Thread: Archive - Latest News Think Tank - 15/01/09 - 04/05/09

Oil and Gas law is designed to promote the reality and the development of Iraqi oil investment

Discussions are still ongoing in the House of Representatives in order to establish the law of oil and gas, waiting for the Iraqis to be a solution to many economic problems and the beginning of a strategic oil advanced achieve economic well-being of the country, was formed in the House of Representatives of the five committees to study the draft law and submit its recommendations for approval by members of the Board and to shed light on the law of oil and gas We seek the views of a number of specialists and others who are concerned by this matter.
Law suits the present stage

Caldctor Abbas al-Tamimi, who believes:
Passage of the law of oil and gas will be a lot of economic problems facing the Iraqi economy, including high prices of oil derivatives and the order of the relationship with the international oil and Iraq's foreign debt write-off and achieving a balance between the requirements of the International Monetary Fund and the needs of the Iraqi reality, which regulates the relationship with central government provinces in terms of monetary policy and regulate the foreign oil investment in Iraq and plans for the President of these investments, this investment is important for the advancement of the economic reality of Iraq, and rehabilitation and we need to develop oil fields and rebuild the old way that suits the present stage of exploration and research and citizen of the oil in Iraq. The drafting of this law is the jurisdiction of the committees in the House of Representatives, where it is possible amendment Doro added a new language or finding solutions to the points of difference as long as it is in the interest of the entire Iraqi people.

The lawyer Walid Shabibi has said:
Ptsouri This law aims to preserve the interests of the Iraqis, and there is a near consensus on the importance of this law to achieve the interests of the Iraqi people which is expected to be approved by parliament and is designed to translate the aspirations of Iraqis and to preserve the interests of the people and all the most important thing in this law is to form a national oil company which is one of the most important articles of this law is that the company had existed before 1968, but the former regime by resolving it with the flag of the ****utive arm of the oil .. We also special management or the policy runs the oil in Iraq - and there are many of the items in this law has been impounded by the House of Representatives could be redrafted in the form in which the Iraqi people ... and I think that this law is urgently needed and necessary need the Iraqi people At this stage, and the next stage and I think that the House of Representatives, which represents all the Iraqi communities to reach a final stage of this suit and serve the people in general.

Media Qahtan said:
The oil and gas law was inspired by the constitutional articles 111-112, 121 and this shows that this law was drawn according to the wording of the constitutional frameworks that there are some with which Altcolat, which promoted the view that the legal powers and privileges will be on hand at the expense of dedicated service, or this side of law and vice versa, but balanced between the center and the regions and governorates, and that the adoption of this law will greatly help to solve the problems that have occurred over the price of Iraqi oil and the decline since the formation of oil policy and programming will be organized according to this law and its effect on the Iraqi economy in general and the implications of the This measure of the recovery and development, and also need an educational campaign to show the importance of the media law of the Iraqi people and its development.

The economic researcher .. Adnan Al-Anbuge's intransigence, he said:
The law of oil and gas to the restructuring of the Ministry of Oil and the restructuring of the national oil company and the organization of foreign investment in the oil sector, the Act also aims to re-regulate the relationship between the center and the provinces with regard to the role of oil and oil investment in Iraq, Law aims to promote the reality of oil in the whole of Iraq and I think that there will be a step to be followed in this law before submitting it to the House of Representatives introduced a law for the people by means of a referendum or an objection or rejection of some material may be inappropriate for this phase, which is the country. Especially with the changes in the global economic arena and the significant decline in oil prices worldwide. This law could be a panacea that heals all wounds and save the imbalance in the oil sector in general.

Engineer Mahmoud Shaker Halboss said:
In this law, it should be noted the time for exploration in addition to the exclusive production years for the development of oil fields, which requires the effective participation of the State in the fields to the ceilings specified time may be extended depending on the agreements and not more than ten years and the companies undertake to protect the environment from pollution and the Iraqi imposed fines and penalties in case of breach of the order must focus on the rights of Iraqi workers and the development of infrastructure and financial sector development and the development of the fields of common border with other countries .. I believe that this law serves all segments of the Iraqi people and lead to the development of ideas that serve Iraq and the development of national economy. Also, I think that defines the powers of the foreign companies to work in accordance with established controls can not be breached or bypassed and the direct supervision of the Ministry of Oil and the national oil company.

