National priority or goals (NDS 2007- 2010 and ICI):
NDS: GOAL 1: Mitigate Poverty and Hunger
GOAL 3: Enhancing gender equity and strengthening women issues
ICI Benchmarks (as per the Joint Monitoring Matrix 2008):
4.3.2 Create an enabling environment for private investment and job creation
4.3.2.1 Undertake specific measures to design and implement private sector development policies
4.4.1.1 Eradicate Extreme Poverty and Promote Area-Based Development
4.4.1.2 Reduce unemployment by one half and double labor force participation for women
Sector Team Outcome(s):
1. Improved policies, strategies and related institutional developments that are sensitive to MDGs, social inclusiveness, gender equality and inclusive of those in poverty, all in terms of positive economic growth; and,
2. Enhancing the key-sectors of local economies in the most-deprived areas.
Objectives:
- Streamlining and simplifying procedures for doing business in Iraq by establishing an Investment Promotion Agency.
- Implementing commercial and regulatory reforms to develop a transparent legal and institutional framework to encourage entrepreneurship.
- Effectively utilising agreements with the Overseas Private Investment Corporation (OPIC), Multilateral Investment Guarantee Agency (MIGA) and the International Center for Settlement of Disputes (ICSD).
- Laying the groundwork for eventual privatisation of State-owned enterprises according to orderly, fair, consistent, and transparent procedures.
- Promoting private sector-led implementation of local community projects that are executed nationally.
- Restructuring State-owned banks to encourage consolidation and privatisation.
- Expanding the availability of commercial capital through concessional financing for micro-lending and small and medium enterprises.
