National Development Plan for the Years 2010-2014.

Iraq is seeking to be a peaceful and stable nation under the auspices of a federal democracy. It is also seeking to be an effective nation that functions in accordance with market mechanisms and a regional economic power. Based thereupon, Iraq will use its economic resources, both human and natural, effectively and efficiently to attain a competitive and diversified economy in which the private sector has a leadership role in generating wealth and jobs, while the government performs an organizational and enabling role to address market failures and ensure equitable distribution of national income so as to enable the most vulnerable social groups to fulfill their role effectively in achieving economic and social progress. All of this is to be achieved with guidance from the principles of democracy, the rule of law, good governance, sustainable development, competitiveness, social justice, freedom, and human rights”. In order to achieve the aforementioned Vision, the Government of Iraq adopted in 2010 the mid-term (five-year) National Development Plan (NDP) that proposes a new economic philosophy based on a market economy. Main new features of this Plan compared to the past are: the adoption of a participatory approach during its preparation; the consideration of private investment a fundamental partner in the development process; and the strengthening of a decentralized administration in order to improve the effectiveness of provinces’ roles in developing and managing their resources and the development process.