steady flow of state-of-the-art technology into the country.
A new approach to financing critical economic activity, more investments, and better infrastructure should be the goals of economic reforms, he emphasized.
