Private Sector "at the Heart" of Iraq's Economic Transformation

By John Lee.

Iraq's future economy should be measured not by oil production volumes but by added value, job creation, and regional and global integration, according to a senior adviser to the Prime Minister.

Yousif Al Dunainawi, Chairman of the Advisory Commission of the Prime Minister, made the remarks at the International Institute for Strategic Studies (IISS) Manama Dialogue 2026.

"The private sector is at the heart of the economic-transformation process because the state cannot be the only largest employer and investor," he said. "The state has to become a state that regulates and stimulates economic activity. The state is to set policies, protect competition, ensure fairness and transparency, and allow the private sector to lead growth and to create job opportunities."

He added:

"The future of the Iraqi economy should not be measured by the volume of oil it produces, but the volume of added value it can generate, job opportunities it can create, and its ability to compete and integrate into the regional and global economies."

Click here to read the full address.

(Source: IISS Manama Dialogue)

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