Baghdad: Minister of Labor and Social Affairs Ahmed Al-Asadi emphasized the crucial role of supporting and financing small and medium-sized enterprises (SMEs) in driving economic growth and generating employment opportunities.

According to National Iraqi News Agency, Al-Asadi's remarks came during a meeting with Giorgi Gigauri, the Head of the International Organization for Migration (IOM) Mission in Iraq. The discussion focused on addressing the challenges posed by regular and irregular migration and their impact on the Iraqi labor market. The Minister highlighted the Ministry's initiatives to collaborate with international organizations to tackle irregular migration due to its adverse effects on communities.

Al-Asadi noted that the Ministry has already issued thousands of loans aimed at financing SMEs, underscoring the importance of strengthening partnerships with global entities to ensure sustainable funding for these enterprises. He expressed the Ministry's willingness to engage in collaborative efforts with the IOM in areas of mutual interest.

The meeting also covered the draft of a memorandum of understanding between the Ministry and the IOM. Al-Asadi instructed that the draft be thoroughly reviewed and the necessary legal steps be taken to expedite its signing.