A deputy talks about the reasons for not attracting Arab and foreign capital: Iraq has become a “repulsive environment”

A deputy talks about the reasons for not attracting Arab and foreign capital: Iraq has become a “repulsive environment”

05/28 2020 11:00

A deputy talks about the reasons for not attracting Arab and foreign capital - Iraq has become a repulsive environmentBaghdad today – Baghdad

Member of the Economy and Investment Committee in the House of Representatives, Nada Shaker Jawdat, on Thursday (28 May 2020), spoke about the reasons for not attracting capital to Iraq, while she asked the Presidency of the House of Representatives to present the law of partnership between the state and the private sector to vote in Parliament.

Jawdat said in an interview with (Baghdad Today), “The availability of infrastructure in the country and the establishment of security contributes to attracting Arab and foreign capital, but unfortunately in light of the current situation, Iraq has become a repelling environment.”

She added, “Nearly 80% of the country’s facilities are still suspended since 2003 until now, and what we need are administrative and financial mindsets that lead the economic file.”

She stressed “the necessity of adopting the law of partnership between the state and the private sector, which contributes to revitalizing the economic reality in the country.”

The country is going through an economic crisis, due to the effects of the Corona virus on the one hand and the drop in oil prices on the other, in addition to the cessation of many economic activities in the country due to the Corona pandemic, which cast a shadow on economic and investment projects.

The government of the Prime Minister, Mustafa Al-Kazemi, seeks to improve the economic reality, one time I went to the Gulf countries to request financial aid to face the economic crisis, and provide employees ’salaries, and other, will go to reducing employee salaries in order to meet the economic need, according to what the Finance Minister confirmed Ali Allawi.

The lawmakers ’calls for the necessity of operating and contracting the private sector come in an attempt to revitalize the economic reality in the country.

The first deputy speaker of the House of Representatives, Hassan Karim Al-Kaabi, had expected, on Sunday (10 May 2020), the dismissal of a large number of workers in the private sector due to the economic crisis.

Al-Kaabi said, in a press statement, that “there are many economic, security and health challenges facing the new government, which is represented by the global economic crisis, low oil prices and the security challenge in pursuing and eliminating ISIS terrorist gangs .”

He continued: “In addition to the health challenge posed by the Corona pandemic and its repercussions, dealing with and dealing with other files such as balance, keeping Iraq away from international and regional conflicts and implementing the demands of the demonstrators .”

He added, “The presence of the government in the current stage is very important in light of the great challenges facing the country,” noting that the government program for the prime minister, although it is brief, is compatible with the next stage .

He pointed out that “the Iraqi state faces important detours and details that need to be reviewed and capacity-building and capabilities that are appropriate to the size of these challenges, especially with regard to the economic side and activating the investment side and encouraging the private sector and its participation in development because it reflects on the Iraqi economy and its advancement to a higher level, in addition to participation In development plans by different sectors. ”

And that “the current economic crisis will cast a shadow over many important sectors that will cause the dismissal of a large number of workers in the private sector.”

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