Final Declaraction

Final communiqué

Under the auspices of the Minister of Higher Education and Scientific Research in the Kurdistan Region of Iraq held the fourth international scientific conference in the University of Noroz - Faculty of Management and Economics under the theme of looking forward prospects for the economy of the Kurdistan region in the light of the current changes during the period 12-13 April 2017 in the city of Dohuk province Kurdstan Iraq .

The scientific committee of the conference received (63) researches, 26 research papers were selected out of (42) researches in accordance with the themes of the conference from Iraq, Egypt and Jordan, and distributed on five main axes: economic, administrative, accounting, financial and banking. , And over two days distributed in four sessions in addition to the opening session.

On the sidelines of the conference was the opening of an international exhibition of local and international currencies and over the days of the conference, and recommended the participants in the conference:

Restructuring the economic sectors and developing their regulatory environment in order to enable them to play their active role in the service of development and society.
Building and strengthening a real partnership between the economic sectors in the Kurdistan region and universities and research centers to address the challenges and difficulties facing the economy of the Kurdistan region.
Reviewing fiscal policies by favoring customs administration, revising customs tariffs and income tax, opening new customs outlets, levying managed emissions taxes and reducing unjustified spending.
The restructuring of the banking system and its directions and policies, taking into account the economic role of private banks and the need to legislate laws or instructions guaranteeing the rights of individuals in matters of deposit and withdrawal through the establishment of specialized institutions to guarantee deposits and insurance loans taking into account the risks and international credit rating.
Activating the oil and gas sector, thus enhancing the role of revenues in new investment fields capable of reforming the economic structure in the Kurdistan region.
Adopting integrated strategies and efficient work programs for the purpose of maximizing the volume of public revenues and reducing the proportion of public spending, while emphasizing the economic diversification through contemporary development alternatives in maximizing GDP.
Working towards the formation of sovereign funds to ensure continuity of investment spending in the face of emergency economic and financial crises.
The review of the currency auction for the suspected financial corruption with the tightening of control over the channels of exchange and finance.
To avoid the illegal exploitation of hard currency by the fixed exchange rate policy to a parallel exchange rate for the purpose of moving to the exchange system managed in response to the real internal and external shocks that go through the Iraqi economy in general and the economy of the region in particular.
The expansion of the lending of various projects to finance economic activity and the elimination of the recession that narrowed the economy in the region because of the tight financial policy, as well as to encourage investment in the region of all kinds, especially industries that constitute the replacement of imports from neighboring countries as well as absorb local labor and raise the incomes of citizens.
To activate the operation of the stock market in the region through the opening of multi-joint-stock companies economic activities to enhance the real production corresponding to the financial market.
Remove all obstacles facing the agricultural sector from previous legislation and regulations and set incentives for agricultural sector managers.
To enter into foreign investment partnerships in the field of agricultural and livestock production in order to meet the needs of the region and the market of commodities.
The search for new sources, especially minerals, to contribute to diversify revenue sources in the region and reduce dependence on the oil resource.
Revisiting urban planning to achieve a balance between the countryside and cities for population stability.
Fair distribution of investments in general geographically and spatially.
Reviewing the cost of subsidized services according to the level of classification of residential areas (electricity, water, and other municipal services). To reduce public spending.
The adoption of the zero-budget method and performance programs in the preparation of the budget of the region instead of the current method adopted by focusing on the allocation of funds for activities and programs necessary to achieve the goals set.
To activate the tourism sector in the Kurdistan Region through the establishment of partnerships with international institutions in order to achieve the economic objectives of infrastructure and senior management capable of sustaining these facilities.
The conference emphasizes giving attention to applied research in the economic, administrative and financial fields through the establishment of specialized consultative centers at the level of the region in general and in particular.
Working to establish a specialized body to manage the public debt in the Kurdistan Region is to follow the conditions of indebtedness and work to activate the credit rating of the region and support financial financial sustainability.
Call for the development of banking education in Iraq and benefit from the methods of distance education in the development of the current banking staff according to a special banking certificate.
Establishing a partnership between the administration of Dohuk governorate and the universities in establishing specialized conferences and workshops related to the economic, financial and administrative problems in the province and the governorate.