Ministry of Trade discusses with World Bank representatives a strategy to support entrepreneurship and establish local companies

The Private Sector Development Department at the Ministry of Trade held a meeting (remotely) with representatives of the World Bank to discuss a strategy to support entrepreneurship, owners of small and medium enterprises and start-ups to advance the local economic reality. The ministry stated in a statement that "the meeting discussed the basic pillars of the entrepreneurship system that will be evaluated by World Bank experts through surveys and the application of laws specific to these projects, in addition to holding discussion sessions with project owners and providing recommendations on policies specific to each pillar." The statement explained that "the meeting came out with several recommendations aimed at developing the Iraqi private sector to advance the local economic reality," referring to "the pioneering role of the Private Sector Development Department in providing support to owners of small and medium enterprises, which is part of its tasks." On the other hand, the Investment Committee of th e General Company for Central Markets at the Ministry of Trade held its periodic meeting to discuss its investment projects plan, and the circulars received by the company related to investment projects in Baghdad and the governorates, including the recommendations of the Ministerial Council for Social Services regarding the Iraqi Construction Council as well as the mechanism for compensating contractors. The statement added that "the meeting urged the follow-up committees to complete the tasks assigned to them and prepare reports and correspondence to the relevant sectoral authorities to ensure the speedy completion and opening of these projects and to set a time frame for their completion and to submit periodic reports on the completed work. Source: National Iraqi News Agency