Iraq has the potential to transition to a market economy, says Iraq Securities Chairman

Iraq has the potential to transition to a market economy, says Iraq Securities Chairman


The Chairman of the Securities Commission to the importance of turning the family business into joint-stock companies and the creation of an entity larger able to compete and diversify the productive base and make alliances strategy and achieve competitive advantage of economy of scale and thus reduce costs.

Global economic financial linkagesaid Abdul Razak Dawood al-Saadi’s “morning” there is potential available to this sector on her head, the trend towards a market economy, pointing to the existence of incentives for investors, including tax breaks and legislation that will stimulate the private sector, not to mention the expertise and competencies that can promote this sector to extend the market with large quantities of Products and absorb a great deal of national savings and the elimination of unemployment and its contribution to next of foreign trade, adding that the private sector has a key role in the development process and in the development of the economies of the countries, pointing to the need to convert to the contribution of family businesses to increase their effectiveness in support of economic activity in the country .

and stressed the need to develop the skills of leaders, family and attract professional competencies with the importance of developing a regulatory system internal depends on the separation of responsibilities and clarity of plans and attention to transparency and create legal frameworks of each in order to enhance the ability to face the difficulties and crises of economic emergency.

continued Saadi said the positives transfer of family businesses to contribute to appear through the sustainable development of the country and expand the economic base and depolarized human competencies and creating new job opportunities, in addition to its importance in the development process through the mobilization of private sector resources by small investors and savers, also praised the contribution to the activation the stock market through a process of indirect investment and that counted most important tools of the market economy.

He noted the need to overcome the difficulties that stand as a stone block to convert a family of companies to contribute, pointing to attract foreign investment and afford administrative expertise and technical knowledge and sophisticated technology.