Revitalizing the Iraqi Industrial Sector – Challenges and opportunities for the private sector implemented by GIZ

Per the second official invitation by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH “GIZ”; our firm has attended the Private Sector Development and Employment Promotion Project (PSD) monthly after-work event called “Tawasul” organized by the German Federal Ministry for Economic Cooperation and Development (BMZ), co-financed by the European Union, and implemented by GIZ in Babylon Rotana Hotel/Iraq, attended by Dean of the College of Business Economics at Al-Nahrain University, Dr. Nagham, President of the Federation of Iraqi Industries, Mr. Adel Ekab Hussein and an official representative of the Ministry of Industry and Ms.Adeline Defer Head of Project, Private Sector & Employment Promotion Project at GIZ Iraq.

This event provides an opportunity for stakeholders from the private and public sector, as well as academia to informally exchange on topics related to issues on private sector development in Iraq.

This Tawasul event brings together relevant stakeholders from public and private sector to discuss in an interactive setting how the Iraqi industrial sector can be reinvigorated. Led by a panel of local and international experts on industrial policy, we can jointly explore the question of how Iraqi industrial factories can be supported to enable them to meet local demand, leverage their export potential and create employment opportunities, thereby supporting Iraq’s path towards a more diversified economy.

Each side of the attendees expressed their vision according to their specialization and the factors that contribute to the development of the private sector, where Dr. Nagham pointed to the importance of developing the academic aspects and its effective role in providing a workforce with expertise in the market, as well as the weakness in the vocational schools in the market in the present time, which led to attracting expats and expertise from outside Iraq to manage the simplest aspects of business.

In addition, the representative of the Ministry of Industry and Minerals referred to the ministry’s upcoming plans on supporting the private sector and industrial projects in particular, with regard to the ease of obtaining projects for import and investment licenses and shortening the time for projects to provide their needs of raw materials and support their products.

Also, Mr. Adel, head of the Iraqi Federation of Industries, has affirmed the need to develop and grow the role of private sector projects by applying some radical solutions from all sides, including import and logistical solutions, and providing further support from the competent authorities, and get up with solutions on how to encourage domestic production, while our firm through his team attending the event, has highlighted the significant role the private sector should carry out in the development and growth of the country economy and suggested means to activate this role.

Given the primary role of legal institutions in this matter, our firm, through our distinguished attorneys, was keen to attend such events to support the country in improving the national capacities to formulate private sector development policies and to advance the operational, regulatory and legislative environment that helps the development of small and medium-sized enterprises in Iraq.

Highlights of our firm participation in below pictures and video: