Small business support
Al-Sudani affirms new approach to support private sector
BAGHDAD — Prime Minister Mohammed Shia al-Sudani announced Saturday a new initiative to bolster the private sector and small businesses through innovative revitalization efforts. The declaration was made during a gathering with business leaders, investors, and proprietors of medium-sized enterprises.
Prime Minister Mohammed S. Al-Sudani met with a group of investors and businessmen overseeing medium-sized projects. The discussions focused on reviewing key ongoing projects, addressing obstacles and challenges faced by employers, and exploring solutions.
During the meeting, Mr. Al-Sudani pointed out the government’s tendency towards supporting the private sector and supporting small companies, pointing to revitalization measures taken for the first time, including the sovereign guarantees provided by the government for projects implemented by the private sector.
His Excellency stated that these steps come from the government’s vision of the work of the state, which cannot be managed only through government institutions and the public sector, relying on the budget and oil prices, and on government jobs. Rather, there must be a societal understanding of the private sector, and experience and development of small projects. .
Mr. Al-Sudani touched on the challenges facing economic and financial reform in several files, as the implementation of the electronic payment system faces many obstacles, and there are also attempts to circumvent tax reform, company registration and customs procedures, and all of them are being addressed, stressing that the government is also continuing its measures to reform the banking sector. .
His Excellency also spoke about contracts for new residential city projects, explaining that they aim to solve the housing crisis and revitalize industry at the same time, as the construction sector serves this trend, which increases the local production capacity in these industries.