Ms. Sundus Ali Mehri, master's degree in economics says:
The most important of the draft law is the State's obligation to work for national participation in the management of real Almassadralnaftyp Ttoerhamn and to ensure the national interest, as stated in the law that such participation is not less than 51% of all contracts concluded in the management and development and the discovery of oil resources, to ensure the interest in general, and the national oil company is the hub of operations in the administration of President-oil is responsible for the management of a large proportion of Iraq's oil reserves to enhance the production and development. The oil revenue is for the Iraqi people, according to the census this year and preserves the territorial integrity of Iraq, its people, and justice among the provinces will be in accordance with this law, Iraq's oil to the Iraqis.

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The government formed is a higher committee to find a solution to obstacles facing the investment process

Government has formed a higher committee to find a solution to the obstacles facing the investment process in the country.

The Minister of Construction and Housing statement Dizah Yi during a meeting with the Chancellor of the U.S. embassy for the housing sector, John Reid, the committee consists of representatives from the Ministries of Construction and Housing, Municipalities and Public Works and Finance and Planning in addition to the national investment and the HABITAT organization.

Pointing out that the laws that control the mechanism of work of the Ministry of Municipalities, especially with regard to the laws of the land is needed to amend the old commensurate directed towards the Government's current investment.

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Themes that will be the economic work of 2009

We were not in Iraq, regardless of what happened in the region and the world, which in turn is reflected on our economy has been affected by the performance of the national economy of such developments, which led to a reduction in the rate of economic growth during the past four decades. This, in turn, reflected negatively on the performance of public finances and balance of payments in the event of Iraqi failure to take necessary corrective measures without delay, with what may be a consequence of the price in the short term, the suffering will be further ex****bated by the long run, especially in light of a current global financial crisis.

In spite of its economic adjustment process in recent years after the events of 2003/4/9, but there are still problems of financial and economic structure to be addressed and will not serve to focus on a partial solution to the problem, but must be certain to deepen the national correction in all its forms and expand its scope to include various levels in Iraq, alas, live all these crises is the most important and most dangerous, but I think the crisis is modest lack of clarity in the economic policy that can serve the Iraqi economy and within the framework of this proposed action on a number of economic topics including:

1 reduce the budget deficit of the state through the rationalization of public spending the government, both operating and investment expenses, operational since 2004 up until 2009 as planned, with more than doubled while investment expenditure is the cost of the service in the administration, beset by crisis and the weakness of the absorptive capacity of the projects are that through the study of public spending in the 2009 budget in earnest in order to spend a substantial and unjustifiable, the following respects:
A question of social benefits
B similarity in many of the powers of the ministries in spending
Fri large slack in the job of Iraq's more than 2 million government employees due to the current direction of fiscal policy to tackle unemployment in Iraq by opening the door appointments to government posts and is already suffering from unemployment, which means free access for the production and thus increasing the demand the supply of goods and services, which leads to an increase in inflation in the Iraqi economy.

2 the need for the Central Bank of Iraq to change the deflationary monetary policy in dealing with inflation because the inflation problem in Iraq is not a problem as a purely monetary officials believe the Central Bank of Iraq, but that inflation in Iraq was a result of the deepening of structural imbalances in the Iraqi economy and aggravated by two factors :
A poor security
B chaos governmental administration, which led to a shortage of fuel and energy and the emergence of leaders of non-efficient management and non-qualified to lead the first place in the new Iraq.

The issue of liquidity is one of the reasons inflation is not the sole cause of this lack of evidence of the success of the bank's monetary policy over the past five years in the alleviation of inflation in Iraq.

When the central bank to lift interest rates from 6% to 20% led to the departure of government banks and private investment in the productive sector to invest in the Central Bank and 20% and risk-free investment is the content when there is no risk but so far the bank to cut interest rates to 14% I believe that this figure is still high and not conducive to achieving the desired results because the investment banks in the world is much less than the interest rate may end up in most international banks to 1% was close to zero, the centennial.

