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

UNDP: foreign investment in Iraq will not be trusted without a strong private sector

The Director of the United Nations Development Program in Baghdad Simona Marinescu that the foreign investor will have confidence to invest in Iraq, unless there is an Iraqi private sector and a strong local firm operating within the country.

Marinescu said in an intervention during the presence of a symposium held by the Investment Authority in Baghdad, (Saturday), the foreign investor will have confidence to invest in Iraq unless there is a strong domestic private sector operating in the country, considering that there are significant investment opportunities are currently in Iraq, thanks to the encouragement the central government general renaissance of the state.

The National Authority for Astosmarakdt, Saturday, Special symposium with businessmen to discuss investment law in Iraq and the obstacles facing the private sector, which last for one day under the title (the cornerstone of the Iraqi private sector investment is essential to success in Iraq) for a period of one day.

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The Ministry of Oil has a symposium on the petroleum industry in Iraq

The Ministry said on Saturday in Baghdad's Rashid Hotel, a symposium on the petroleum industry in Iraq in cooperation with the Iraqi Center for economic reform.

Statement of the Ministry of Oil said that the symposium will be attended by Oil Minister Hussain al-Shahristani, a number of officials in the Ministry and oil experts will discuss the necessary legislation for the development of the oil industry.

The statement added that the symposium will address the identification of the technical aspects necessary for the oil industry, and the role of private sector domestic and foreign, and methods of financing for oil investment, and regulatory aspects and administrative and operational requirements.

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Zubeidi discuss with the British Ambassador, economic and financial relations

Search Finance Minister Baqir Jabr Zubaidi with the Ambassador of the United Kingdom in Baghdad, Christopher Prentice bilateral relations between the two countries and ways of strengthening the economic and financial fields.

A statement by the Ministry of Finance has received a copy of the Tigris Radio that during the meeting to discuss the budget in 2009 and calculated on the basis of how the price of a barrel of oil at 50 dollars and the rate on the export of two million barrels.

The statement pointed out that the Ministry of Finance budget was completed and sent to the Council of Ministers, which in turn send it to the House of Representatives for approval.

It pointed out that the two sides discussed the results of the International Conference of the Iraqi banks that have opened up new prospects for Iraq to global cooperation in the development of banks and contribute to the large investment in the campaign.

The statement said Zubaidi Mest British company that oversees the development of the Rafidain Bank through the use of the overall system, which reached the completion rate of 40 to 45%.

Zubeidi and this is an indication that the process of significant progress in the Rafidain Bank, which would enable it to connect more than 150 branches of its branches in and outside Iraq, which will facilitate the process of banking dealings with citizens and investors.

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Economists warn of corruption and waste opportunities

Dr. Salama said Smeisim to the provincial team to work to improve the economic reality in light of the new local governments, warning against falling into the mistakes of the past if the government did not invest these files represent the economic, as she put it.

Smeisim explained in a press statement that "local governments to come from the files of interest to many sensitive and important aspects of reconstruction and investment and move the wheel of the economy to gain the confidence of the Iraqi voters, as they would relate to important files and the files are very sensitive reconstruction and investment and financial allocations to the provinces, and the larger the file and the file is the most serious federal, must be improved, otherwise there will be a major disaster, is no exaggeration to say that it will reflect the results of poor function of the disruption of production, will revert things upside down and the Iraqi citizens will lose confidence in any possible authority be governed by, and also reflected on the coming parliamentary elections."

For his part, called the Economic Hissam Acommok to the need to reconsider the role of national industries to support the Iraqi economy as well as to develop effective solutions to combat financial and administrative corruption.

The Acommok to now there has been any glimmer of hope in dealing with the administrative and financial corruption, on the other hand, we are heading in the accounts of the current crisis is the ability of allocations to meet the current economic reality."

This stresses the economic organizations that Iraqi and international foot-dragging in the implementation of the majority of reconstruction projects and investment of the former provincial assemblies due to the administrative and financial corruption as well as the lack of coordination between local governments and the central government.

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Is the smart card to address the problem of recognizing the salary?

Still many of the retirees and covered by the smart card are facing great difficulties and complex during the receipt of their salaries .. Momentum because of the large banks at all .. Where many of them waiting for several days until the receipt of salary ..Especially those who paid the salaries of social protection network. Citizens are demanding obsolete facilitate receipt of the monthly salary does not prolong the waiting times .. Taking advantage of the smart card system, which was adopted recently ..

The Director-General of the Bank of Iraq Abdul-Hussein Abdul-Azim: work during the current year since the first quarter of 2009 the adoption of sophisticated banking systems », and that the development of banks in any country is one of the pillars of attracting investment, particularly foreign investors first ask for the security and the development banks in the countries that they invest in it ..

