Home
Muhammad Al-Najjar: Plans to establish joint development funds
money and business
Economy News - Baghdad
The Executive Director of the Iraqi Development Fund, Muhammad al-Najjar, advisor to the Prime Minister for Investment Affairs, identified 4 goals for establishing the Iraqi Development Fund, while confirming that there is work to form 6 funds during the next stage.
Al-Najjar said in an interview with “Al-Sabah” followed by “Al-Iqtisad News” that
“the main goal of establishing the fund is direct investment for development and diversification of the economy and changing its philosophy by introducing the private sector into investment as a major force, whether from inside or outside, and developing human capital and returning it to its previous state.”
His reign came after the wars and disasters that befell Iraq, which led to the erosion of a lot of experience,” adding that
“the other goal is to restore spirit to the small or medium-sized companies sector,
and to work to withdraw the monetary mass of citizens that do not have investment outlets and do not enter into the economy or the banking system.” By creating new outlets. Al-Najjar continued,
“There is a trend to create joint funds with other countries, which allows the trillion dinars that were allocated to create projects through the fund to increase, to reach 7-8 trillion through foreign investments,” noting that
“the local economy faces a number of problems and we aim to solve them by Through the establishment of 6 specialized funds, including those related to digital transformation, as Iraq is the country that uses the least technology among middle-income countries in the world.” He explained that
“the second fund is specialized in finding housing for citizens through the (rent and own) program by working through investors to build houses and rent them to citizens with the guarantee of those in charge of the fund, so that the citizen can own them after a period,” noting that
“one of them is concerned with education and from it will start a group of schools established by the private sector.”
The state rents it in order to create great job opportunities in the construction sector and solve the problem of the lack of schools.” The Prime Minister's advisor pointed out that
"the industry, agriculture, and environment funds do not conflict with the work of the relevant ministries,
but rather work to introduce technology, find new methods for irrigation, invest in water treatment methods, and introduce artificial intelligence to industrial projects, through investments for which the private sector is a guarantor."
Views 63 Added 11/01/2023 - 8:37 AM
https://economy-news.net/content.php?id=37178
money and business
Economy News - Baghdad
The Executive Director of the Iraqi Development Fund, Muhammad al-Najjar, advisor to the Prime Minister for Investment Affairs, identified 4 goals for establishing the Iraqi Development Fund, while confirming that there is work to form 6 funds during the next stage.
Al-Najjar said in an interview with “Al-Sabah” followed by “Al-Iqtisad News” that
“the main goal of establishing the fund is direct investment for development and diversification of the economy and changing its philosophy by introducing the private sector into investment as a major force, whether from inside or outside, and developing human capital and returning it to its previous state.”
His reign came after the wars and disasters that befell Iraq, which led to the erosion of a lot of experience,” adding that
“the other goal is to restore spirit to the small or medium-sized companies sector,
and to work to withdraw the monetary mass of citizens that do not have investment outlets and do not enter into the economy or the banking system.” By creating new outlets. Al-Najjar continued,
“There is a trend to create joint funds with other countries, which allows the trillion dinars that were allocated to create projects through the fund to increase, to reach 7-8 trillion through foreign investments,” noting that
“the local economy faces a number of problems and we aim to solve them by Through the establishment of 6 specialized funds, including those related to digital transformation, as Iraq is the country that uses the least technology among middle-income countries in the world.” He explained that
“the second fund is specialized in finding housing for citizens through the (rent and own) program by working through investors to build houses and rent them to citizens with the guarantee of those in charge of the fund, so that the citizen can own them after a period,” noting that
“one of them is concerned with education and from it will start a group of schools established by the private sector.”
The state rents it in order to create great job opportunities in the construction sector and solve the problem of the lack of schools.” The Prime Minister's advisor pointed out that
"the industry, agriculture, and environment funds do not conflict with the work of the relevant ministries,
but rather work to introduce technology, find new methods for irrigation, invest in water treatment methods, and introduce artificial intelligence to industrial projects, through investments for which the private sector is a guarantor."
Views 63 Added 11/01/2023 - 8:37 AM
https://economy-news.net/content.php?id=37178
