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Investment and privatization of the Iraqi economy is recovering

Dr. Ihsan Ibrahim Attar

Iraqi economy in these difficult nowadays in the unenviable position and suffers from the accumulation of circumstances and events of abnormal passed it through decades of its modern history represented by a series of senseless wars, coups and political changes and loss of stability that drained the country, which was adopted as a result of financial mismanagement of the ruling authority in resources omnidirectional the extracted oil sales. When prices collapsed in the global market of the Iraqi economy was the victim of a severe crisis requires solved and out of a minimum of losses.

It is to be addressed is the tendency sincere vigor of the remaining loyal sons and daughters of this country and work on the first two axes is the domestic and foreign investment solutions The second axis supplementing his Vho_khas_khash institutions and public facilities and laboratories lagging and loss-making state-owned.

Investment needs to be legislation regulating its work mechanism. And that the trend towards local and foreign investments in place in most countries of the world policy of prosperity, such as, America, Japan, South Korea and some Arab countries, European countries such as Egypt and Jordan, and that there are approximately two hundred international consulting firm dedicated to promoting global investment and methods of preparation of feasibility and ways and sources of funding and implementation of projects studies.

We have the Investment Law No. 13 of 2006 and we have amended the investment law in crude oil filter No. 64 for the year 2007 average. But laws and regulations not enough for the advancement of the process of investment in any country of the world, but more importantly, is to create an investor-friendly local and foreign alike investment environment. Our problem on the land of Iraq – except for the Kurdistan region – that the work environment repellent to invest in it and that the mentality of the citizen saturated sediments recent past and look to foreign investment as a companion to colonialism and foreign investor, but what we must expel him colonized with all our strength. This unfortunately indicates to him the reality of the situation and this is felt by investors of harassment and extortion when their review of various state departments or Massadvthm tribes in central and southern Iraq when the project sites in housing this tribal areas .otkon result time investors, especially foreign ones fell and their reluctance to go to set up projects and investment of billions of their money in our country. These are the biggest problem currently facing the process Alastosmaroualemsttmaren.

Therefore, one of the first success of the investment requirements Hokhlq girlfriend him through the public awareness of the benefits of the investment environment and make a quantum leap in the banking, tax and customs systems and the provision of facilities processing power and save fuel in addition to the allocation of land easily and to facilitate the establishment of enterprises shall be without harassment.

Privatization is not new to Iraq, but starting in 1987, the days of the former regime, signs of first privatization process included some laboratories and farms that were sold at the time to the agents and associates, which has faced a wave of criticism later, where it was believed the privatization of many that it is only a means to sell the properties of the people close to the local or foreign investor.

Therefore, the effective privatization need in addition to the necessary legislation that the political leadership of the wise and the desire of popularity to overcome the problems are available because the problem is now summed up in the scale of the destruction and devastation of the long these plants and installations due to looting, arson and destruction (known as the phenomenon of the senses notorious) where we had ( 192) laboratory and the company public, mostly the Ministry of Industry companies and institutions mic built with public money for the Iraqi people, which was produced before the change of regime in April 2003 and had a population of employees up to (635) A member of caring for a total of (3.5) three and a half million inhabitants of census of the Iraqi people at the time. These laboratories and installations are now either fully disabled or semi-unemployed represent an absolute loss and an additional burden on the battered Iraqi economy by the current crisis.

The most important reasons for the privatization of at the present time is limited, including the following:

  • ensure that the interests of workers in the laboratories and facilities idle or semi-idle under unilateral economy side represented imports of oil that are no longer able to meet the needs of the annual state budget.
  • the inability of the current Iraqi economy exhausted and weak economic performance of the leaders of the political process in the country to support these plants and facilities losers that are no longer capable of real competition in the current economic conditions and the provision of salaries for their workers.
  • the global trend towards the private sector after most of the world went to the market economy, which relies on the private sector (clean and non-corrupt). Also, the competent international organizations such as the WTO, World Bank and the International Monetary Fund all support privatization and calls for it.

Gradual transition is the best means and the most secure and comes through programmed and deliberate steps with the help of those who remain of experienced and competent people of this country by following the following steps:

  • establishing department or executive body for privatization linked to the highest authority in the country (Council of Ministers, for example) and Stockade required legislation guided by the laws of successful privatization in some Arab countries, including
    the Arab Republic of Egypt and the Hashemite Kingdom of Jordan (Law No. 25 of 2000)
  • go first to the privatization of the production companies that rely materials Initial available locally, such as cement and construction industries, sulfur, phosphates and petrochemicals that have the possibility of protection from foreign competition. Through posts strategy with foreign companies sober have the technical and financial capabilities that enable them to rehabilitate factories idle semi-unemployed and lagging.

In order to address what may have on the privatization of the result of the possible forced demobilization of the numbers of workers in these plants and facilities that will be privatized is the establishment of living problems Fund returns privatization contribute to the government as well as senior traders from inside and outside Iraq are his duties:

  • take care of the living conditions of surplus labor, which will be demobilized in some laboratories, facilities and support them financially until they are finding alternative employment opportunities have
  • oversight of laboratories and facilities privatized and periodic evaluation of their performance and monitoring deviations (if any) and make recommendations to the management body mentioned above to ensure the success of the experiment and overcome the difficulties and obstacles during the transition from public to private. Oil expert and consultant contracts.

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