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

MP's calling for the adoption of the Oil Law

Abdul Hadi criticized Attorney Hassani, the lack of unified control of the contracts called for the consolidation of the oil contracts concluded by the central government in Baghdad and the Kurdistan Regional Government As the difference in standards and caused prices to reverse the restrictions and public money.

Abdul Hadi al-Hassani, Vice Chairman of the Commission on oil and gas in the parliament that the "lack of coordination in the signing of oil contracts between the central government and the Territory Government will give an opportunity for international companies to impose conditions and to obtain significant concessions," adding that the oil contracts signed by Kurds with a number of international companies " will lead to waste of public money in Iraq, and damage in economic terms."

The Iraqi government has announced its rejection of the oil contracts signed by the Kurdish government in northern Iraq with international companies, owing to a lack of knowledge of the way, which was signed on such contracts. ABOLHASSANI added that a number of Council members House "Badrj called the law of oil and gas on the agenda of the Council for first reading and to identify the items," unlikely to "be ratified by the legislature in this chapter.

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Investment Law No. 13 / 2006 and the opportunities for the private sector

We have formed the National Authority for investment under the Investment Law No. 13 of 2006 in the month of November of 2007 and certainly, the establishment of the body and its role for the later Investment in the establishment of bodies in the provinces is the most outstanding work in order to activate the investment law, in addition to the body to form a single-window service to facilitate the procedures for investors, as well as a system of investment law, which is now before the State Consultative Council also held a series of agreements with some international organizations in order to access to technical support and provide training opportunities for personnel of the departments and bodies. that act to activate the investment law is one of the most important foundations for building the investment climate has been done through a package of measures was highlighted in work on the formation of the investment in all the provinces, which specializes in the strategic projects, however, maintaining While the national body responsible for strategic investment projects in all parts of Iraq as well as, the body is now working to set up a database and statistics covering all economic sectors as well as working to develop an investment strategy of the Iraqi economy determine the courses of action for the coming years the investment on the basis of scientific accuracy, and coordination has been with the Ministry of Finance on the implementation of the investment by ensuring that Iraq's membership in the International Foundation to ensure that investment - the World Bank (MIGA), signed in 2007 and the body is working to publicize the investment environment through direct contact with several international institutions concerned with investment promotion, which is highlighted in the Union International Investment Promotion Agencies (WAIPA).

Has provided the investment law No. 13 of 2006 in support of a major private sector projects and mixed through a range of benefits, guarantees and exemptions provided for in Articles (10), (11), (12), (13), (15), (16), ( 17) of the Act, which is the main content:

1. Get the freedom of capital introduced by the investor to Iraq and proceeds in accordance with the provisions of the law and instructed the Central Bank of Iraq and currency convertibility.

2nd Trading in the stock market, bonds and the composition of investment portfolios.

3rd Rental of land for the project or Almsatahp for the period in which the investment project, based on no more than 50 years, renewable for consent of the National Authority for investment.

4th Non-seizure or nationalization of the investment project covered by the provisions of this law in whole or in part except as a court ruling is right.

5th Any amendment to this law had no retroactive effect, without prejudice to the guarantees, exemptions and rights established under it.

6th The project has made to leave from the investment are exempted from taxes and duties for a period of ten years from the date of commencement of commercial operation according to the areas of development.

7th National Authority for investment to increase the number of years of exemption from taxes and fees are commensurate with the increase in the proportion of extreme investor participation in the Iraqi project to up to 15 years if the investor a percentage of Iraq's more than 50%.

8th Exemption of imported assets for purposes of the project investment fees that are made to Iraq during the three years from the date of the granting of leave investment.

9th Shall parts imported for the project from the fees that do not exceed the value of these items on 20% of the value of the purchase of assets.

10th Grant projects of hotels and tourist establishments, hospitals and health institutions, rehabilitation centers, educational institutions and scientific Additional exemptions from import duties on furniture, furnishings and supplies for the purposes of modernization once every four years.

In spite of all the benefits and guarantees provided by the Investment Law in force, but he gives as well as the advantages of existing projects and working with perhaps the problems of financing or marketing problems, especially in light of openness of trade and dumping in the case of the Iraqi economy and Iraq by the investor can take advantage of those materials, as the following:

Article (32) (the provisions of this Act shall apply to the mixed sector enterprises and the private sector and the existing workforce at the request of management and without the approval of the retroactive effect), indicating the possibility to use existing private sector companies, not only new projects, but it is surprising that the commission had not established receive any request in this regard by the existing projects and working in the private sector and perhaps demonstrates the lack of awareness of the private sector the importance of this issue.