So do not expect that the Central Bank of Iraq, while reducing the price of credit, or bump up will succeed in controlling the inflation problem is not confined to the credit sector and in the case of a balance between the amount of money and presented the problem in Iraq, but only in the productive sectors in decline dwindling per capita productivity

3 the need to build a trade policy and a prudent and reasonable for the existence of a state of chaos in Iraq since the trade 2003/4/9 events because of the importation of goods and Ardo Iraq by flooding the market at the expense of the local product, with a lack of trade to a halt a lot of local industrial plants due to their inability to meet the product because of the importer (repression purchase), which suffered by Iraq since the citizen in 1990 and so far because of the economic embargo imposed on Iraq, leading to disruption of many industrial facilities the task of local industry cigarettes, blankets and leather, and others.

4 Court of a plan to manage the public debt (external and internal), and by reducing the ratio of public debt to GDP does not exceed the percentage (30%) of the gross domestic product and to reduce local sources consumed in the debt service and increase the resources available for investment because the interest paid on debt consume a significant part of our domestic resources and we must not forget the role of the Ministry of Finance in the wonderful firefighters large part of the external debt of Iraq.

5 to end the file of compensation in the amount of the Gulf War (52) billion dollars that the payment (5%) of crude oil imports to compensate an obstacle in the development of the President of the Iraqi economy and the current and future growth, especially in light of the current global crisis, which led to a reduction in price of a barrel of crude oil $ 40 per barrel and the intensification of efforts in this area to be reduced to (1%) or complete elimination and the decision by the United Nations.

6 need to develop a new strategy for external borrowing by linking internal and external indebtedness of public expenditure priorities and to be serving the public debt within the capacity of the national economy to endure must be based on this strategy to a scientific and objective study of the projects to be funded from this source, particularly from the government guaranteed loans to public institutions to be able to service its debt and to fulfill their obligations themselves.

7 the need to activate the General Authority of taxes and public awareness and improve the efficiency of tax collection of public funds and the fight against tax evasion to the realization of the principle of justice and the collection of the arrears due from taxes and the implementation of laws in this field.

8 public sector reform and public institutions through the following:
A Rphiha a scientific and management skills that can improve performance and service delivery.

B re-pricing of the services provided by some of these institutions to become more realistic and to reflect the true cost of service and creating the phasing out of its financial support from the public coffers, and to rely on their own resources.

9 part of the efforts towards economic reform, administrative and technological development and the resulting increase in productivity of staff through training and rehabilitation programs and the introduction of information systems so that such development inherent to the process of development and the promotion of their acquisitions.

10 mobilization of domestic savings and attract foreign investment, bearing in mind that to attract foreign investment, especially direct, but not through the achievement of security and stability in the country and is not Iraq, and enjoy a secure oasis of political stability and success in building a state of institutions that protect the rights and deter abuses and enable the investor Iraqi, Arab and foreign expectations of building a high degree of certainty and assurance of equal opportunities and fair competition and the rapid elimination of litigation can not achieve economic openness and attract Arab and foreign investments

11 Finally, it must be the continuation of the policy to encourage exports and increase the competitiveness of production in Iraq by improving the quality and reduce cost and to establish the Arab free trade zone and benefit from joining the World Trade Organization to increase our exports and increase the flow of Arab capital and foreigners in Iraq is God Almighty help and conciliation.

* Iraqi academic researcher

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Maliki warns of election rigging

Prime Minister Nuri al-Maliki for the manipulation of the results of the elections, stressing that the positions would be taken against the firm of deliberately falsified or influence the choices and freedom of the voter.

The Prime Minister called on citizens to take part in the elections of provincial councils, Hada people on the news about the case of any fraud or forgery in order to ensure the integrity of the elections. He was a member of the Independent Electoral Commission judge Qassem bonded detection of the "morning" on Saturday, that the election results will be announced after three days of an entitlement in all parts of Iraq, which is on the third of next month. Mr. Maliki said during his speech to a crowd of people who represent the people of the province, and representatives of the tribal Anajafip, in the holy city of Najaf on Tuesday, said that the upcoming elections is one of the building the rule of law, stressing the need "to be competitive on the basis of service and fair competition and counterfeiting, not the search for and ignoring the negative aspects of the pros."

