A meeting on the development of a private sector strategy for Iraq was held in Erbil on September 17-18, with Prof. Dr. Güven Sak, founding director of TEPAV, serving as a keynote speaker and facilitating discussions on the review of Iraq's 2014-2030 Private Sector Development Strategy (PSDS).

Güven Sak emphasized two key transitions Iraq must undergo: reducing its dependence on oil revenues by moving towards a diversified, green economy, and ensuring a just and inclusive transition from a public sector-dominated economy to a more private sector-led model. In his speech, he highlighted that "an inclusive and transparent public-private sector dialogue is crucial in reviewing the PSDS" and stressed that the new strategy must be flexible and adaptable in a rapidly changing global economic environment. He further noted that “a robust monitoring and evaluation system, where the objectives and activities of the strategy are continuously reviewed and recalibrated, will be essential for progress.”

The meeting included key public and private sector organizations. Representatives from the Iraqi Ministry of Planning, Ministry of Finance, Central Bank, and Ministry of Trade, as well as the Business Union, Iraqi Businessmen Association, Iraqi Chambers of Commerce, Private Bank Associations, attended the workshop.

Participants agreed on the need to implement policy and legislative adjustments to enhance the dynamism and competitiveness of the private sector, ensuring alignment with emerging trends such as digital transformation, the green transition, and the achievement of sustainable development goals. Proposals were made to amend the current strategy to promote economic diversification, encourage investment, and strengthen the private sector through public-private partnerships. Discussions also addressed challenges related to company classification and registration, access to finance, and legal regulations affecting private sector activities.