Article (15), paragraph (III) (National Authority for investment to increase the number of years of exemption from taxes and duties commensurate with the increase in direct proportion of the Iraqi investor participation in the project to reach fifteen years if the proportion of the Iraqi investor partnership in the project more than (50% ), that this article gives greater impetus to foreign investors to participate with the investor and the Iraqi therefore can get the biggest exemptions of up to five years, as noted above article, which could be beneficial to the Iraqi economy in general and the private sector, specifically through the use of the funding capacity of the high to foreign investors and technological development Iatamdoonh and act in accordance with what is known (the economies of scale or volume), which has a high potential for competition, however, that the activation of the investment theme of partnership requires a great deal of coordination between the national body for investment on the one hand and representatives of the private sector and mixed with the other hand, regard to the presentation of existing projects to the private and co-investment opportunities to attract investors to the Iraqis and foreigners working in Iraq, noting that this is the safest way in solving the problems of competition and funding constraints which are the main work of the private sector are not particularly good with Iraq's accession to the World Trade Organization, which does not allow protection program and financing schedule for the open conflict with the requirements of market economy and liberalization of trade, which the organization is working to achieve them.

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Economic official: Iraqi ministries, & a panel of experts to carry out economic reforms in Iraq

Economic Kurdish official disclosed that a number of Iraqi ministries set up a team of specialists and experts, economists and administrators to work on economic reforms and private sector development in Iraq, with the support of the international economic organization.

The director of investments Dohuk province, Bakhtiyar Amin, in an interview with "Uzmatik", on Thursday, said that "a team of economic experts and administrators of the Ministries of Finance and Planning, Industry and Labor, Social Affairs and the National Authority for investment, and the Federation of Iraqi businessmen, and a representative of the Kurdistan Regional Government was formed in Paris the end of last month. "

The Secretary pointed out that "the team will work to perform his duties in Iraq and in coordination with the Iraqi government to carry out economic reforms, and strengthening the role of the private sector", he said, adding that "the OECD will provide economic advice and consultancy group."

The Bakhtiyar Amin, a representative part of the Government of the Kurdistan region of Iraq within the Iraqi delegation at an international conference held in Paris last month, with the support of the UNDP Organization of the United Nations and the OECD economic participation of a number of countries and organizations, experts and analysts, to discuss economic reforms and strengthening the private sector in Iraq , on the recommendations of the Conference in a panel of experts to undertake economic reforms in Iraq.

The OECD is one of the international organizations founded 1948, and headquartered in France, working in the field studies and economic research and contribute to assisting States in the economic reforms and development programs, and from about 30 countries to its membership.

And the Investment Manager in the province of Dohuk that "one of the priorities of the work of the Panel to reconsider the Iraqi investment law, reform of laws relating to private sector activity, the study of barriers to investment and to address the administrative and financial corruption in Iraq," adding that "The team is awaiting approval from the Iraqi government to begin its work in Iraq."

He pointed out that the "Revitalization of the private sector's role in Iraq need to be safeguards and legal amendments and the government support to encourage investors and owners of capital to contribute to the implementation of projects and attract foreign investment to Iraq, as well as to create a climate of political and economic security and a stable, tackle corruption and other things that contribute to the support the private sector. "

The Iraqi government has invited several Arab and foreign countries to invest in Iraq, and organized conferences in the Arab and foreign countries during the past year 2008 in order to present investment opportunities in the areas of oil extraction, the construction of residential and railways and the establishment of laboratories and factories, hotels and tourist facilities in Baghdad and other governorates, , according to economic experts, Iraq is still dependent on the central system and that the State contribute to the more than 66% of fixed capital, while the private sector rose by only 4% of it.

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Parliament begins hearing the president's choice

Parliament began meeting Thursday, devoted to choosing a speaker, with the Deputy of the Kurdistan Alliance bloc, that the meeting of the presidency with the leaders of parliamentary blocs and the committee responsible for selecting the President came out to vote three recommendations at the hearing.

Today's meeting is devoted to the selection of the Chairman of the House of Representatives to succeed outgoing President Mahmoud al-Mashhadani, as well as the first reading of a bill to repeal the decision No. 340 for the year 1987.

The deputy, Anwar Ahmed made it clear to the Agency (Voices of Iraq) that "the meeting of the presidency with the leaders of parliamentary blocs and the committee responsible for selecting the President came out with three proposals will be voted upon at a meeting today (Thursday)."

Anwar added that the proposals include "a date to vote for the president and to determine whether the voting mechanism will be a tour or two rounds as well as the connection will be made without the approval of the budget and to the existence of the parliament, or wait until after the selection of the President."

The other hand, a source in the House of Representatives that the first vice president, Khaled al-Attiya, "announced the start of the meeting after a quorum and the response by the Federal Court noted that the legitimacy of the meetings, which must assume the functions of the first vice president until a new election."

The source added that "the Federal Court, which responded to the inquiry sent by the Presidency on the possibility of holding meetings of legal until a new president of the Council, has been reported that the functions of the First Vice President until the election of a new president."

The source pointed out that the Federal Court made it clear that he "can not comment or disrupt the meetings, Al Attiyah has therefore closed the open meeting thirty-eighth session, and the start of the thirty-ninth meeting to discuss the selection of the President of the Council."

For his part, MP for the Kurdistan Islamic Union bloc Atrushi Sammy's parliament voted on the selection of the Speaker of the Parliament according to two meetings.

Atrushi added that the meeting will be the first "Today (Thursday) will be a session during which the names of candidates for the post, and will choose two candidates receiving the highest number of votes."

