US, Iraq Strategic Framework Fact Sheet

Private Sector Development:  The two governments affirmed the vital role of Iraq’s private-sector in generating wealth through inclusive growth, improving living standards, and facilitating Iraq’s participation in the global economy.  They agreed to collaborate as follows.

• Conference on Private Sector Development:  The GOI, with the assistance of the U.S. Embassy in Baghdad, will convene a conference in January 2013 that will consider methods to rapidly transform Iraq's economy by unleashing the power of the private sector.
• Cooperation on Training Regarding Project Finance:  In view of Iraq’s need for foreign investment to build the infrastructure for provision of basic services, the U.S. government will assist Iraq in developing expertise in the methods of project finance, particularly the long-term financing of water, sanitation, and other infrastructure.
• Supporting an Ombudsman Committee to Facilitate Business:  Recognizing that trade with foreign companies contributes to Iraq’s own economic development, the Deputy Prime Minister established an ombudsman committee to facilitate the timely completion of business or investments in Iraq.  The U.S. government will support efforts to address specific concerns of companies and to improve Iraq’s overall business climate.
• Regulatory and Administrative Reform:  USAID and the Prime Minister Advisory Commission collaborated on the project, “Iraq Solution for Regulatory and Administrative Reform” (ISRAR).  The project aims to improve the business climate in Iraq through a comprehensive review of laws and regulations affecting business to devise proposals for regulatory and administrative reform.
• Cooperation to Improve Government Services:  USAID signed Memoranda of Understanding with the Ministry of Transportation and the Ministry of Public Works and Municipalities to improve service delivery.  The assistance to be provided aims to improve planning for capital projects, procurement, project management, and availability and quality of services.