Private Sector Accountability in Iraq to achieve Sustainable Development
Private Sector Accountability in Iraq to achieve Sustainable Development - Download Full Report
Introduction:
A growing global trend considers the private sector an essential component of the sustainable development process in developed and developing countries alike, considering its advantages and qualifications to play a pioneering role in the economy and social fields. The private sector›s relationship to economic development has been subject to in-depth discussions in the international cooperation framework. Most studies highlight the positive and strong links between them and that growth in development is closely related to private investment.
Transformations in economic policies in the last two decades of the previous century led towards the market. It reinforced a heavy reliance on the private sector. Privatization programs were implemented on a wide scale. As a result, the share of private investments grew compared to other types. Some studies showed that private sector investments are one and half times more effective than public investments. Thus, private sector investments are closely linked to sustainable development and economic growth in societies with the right environment.
In Iraq, the private sector needs to be encouraged to finance sustainable development goals in the face of local and global challenges, mainly due to the crisis of the state and its diminishing ability to do so. However, private sector accountability remains a pertinent issue, considering its growing role in development, its prospective partnership in achieving the SDGs, and its involvement in providing essential public services, impacting people›s lives and fundamental economic and social rights in particular.
This report seeks to bring to light private sector accountability in its activities, analyzing public policies that impact accountability and achievement criteria. The report does not aim to describe the conditions of the private sector, although it includes information necessary to understand the sector›s requirements and socioeconomic context.
The report monitors the situation in Iraq using a right-based and developmental approach and the framework of national and international obligations that delineate general social trends related to democracy, equality, and equity. Thus, it avoids the charitable and voluntary approach in dealing with the private sector›s social responsibilities. Instead, it places it at the heart of the economic reform process, in line with its role and responsibility towards society, framing its practices through legal and human rights commitments while preserving its material profitmaking goals without harming society and the environment.
The report includes two main sections. The first deals with the state and the private sector, challenges related to the development of this sector, and government measures to enhance its role in the sustainable development process. The second section analyzes three primary issues. The first is related to identifying critical sectors for private sector growth. The second elaborates on the crisis of renewing the mobile telecommunications license. The third discusses the private sector›s involvement in providing public services in the production and distribution of electricity. The final part provides a conclusion and recommendations.
Dr. Hasan Latef Kadhim
Private Sector Accountability in Iraq to achieve Sustainable Development - Download Full Report
This Publication is part of the ARAB WATCH REPORT 2021.
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