How can a Tech Sector Contribute to Iraq’s Economy?

Egypt is another Middle Eastern country whose flourishing tech sector is driving economic growth. In 2014-15 the Egyptian tech sector created more than 100,000 tech sector jobs. The government expects the sector to employ another 250,000 workers over the next six years⁸.

How can the Iraqi government help to develop a tech sector?

The Iraqi government is largely occupied with national security problems as well as navigating the fluctuating prices of oil. But, if it were to turn some of its attention to helping an Iraqi tech sector to develop, it would help the country in a holistic way.

It can help by looking into ways to introduce training programmes to equip the unemployed with the skills that a tech sector would need (and which the modern working world needs). It could reach out to international partners for assistance in research and development as well as for investment loans.

Let’s take the Egyptian government as an example. It has committed to on-going investment in growing its tech sector. It has devised an extensive strategy to advance tech growth, including nationwide training programmes, improving infrastructure and business needs such as internet access, as well as raising funds to invest directly in the sector.

Government involvement is so important for a nascent tech sector to take form. And right now, a growing tech sector is precisely what Iraq needs.

(Source: Bite.Tech)

Sources:

1 – What is the value of entrepreneurship?

2 – US tech industry employment surpasses 6.7 million people

3 – We are the 8%

4 – The secret history of the industrial revolution

5 - Oil price slumps to $50 on stocks build and Opec doubts

6 – Lebanon’s tech sector flourishes despite challenging environment

7 – How tech will transform the Middle East

8 – Egypt’s ICT industry expected to drive economic growth