The introduction of smart cards has begun in Baghdad since the end of last year 2008 ... Efforts are continuing to test this system in Karbala and a number of provinces of the Middle Euphrates, but added that the introduction of smart card needs to create the necessary requirements for being a need for some time before it becomes an active and using on a large scale. Promising the Iraqi banks adopt smart-card system and the overall system by next year. And the overall system in Iraqi banks and provided a great service to the users of the banks said that this system will link the Iraqi banks with banks in the world and allows the transfer of funds very quickly », pointing out that« the Iraqi banks in the current reality and the old and lacks a lot.

Iraqi banks, calling it a dilapidated buildings and staff and cut off from the world without modern communication devices because of the policies of the former regime .. Pointing out that the efforts described Balgesitp from the Ministry of Finance for the development of the reality of Iraqi banks. Rafidain Bank and seeks to develop the horizontal and vertical in the banking services through the introduction of advanced technology banking as a whole. These techniques include smart-card system and the overall system and the system of payments », predicted that the« Iraqi citizens will be pleased a lot of these steps »of the opinion that it will ease and comfort him and give him a large proportion of safety and protects him from manipulation of vulnerable people ... And retirees covered by the social protection network will benefit greatly from the development of the performance of Iraqi banks by adopting the smart card ..

Ali Qassim, a beneficiary of the social protection network, he said: "We need a system to guarantee the smooth flow of recognizing our salaries .. For when we come to the place of receipt of the salary to find large numbers of people are rushing to reach the outlet distribution. And sometimes accompanied by a number of congestion problems .. Within the queue ..We actually need a new system adopted by the Iraqi banks to ensure ease of receipt of salaries and get us out of the suffering of receipt of an adverse effect on the psyche at a time .. hopefully find us better than the smart card system and reported in the media about their role in the absorption of the momentum on the banks and distribution outlets salaries of other ..

The officer Ahmed Mahmoud told us in one of the banks, saying: the distribution of pensions and salaries covered by the social welfare of displaced persons, as well as confused the work of many Iraqi banks and their employees and has caused an imbalance in their work .. To the presence of a great deal of pressure on the banks of the long queues during the day throughout the day over a month .. But the smart-card system would be an appropriate solution to these problems and we hope to begin actual work in this system, all banks will soon .. Because the employee at the bank has always come out the end with a great fatigue and fatigue .. Which has a negative impact on the reality of psychological and social life.

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President Massud Barzani: Kurdistan region is a safe haven

Kurdistan Region President Massud Barzani during his meetings with senior officials in Kuwait called for carrying out more investment projects by both Kuwaiti private and public sectors in the Kurdistan Region , indicating that the Kurdistan region is a safe haven that can grasp these investments, Kuwait News Agency- KUNA- reported.

Barzani said in press a conference following his visit to the the National Assembly of Kuwait, known as the Majlis Al-Umma ("House of the Nation") that his talks with senior Kuwaiti officials was about bilateral relations between Iraq and Kuwait in general and Kuwait and the Kurdistan region in general, indicating the political and the financial support which Kuwait offers to the Kurdistan region.

http://pukmedia.com/english/index.ph...=9179&Itemid=1

Parliament void delays laws ratification

Some Iraq lawmakers affirmed that delaying the ratification of a number of laws including constitutional amendments and political reform pact is due to the delay of Parliament speaker election. Amendments committee members clarified that reaching final agreement on pending issues in the Constitution might be delayed until the next parliamentarian round. Other politicians say that the ambiguity in some provisions of the political reform pact is the cause of delay in its implementation.

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Iraq plans to build a floating oil port in the Gulf, the capacity of 1.5 million b / j, and in 2009 will be a difficult year in economic terms
Iraq's Oil Minister Hussain al-Shahristani said on Saturday that Iraq plans to build a floating oil port in the Gulf with a capacity of 1.5 million barrels a day as part of efforts to increase production to more than a lesbian by the year 2018.

Shahristani said that Iraq wants to complete the port as soon as possible, but gave no further details. It was also to be building a new port in Basra, the country's main port on the Gulf and the operation of the export pipeline through Syrian territory.

He said Iraqi Oil Minister Hussain al-Shahristani said on Saturday that OPEC would probably reduce oil production targets when it meets in March, which will help to return prices to rise gradually to a level above $ 70 a barrel.

He added that he would ask for new powers allowing officials to sign oil deals without the consent of the Iraqi Council of Ministers, in an attempt to revive the sagging production. He blamed the slow pace of the proceedings and approve the budget in the disruption of efforts to promote production in Iraq.

