PM: Development cannot happen without reforming the banking sectors

BAGHDAD, January 10 – Prime Minister Mohammed Shiaa Al-Sudani inaugurated the 47th edition of the Baghdad International Fair on Wednesday evening. The event marks a significant gathering of approximately 20 foreign and Arab countries, with 840 participating companies, both local and international. Among these, Iraq is represented by 226 companies from various sectors including private, governmental, and mixed.

During the opening ceremony, Prime Minister Al-Sudani highlighted the day’s earlier event of laying the foundation for a bridge over the Tigris River, underscoring the ongoing development efforts in Iraq.

The Prime Minister reaffirmed the government’s commitment to economic reforms: “Since its inception, the government has embraced economic reforms.” He added that the Baghdad International Fair is a testament to Iraq’s relations with friendly nations and stressed the importance of reforming the banking and financial sectors for development. “Development cannot happen without reforming the banking and financial sectors,” he stated.

Al-Sudani also mentioned the government’s implementation of a package of measures contributing to tax reforms and acknowledged the Ministry of Commerce’s efforts in registering companies: “We closely monitor the vigorous measures of the Ministry of Commerce in registering companies.”