Baghdad: Prime Minister Mohammed Shia al-Sudani announced the adoption of March 4th as a National Entrepreneurship Day. This declaration was made during his sponsorship of the Riyada Conference and Exhibition, which serves as a platform to review the work of young people and gather their proposals to address obstacles hindering their endeavors.
According to National Iraqi News Agency, Al-Sudani praised the role of young individuals in utilizing their ambition to create opportunities and foster hope with a realistic vision for the future. He highlighted the importance of collaboration with the private sector, as small projects initiated by young entrepreneurs are expected to evolve into larger, more feasible ventures. The Prime Minister emphasized that Riyada is a crucial economic reform step within the government's program, aimed at supporting the private sector and tapping into the potential of young people. The initiative has already attracted over half a million young men and women, with women comprising approximately 27% of the applicants.
Al-Sudani pointed out that the conference is an opportunity to listen to young people's suggestions for overcoming obstacles in their work. He expressed the government's commitment to supporting young women in particular, through training and loans, due to the higher unemployment rate among women. The initiative is set to transform into an institutional entity, fostering connections between youth and financial institutions, banks, and organizations offering training and technical support.
The Prime Minister commended the positive involvement of banks and financial institutions, especially the Central Bank, in the initiative's success. He stated that efforts are underway to create the right environment for young people entering the labor market, enhancing their skills, and promoting their integration into digital technology and modern banking transactions. The initiative has also been incorporated into a training curriculum at 80 vocational secondary schools, with plans to extend it to other secondary schools and universities.
Al-Sudani described entrepreneurship as a youth awakening that will guide Iraq towards a better future in the face of accelerating economic challenges. The government program prioritizes economic reform by supporting the private sector, transforming crises into opportunities, and addressing issues across various sectors while creating annual job opportunities. He also acknowledged the Ministry of Higher Education's initiative to establish an entrepreneurship division within the Science Parks Department at universities, which aims to nurture emerging ideas and encourage youth participation.