Prime Minister Zidi Meets Business Leaders, Outlines Private Sector Cooperation Plan

BAGHDAD, Iraq — Prime Minister Ali Falih Zidi met with businesspeople, private sector board members and bank managers to discuss economic development and reforms. The prime minister said the government would work closely with the private sector to implement its economic reform agenda. Zidi called on businesspeople not to make payments to facilitate their operations and asked that obstacles in state institutions be reported directly to his office. He emphasized the government's commitment to fighting corruption and extortion, adding that officials would maintain an open policy toward business proposals. The government announced plans for a one-million-unit housing program and expects private sector contributions to infrastructure projects. A development fund will be established with a 10-billion-dollar contribution from the Central Bank, designed to support the private sector and open to citizen participation. New factories created through the fund will be exempt from profit taxes. The government also said it prepared a monthly payment plan of approximately one trillion dinars to settle outstanding debts owed to businessmen and contractors. Additionally, laws hindering economic growth will be reviewed, and a group of businesspeople will join an upcoming visit to the United States aimed at increasing mutual investment opportunities.