30 billion dinars launched by Investment Authority to support youth

Baghdad-INA 

The National Investment Commission launched, today, Saturday, an initiative to support youth with a value of 30 billion dinars.

The commission stated, in a statement received by the Iraqi News Agency (INA), that "under the patronage of Prime Minister Mustafa Al-Kadhimi, the National Investment Commission launched on Saturday 18 September 2021 an initiative to support Iraqi youth under the slogan (The Youth Investment) with the aim of introducing a number of innovative investment projects by a number of young people on a specialized committee of professors in the relevant ministries and institutions, in the presence of a number of ministers and officials from the public and private sectors, with the aim of obtaining financial support for the implementation of these projects.

The head of the commission, Suha Daoud Al-Najjar, said that "this initiative comes within the framework of supporting young people to enter the investment process currently existing in Iraq with new developmental ideas in various economic sectors.".

Al-Najjar added, "The authority will give these young people an opportunity to present their ideas to the public sector, represented by the presence of a number of ministers and officials in relevant institutions, in addition to a number of investors and businessmen interested in supporting this initiative.".

She also pointed out that "these ideas put forward can be transformed into important investment projects that support the Iraqi economy and provide job opportunities, to eliminate part of the unemployment in Iraq.".

In addition to that, she stressed, "the authority's determination to support young people and communicate their ideas to supporters from the private sector to establish these projects on the ground and pump new blood into the investment process in Iraq to complement the successes achieved by major investors and be a real extension of them.".

For his part, Finance Minister Ali Allawi stressed, in his speech, that "there are intellectual potentials among young people, which the ministry seeks to support by establishing a fund for which 30 billion dinars has been allocated.

 The ministry will also launch new initiatives to support youth companies, especially in the digital sector, which led by young people.

The Minister of Finance called on the competent international institutions to "contribute to the expansion of the fund's amount to reach 50 billion during the next two years, under the supervision and participation of a number of ministries."