Al-Shahristani told a conference of oil industry in Baghdad that the year 2009 will be a difficult year in economic terms and said that the intention is to agree on a new cut to OPEC production in March in order to support prices.

And Iraq, one of the founding members of the organization and has the third-largest oil reserves in the world but a non-binding production quotas, OPEC is facing difficulties in maintaining production levels due to dilapidated infrastructure.

He expected the return of al-Shahristani, to the level of crude prices above $ 70 a barrel, but added that this will not happen in the coming months and will be gradual.

Shahristani said he hoped to accelerate the pace of rebuilding the Iraqi oil sector by establishing a national oil company can enter into agreements without waiting for approval by the Council of Ministers, which entails the process of political decision-making strenuous efforts in the country.

He said the red tape hampering the import of oil equipment stuck in the port and the slow process of approval of the budget delay the much-needed investment.

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Expert in affairs of banks: Promotion of investment banking services effectively requires a global

Azri said Hussein the Iraqi director general of the Bank need to develop the banking sector in Iraq and the potential to make our banks operating worldwide ..He said in an interview for the (morning): Today we need to develop mechanisms for the work of Iraqi banks And opening the doors to foreign investors and Iraqis.

At a time that Iraq is on the verge of a phase of massive investment in the oil, especially in light of the current global financial and banking services to poor and an obstacle in front of businessmen and foreign investors, because they need the services of global banking, developed and if this was available today, adding that the budget to implement the investment rates large compared with previous years.

Which leads us to the necessity of activating the banking services, although it needs to be government legislation governing the banking business ..Azri continued by saying: that because of the popularity of industrial exhibitions held in Iraq by the leading investment companies in the world shows the need to examine all of the reality of local banking services, because these companies need a bank guarantee to start work and attendance for the implementation of projects within Iraq.

Meanwhile, Reza Ragheb Blibl President of the Federation of Iraqi businessmen: Iraq is on the verge of a phase of significant investment in the All-sectors that suffer the most Thalka Mphasalha ..Investment companies, contractors and businessmen, as well as delegations, which are intended for the country during the coming period will be needed to essential services in several different areas such as telecommunications and banking services in addition to the security side, we need to develop banking services and linking them to the world through the channels of communication based on solid bridges of mutual trust for the person believes Company and the mobility of capital and access to serve the needs of the newcomer, because this important issue can benefit from the tourism sector, particularly that Iraq is a future development phase of the sectors of tourism, receiving the largest number of entrants from around the world, and this work needs to develop the Iraqi banking introduction banking systems, the nodes of a global banking work enables tourists to obtain funds from any Iraqi bank.

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Official went to deal with all government legislation, which restricts investment in Iraq

Chairman of the Investment Authority said Thamir Ghadhban said the agency has sought to address all legislation that would limit investment in Iraq, displaying a lack of coordination with the British to organize a conference to encourage investment in Iraq.

Ghadhban said in an interview with "Uzmatik", on Sunday, that "there are complaints from investors and the private sector and investment in the provinces, on the problem of providing the land because of some old laws that still exist in the investment law," pointing to "the pursuit of the National Investment to address some of the laws and legislation that restrict the work of the investor and investment in Iraq. "

Ghadhban said that "despite some observations on the law of investment, but it contains many good features and facilities to investors such as tax-exempt and the leasing of land for long periods of time up to 20 years, as well as guarantees to transfer the entire capital invested and the profits abroad in hard currency."

The MP said the high Nasseef for "Uzmatik" that "the investment law is one of the most important laws of the legislation of the House of Representatives, but he did not do due to several problems, including the recent formation of the investment, as well as the recent change of Chairman and non-complement the skills of this body has the capacity to management of the enterprise. "

The other hand, Head of National Authority for Investment "and coordination with States to launch an investment conference at the level of the Iraqi state, including the investment in the UK end of the month of April next, will be attended by Iraqi Prime Minister Nuri al-Maliki and the United Kingdom, Gordon Brown, as well as a number of British companies and European and Arab and Iraqi ".

Ghadhban stressed that "this conference will follow an investment conference in a number of other countries, he said, adding that the goal is to" define the law of investment companies and to invite new investment in Iraq in light of security and stability, "he said.

Is noteworthy that the Iraqi parliament approved in the month, October of 2006, the Iraqi investment law that was said by the time it would open the door to foreign investment by introducing a lot of facilities to foreign investors, many foreign companies are still hesitant because of security fears to reality instability in Iraq, in addition to that the law does not give investors the right to private property ownership of the project., because the law on investment equal to the Iraqi investors and foreign all the privileges, except تملک property, as the foreign investor یمکن of the ground lease for 50 years, renewable, According to paragraph 11 of the Investment Law.

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