Baghdad: Prime Minister Mohammed Shia al-Sudani affirmed that the government is proceeding with implementing a clear vision aimed at regulating the labor market. A statement by the Prime Minister’s Office indicated that Al-Sudani chaired an extensive meeting on Sunday, devoted to discussing mechanisms for activating Investment Law No. 2 of 2009 to promote development and employ the national workforce. The meeting was attended by the Chairman of the National Investment Commission, representatives of relevant ministries and agencies, and the Iraqi Private Banks Association.
According to National Iraqi News Agency, Al-Sudani emphasized the government’s commitment to a strategic vision that seeks to expand social protection, boost confidence in the national economy, and transform investment into a dynamic engine for youth employment. The vision also aims to reduce unemployment rates by creating sustainable job opportunities through an integrated partnership between the government, the private sector, and international institutions.
Several executive outcomes were approved during the meeting, with a notable initiative being the launch of the “National Investment and Employment Initiative” under the Prime Minister’s auspices. This initiative is designed to provide a comprehensive framework to enhance national employment within investment projects and reduce unemployment rates.
Additionally, a higher committee led by the Prime Minister’s Office will be established to ensure the implementation of the Investment Law and monitor employment rates. The committee will focus on significant youth employment across investment sectors and require investors to implement mechanisms that enhance national talent participation in the labor market.
A unified electronic platform will be adopted to link the National Investment Commission with the Ministries of Labor and Social Affairs and Health, as well as the Central Bank of Iraq. This platform aims to document worker data in investment projects and connect them to social and health insurance systems.
Furthermore, the government plans to expand salary localization for private sector workers, supervised by the Central Bank and the Association of Private Banks. Projects committed to employing Iraqis and localizing salaries will receive incentives and privileges, earning the “Socially Responsible National Project” certificate. Private sector workers will also receive incentives akin to those in the government sector to encourage labor market integration.
Lastly, a national vocational and technical training program will be launched in collaboration with the National Investment Commission and relevant ministries, with support from international institutions. This program aims to qualify Iraqi cadres according to international standards, ensuring their efficient entry into the labor market and meeting the specialized skill needs of investment projects.