BAGHDAD - INA
The Financial Advisor to the Prime Minister, Mudher Mohammad Saleh, emphasized on Thursday the importance of activating the Market Development Council to support the modern economy in Iraq, while stressing the need to agriculturally invest in five million donums of land affected by desertification.
Saleh told the Iraqi News Agency (INA): "The government program aims for institutional reform, defining institutions by their mechanisms and performance, as Iraq suffers from a proliferation of weak institutions." He noted that rebuilding Iraqi institutions is a critical matter, as "the vast size [of government] without oversight has drained the Iraqi state."
He added that "government institutions have become bloated and oversized, posing a burden on the national economy, to the extent that market institutions are now being choked by the heavy state institutions."
He pointed out that "economic reform begins with reforming outdated institutions and their laws, and easing procedures," explaining that "many administrative complexities have been inherited and lack a legal basis."
He continued, saying that "young leaders are crucial in the economic reform process because they possess a mindset focused on development, openness, and change."
Regarding the construction of a diversified national economy, he explained that "coexisting with a rentier, oil-based economy and relying entirely on the budget is one of the core problems," calling for a shift toward "all available non-oil resources."
He noted that "Iraq possesses unexploited natural resources, and the private sector has not been allowed to form alliances and invest in them," pointing out that "our mission today is to facilitate alliances between the national and international private sectors—using the latest technologies—alongside the government's role in re-attracting all of Iraq's resources."
He explained that "the agricultural sector represents the primary launching pad through the 'Agricultural Sovereignty' project and agricultural licenses," noting that "Iraq possesses five million donums of land affected by desertification, on which a joint public-private holding company could be established in cooperation with international companies, similar to agricultural licensing rounds."
He continued, stating that "this step will lead to a green revolution starting with four or five million donums, ensuring Iraqi food security."
He further stated that "the digital economy represents a vital pillar in the reform process, through the creation of a robust institutional entity overseeing the digital cloud, cybersecurity, and the adoption of modern technology."
He concluded by noting that "the Market Development Council represents the link between the state and the private sector," emphasizing "the importance of redefining and activating the council to support the birth of a modern economy in Iraq."
