The Iraqi Cabinet has introduced innovative measures to enhance state revenues by utilizing public infrastructure for advertising purposes. This initiative reflects Iraq’s commitment to diversifying its economy and reducing reliance on oil revenues.
Key Provisions of the New Measures
Leasing Advertising Spaces
The Minister of Construction, Housing, Municipalities, and Public Works has been granted authority to lease advertising spaces on public road easements and bridges. These spaces fall outside the jurisdiction of Baghdad Municipality and local municipalities, ensuring a broader geographical reach for advertisers.
Flexible Leasing Arrangements
The leasing process is designed to be adaptable to different advertising needs. Leases may be awarded to:
- A single company operating nationwide.
- One company per governorate.
- Multiple companies based on specific advertising requirements.
Eligibility Criteria for Applicants
To ensure professionalism and accountability, only companies registered with the Ministry of Trade’s Companies Registration Department and specializing in advertising are eligible to apply for leases.
Rental Valuation Process
Rent prices for advertising spaces will be determined by committees established within the Ministry of Construction, Housing, Municipalities, and Public Works. These valuations will adhere to the guidelines of the amended State Property Sale and Rental Law (No. 21 of 2013).
Strategic Importance
This initiative is a critical component of Iraq’s strategy to optimize the use of public assets and bolster non-oil revenues. By monetizing advertising opportunities on public infrastructure, the government aims to:
- Increase state income.
- Support local businesses by providing advertising platforms.
- Promote economic sustainability and diversification.
FAQs
1. What is the objective of these new measures?
The measures aim to enhance state revenues by utilizing public infrastructure for advertising, contributing to economic sustainability.
2. Who is eligible to lease advertising spaces?
Only companies registered with the Ministry of Trade’s Companies Registration Department and specializing in advertising are eligible.
3. How will rent prices be determined?
Specialized committees will assess rental prices under the Ministry of Construction, Housing, Municipalities, and Public Works.
4. What types of leasing arrangements are available?
Leases can be awarded to a single company nationwide, one company per governorate, or multiple companies, based on advertising needs.
5. What areas are included in this initiative?
The measures cover advertising spaces on public road easements and bridges, excluding areas managed by Baghdad Municipality and local municipalities.
Conclusion
The Iraqi Cabinet’s decision to monetize advertising spaces on public infrastructure marks a significant step toward economic diversification and sustainability. By leveraging public assets, Iraq not only increases state revenues but also creates opportunities for businesses to expand their reach. This forward-thinking approach underscores the government’s commitment to optimizing resources and fostering long-term economic growth.