Dhaka:Economic specialist Dhurgham Mohammed Ali has proposed the creation of a Supreme Council for Industry and Investment to address challenges in these key sectors.

According to National Iraqi News Agency, Mohammed Ali emphasized the importance of structural economic reforms to activate productive sectors like industry and investment. He highlighted issues such as neglect, bureaucracy, the lack of a streamlined “single-window” system, and excessive red tape, all of which impede growth and are compounded by insufficient financing.

Mohammed Ali suggested that the proposed council should be chaired by the Prime Minister and include ministers responsible for industry, investment, and finance. This council would tackle issues at the highest executive level, respond to new developments, and have planning capabilities and authority that extend beyond the terms of individual governments.

He warned that without strong political will, Iraq’s economy would remain dependent on oil markets, leading to continued depletion of the nation’s wealth.