Prime Minister Ali al-Zaidi met with a group of Iraqi businessmen, economic council members, private sector representatives, and leaders of private banks to discuss ways to strengthen the country’s economy and support private investment.
During the meeting, al-Zaidi stressed that the government sees the private sector as a key partner in its reform plans. He promised to keep communication channels open and encouraged business owners to bring forward their ideas, concerns, and proposals.
The Prime Minister also urged businessmen not to pay bribes or unofficial fees to complete their work or secure their rights. He said his office is ready to intervene whenever government officials create unnecessary obstacles.
Among the most important announcements made during the meeting was the creation of a Development Fund for the private sector. The fund will receive $10 billion from the Central Bank of Iraq and will be open for public investment at the official exchange rate. Profits earned through the fund will be tax-free, and the money will be used to support new factories that produce goods needed in the Iraqi market.
Al-Zaidi also revealed that work is continuing on a project to provide one million residential plots. The private sector has been invited to help build the required infrastructure, while the land will be allocated to citizens who do not already own property.
On outstanding payments, the Prime Minister said the government has arranged monthly installments of around one trillion Iraqi dinars to pay businesses, contractors, and companies that are owed money. He added that these payments are expected to increase as oil export challenges improve.
The government has also issued instructions to solve tax-related problems and remove conflicting regulations that slow down financial and economic activity. Al-Zaidi said all laws and decisions that hinder economic growth or limit private sector participation will be reviewed.
Looking ahead, he announced that a future visit to the United States will include a delegation of Iraqi businessmen to help expand investment opportunities and strengthen economic ties.
Business leaders attending the meeting called for closer cooperation with the government on development projects, identifying market needs, and finding practical solutions to Iraq’s economic challenges.