He called on all officials to abide by the electoral process, impartiality, neutrality, returned to give up on the "betrayal" because the responsibility of the legitimacy of the elections and national protection and must respect its results, and whatever the results are in favor of Iraq because it reflects the will of the Iraqis.

The Commission said recently, the completion of all preparations for the elections, with mixed news on the imposition of curfew. The head of the government, "the next election will draw the image of the new Iraq we want to end all the gaps that we have inherited from this interim phase, which is managed by the State, elections mean responsibility, partnership and non - acceptable to the citizens to refrain from participating ", urging at the same time to make amendments to the Constitution.

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No new ration card in the absence of receipt of the deadline

The Ministry of Commerce that it will withhold the ration card to the new citizens in the absence of receipt before the deadline of the end of distribution in the twelfth of next February.

The Director General of the Department of Supply and the Ministry of Planning luxury Riad al-Hashemi told a news briefing during a visit to a number of branches of Supply in Baghdad, calling on all citizens to speed up delivery of new ration cards for 2009 in time for this purpose, a period of one month from the date of commencement of the distribution process in the twelfth of this month, he said, adding that during the visit, noted the lack of public demand on the supply centers to receive the cards.

Stressing that he exceeded the time the citizen will be withheld from the ration card. He pointed to the need to write-off of passengers and the deaths and cases of repetition of the new card as the existing controls, and called for citizens to be reported breaches of these controls, especially the ministry promised that the time limit for the distribution of the scent of opacity legal issues for irregularities.

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Parliament is to legislate a law on social security

A First Deputy Speaker of Parliament Sheikh Khaled al-Attiya went on the parliament to legislate a law of the integrated social security cover large segments of society.

Attiyah said in a statement to "Al-Sabah:" The parliamentary committees to discuss with a number of ministries and governmental bodies to work on the legislation of an integrated and comprehensive social security, he said, adding that the draft law in line with conditions stipulated by the Constitution, which led to the issuance of legislation to ensure that the Iraqi citizens a dignified life in cases of disability and old age, disease and disability, the unemployed, the other of the other cases.

He pointed out that "the parliament held a seminar yesterday where the guest of a member of the British House of Lords as the considerable experience in this regard, especially given that the House was keen to open up to the testing of this important global issue," noting that "this symposium was the participation of a number of parliamentary committees on the matter as the work and services, and human rights of women and the Ministries of Labor, Health and Human Rights to discuss the issue of social security, particularly the British experience in this regard, it has been studied aspects of the social security legislation and the surrounding of the financial aspects and technical and artistic. "

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Zubeidi: Emirates waived all of their debt, and a discussion with Kuwait

Neighborhood: In an exclusive interview to the newspaper «home» said Finance Minister Bayan al-Zubeidi Economic Summit was held in difficult conditions and under a complex division between some of the Arab peoples and although it has the wise leadership of the Emir of Kuwait to reach reconciliation between the presidents and Arab leaders, he The wisdom of this summit, the Emir of Kuwait has been blurred and broke the ice and in treatment of the Arab world was divided into two parts.

At the outset, we asked the minister Zubeidi Are you an invitation to the Arab investors to invest in Iraq?
- Yes, no doubt, he said, are invited to our people in Kuwait, especially investors, traders and industrialists to begin work and investment in Iraq in accordance with Law No. 13 of the investment and knowledge of each province now have the authority to grant a large investment opportunities, but that each province to have the large-scale projects and provide them with budgets of up to $ 250 million without reference to the center in Baghdad, the fact that we really need to investors as well as for the revitalization of tourism, where is expected to enter Iraq for more than 20 million tourists in the area of religious tourism, as well as the hotel sector can invest and the transport sector, especially air traffic between Kuwait and Najaf and the new airport in Baghdad , and can also take advantage of other investment sectors in the construction of hospitals and to contribute to the construction of a railway linking the Gulf through Kuwait and Iraq to Europe and, consequently, the activation of this axis of economic and commercial importance, and the Add to this that there are many investment sectors can be used inside Iraq as soon as available Investment Law No. 13.

