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 emphasized the crucial role of the government in ensuring the supply of Western technology to the private sector, particularly in industries such as agriculture, digital technology, and manufacturing. He further added that this partnership entails the government providing financial guarantees, thereby guaranteeing a steady flow of advanced technology to the country.
He emphasized the need for passing the economic reform law, which will create a new model for investing in strategic economic activities, expand investments, and improve infrastructure.