Atrushi said that "the final liquidation will be next Saturday, which will be elected from among the candidates Monday, on the condition that the winner receives a minimum of 138 votes."

He Atrushi that "Attiyah pointed out that the Federal Court had recognized that they could approve the budget without requiring the presence of the president."

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Dr. Rafie al-Issawi to meet the President of the French oil company Total

Dr. Rafie al-Issawi, received in his office today, Mr. Yves Louis Daricarrer Director General of French oil company Total.

He briefed the Deputy Prime Minister on the progress of plans and procedures that the company aimed to take in the areas of exploration and development of oil fields.

In addition to expand the framework of cooperation in the fields of oil industry and ways of benefiting from the expertise of the French and the training of local cadres and the opening of new horizons that would increase the chances of the oil investment in Iraq.

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Source: higher oil exports from Iraq's northern oilfields to more than half a million barrels a day

A source at the North Oil Company, on Thursday, that the process of pumping oil from the northern Kirkuk oilfields to the Turkish port of Ceyhan has increased during this month and is stable at more than half a million barrels a day.

The source explained in an interview with "Uzmatik", that "the process of pumping oil from the Kirkuk oilfields to the Turkish port of Ceyhan has increased since the beginning of the current month of February," noting that "technical and engineering teams were able to raise the export capacity of crude oil from the Kirkuk oilfields to the port Ceyhan, Turkey to more than 500 thousand barrels per day after that the rates of export from last month between 400 to 430 thousand barrels a day. "

He noted the source, who spoke on condition of anonymity that "the stability of Iraqi exports through the Kirkuk fields caused by the stability of electricity, which contributes to the sustainability of the continued pumping periodically and provide a rate of one flow through the export pipelines."

Iraq has issued approximately 450 barrels per day through the fields north of Kirkuk, 260 km north of Baghdad, to the Turkish port of Ceyhan, a million and a half million barrels through the ports of Basra overlooking the Arabian Gulf.

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Ubaidi: the case of the Speaker will not be resolved today

Rep. of the Iraqi Accordance Front, said Harith al-Obeidi, the House of Representatives will meet today to lay the foundation for the right to choose a president of the Council.

Obeidi said in a telephone conversation with the agency and the independent press (Iba) today, Thursday: "The Council did not settle the issue of choosing the head of the House of Representatives today, it needs to be several meetings on this matter."

He pointed out that "the office of President of the Parliament of the right front, and not to the right of the other blocs," he said.

Obeidi said that the parliamentary sessions, which are being held, in the survival of vacant office of President of the Parliament "is a special meeting to pass a law on a particular topic if this is necessary, because the President of the Council is the core of the nerve to take the House of Representatives of the decisions."

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Minister of Electricity & discuss with the Director of the World Bank behind work of one of the Russian companies

Research and Minister of Electricity Karim Wahid Hassan at his office at the Ministry's headquarters on Thursday morning with (Jean-Michel WAHBI) Branch Director of the World Bank in the region include the rehabilitation and motorcycles Hdtien 2 × 200-watt station Mika Hartha and the reluctance of the company (Tknobrom Export) Russia in the implementation of the contract.

The Director of Media Ministry Aziz Sultan told the independent press (Iba) today: "The assignment was approved by the World Bank as the amount covered by the contract through a loan extended by the World Bank and the Ministry of Electricity.

He said: "The ministry will be a final warning to the company's warning in the absence of Alamttthal and speed up the signing of the contract and direct the work assignment will be revoked.

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President of Federation of importers of region to shed light on the Radio Dijla their Las Vegas show

The Head of the Federation of importers and exporters in the territory of Iraqi Kurdistan, Mustafa Abdul Rahman highlighted the Union's involvement in Las Vegas and the economic conference in Washington, which was held at the beginning of this year.

This comes at a press conference held by Abdel-Rahman in Sulaimaniyah in the Union Building.

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Central to the decline in the sales of 133 million dollars

the U.S. dollar decreased sales of the Central Bank in an auction for the sale and purchase of foreign currency, on Thursday, to 133 million and 530 thousand dollars compared to the previous meeting and a stable exchange rate was 1170 dinars per dollar.

The bulletin issued by the Central Bank and the Agency has received (Voices of Iraq) a copy of which was that "the total volume of demand for the dollar stood at 133 million and 530 thousand dollars, a stable exchange rate was 1170 dinars per dollar."

The figure is a decrease from the previous meeting, which recorded total volume of demand for the dollar stood at 195 million and 690 thousand dollars at the exchange rate was 1170 dinars per dollar.

The Bulletin that "the demand for the dollar is distributed by 38 million and 430 thousand dollars in cash, covered by the bank at the exchange rate was 1176 dinars per dollar, including the central bank and a commission of six dinars per dollar."

According to the bulletin, "the value of remittances outside the country reached 95 million and 100 thousand dollars, covered the central exchange rate was 1173 dinars, including the central bank and a commission of three dinars per dollar," did not make any of the 17 banks participating in the auction, offers to sell the dollar.

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