How to find the results of the economic summit in Kuwait?
- First, we must emphasize that the economic summit was held in difficult conditions, complex and a clear division of Arab and particularly after the Doha conference and what happened in Gaza, a heinous crime in the attack on the Palestinian people and the killing of children and women as well as in light of the financial crisis, however, able and wise leadership of His Highness the Emir of the country Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah said that the work of reconciliation between Arab leaders, yes, did not reach a reconciliation to the depth of the contentious issues, but we can say that it broke the ice and were it not for a reconciliation of the Arab world is already divided in half and returned to us the memories of more than 30 years, will become Without doubt, this difference in views to the conflict and thus negatively affect the unity of the Arab nation, therefore, the initiative of His Royal Highness Prince initiative successful reunion and reconciliation between Arab leaders and we hope to evolve to meet the financial crisis that began in the credit sector in the United States and entered the homes of all the world and This crisis has entered a phase of a multi-sector credit to the sector is the most important industrial sector and other sectors and therefore have taken their toll in each house.

Of the economic summit here, and I hope to take the project put forward by His Highness Prince more attention by the Arab leaders and by participating in the establishment of the Development Fund for granting soft loans to small and eliminate unemployment, with the elimination of unemployment in the Arab nation, means the elimination of terrorism because there was a relationship clear between terrorism and unemployment, as the advantage of terrorist organizations, unemployed youth to work and I hope the success of this project, and we thank the Prince for the donation of half a billion dollars of those loans, and I hope to continue this initiative and to be complemented by the success of this summit a success and where it is leading to some extent been able to solve many of the dilemmas in the region.

What is the extent of the impact of the global economic situation on the Iraqi economy?
I confirm that all countries will be affected by this economic crisis, but considering that Iraq is not one way or another linked to the global economy has not affected the banks, not even the Iraqi financial market, today has become the best investment in the region is to invest in the financial market, where the value of the stock is less than a quarter of the value of assets of each of the projects that have entered Iraq to the financial market was not affected, but that rose, while other shares fell due to the global system not linked to, but that after a major impact on Iraq was a decline in oil prices to the thirties, leaving a negative impact on the Iraqi economy and we had to reduce the budget eleven billion dollars and was scheduled to be Iraq's budget in 2009, 70 billion dollars and we have to reduce them to 59 billion dollars to have a deficit in the range of 20 billion dollars and that is why we believe we're going to be a difficult year but will have an impact beyond the 2010.

How much is the size of Iraq's debt?
We have managed through our relationship with the International Monetary Fund and our relationship with the Paris Club countries and international decision to reduce Iraq's debt by 80 to 100 percent for Arab states have been the lead of the United Arab Emirates, which has reduced its debt by 100 percent in the countries of the world there are more than 43 countries reduced debt between 100 percent and 80 percent, for example, the United States, Cyprus and the other was reduced to 100 percent, and the Soviet Union or Russia has 93 percent and 90 percent of Serbia to reduce Fasttena date, a total of 80 billion dollars of debt owed by Iraq, which left bloody dictatorship which exceeded 140 billion dollars is still a discussion with some Arab countries to join up and contribute in assisting the Iraqi people, who live a heavy burden of the actions of the totalitarian regime.

Is the talk between you and the State of Kuwait on Iraq's debts?
I visited Kuwait City many times and we talked about this issue and I think there is an understanding from the Kuwaiti side, and I think that this issue will be, God willing, through negotiations between the two countries.

Page Will there be a trade between Kuwait and Iraq to give Iraq the water of Kuwait Kuwait in exchange for a waiver on this debt?
- I think that Iraq should cooperate with Kuwait for many reasons, firstly because Kuwait suffered from Saddam Hussein's regime and therefore a lot Kuwait helped the Iraqis before, during and after the fall of the dictatorial regime that we are ready to cooperate with Kuwait and its people, even without debt relief, both in the field of water or gas or the opening of the Kuwaiti investments to investors because we believe that they have priority in the area of investment, first as a neighborhood and then an alliance, friendship and positive relationship between the two countries should invest and develop and we must not allow the intruders and Mordin influence on the relationship between the two countries.

What is the future of your project with Kuwait and with the rest of other countries?
- We are open to all countries in the world and we have also said the investment law, 13 can be found for investors to contribute in the reconstruction of Iraq, and investment.

How does the Kuwaiti investor with the competent authorities in Iraq?
- The only contact the Investment Authority, or contact directly with the governorates that the governor of each major, as well as the validity of the Council of the province and could project grants and opportunities for investment and approval directly.

Is it possible to build a strong and distinguished based on the brotherhood between the two countries and neighbors again?
- I am sure, and we must to establish a fraternal relationship between the two brothers after they have damaged the dictatorship and his men went to those who are wreaking havoc in Iraq, and now it is very important to focus on building this relationship through the opening all the files and without hesitation and the settlement of all outstanding issues between the two countries towards investment and towards reconstruction and towards cooperation.

When will we see a strong Iraq, economically and what Enqskm to achieve this?
Iraq - the first to suffer from debt, and now we have come more than a 90 percent reduction in its debt of more than 140 billion dollars as I said, and Iraq has a rickety infrastructure and tired and we are rebuilding the infrastructure as possible and I think Iraq will be open when the investment in all areas from the oil sector through the electricity sector and the tourism industry and other sectors where we believe that Iraq will be of great economic revival.

Many talk about the foreign troops would withdraw from Iraq before 2011, what the health of that?
- We have heard the new U.S. president's speech, which announced in the first minutes of his office in broad daylight that the U.S. military would pull out of Iraq and leave the reins of the country and its people have signed the Convention, which confirm that.

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Welcomes the holding of economic talks in Paris for the development of the private sector in Iraq

The economic expert, the Cabinet's last decision to send a government delegation for talks in Paris with the Organization for Economic Cooperation and Development of the United Nations and other international organizations to develop programs to ensure the development of the private sector in Iraq.

Dr. Ali Al-Manie member of the Society of Iraqi economists told the independent press (EYBENS) Thursday on the government to harness the potentials for the development of the private sector in order to give him a role in the reconstruction of Iraq and the development of programs designed to promote the development and confirm the fact of the substantive discussions with the relevant international organizations, plans and programs of privatization.

He said the economic and social developments that we see today must be accompanied by an evolution in the services provided by the private sector to enhance the application of plans and programs to reach an efficient private sector. He said the inefficient allocation of resources does not achieve our goals, therefore, the development and modernization of the private sector as a step to improve the public budget.

The obstacles to stimulate the state of the sector to invest in many areas, leaving the regulatory and supervisory role of the public sector gradually.

And the improvement of services is one of the components of the development of the public sector, it is obligatory to pay a higher rate of progress of development in cooperation with all state agencies.

The high-level government delegation will be talks on Thursday in Paris with the Organization for Economic Cooperation and Development of the United Nations and other international organizations on private sector development programs in Iraq.

The government statement said the delegation, headed by the Secretary-General of the Council of Minister Ali Mohsen Ismail, will continue his talks with international organizations until early next week in order to develop programs designed to promote the development by the private sector in the country.

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Obama ordered to draw up plans for withdrawal from Iraq

U.S. President met with the new Barack Obama with military commanders and national security advisers to discuss the conflicts in Afghanistan and Iraq.

Obama asked during the meeting of leaders of military planning for the implementation of the additional military withdrawal from Iraq right.

Obama said the meeting was productive and that Ciecaor military commanders at the Pentagon during the coming days and weeks for further discussions on these issues.

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Director-General of the Investment Authority in Babel Radio Dijla: a call for economic corporations

The General Authority for Investment in Babil province, a symposium on the invitation of economic corporations and banks to invest in the province.

The director said the Investment Authority in Babel Alaa spear in an interview with Radio Dijla body that sought to move in all directions and trends, which will ensure that appropriate investment environment in the province.

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