Thread: Iraq/Dinar News. 09/05 to 01/14/07

Love to see that the Iraqi citizens are turning people in. That's what they need. To know that the bad guys are not going to be protected anymore!

Posted by: nadioshka on Thursday, July 27, 2006 - 06:33 PM
Abbadi-Investment
Investors welcome to open up shop in safe areas in Iraq – MP
Baghdad, July 27, (VOI) – An Iraqi parliamentary committee has drawn up a list of safe areas across the country where investors can start their projects, a Unified Iraqi Coalition (UIC) legislator said on Thursday.
“The government will protect these projects and the investors,” Haidar al-Abbadi told a news conference in Baghdad referring to the parliamentary committee for the economy and reconstruction.
“The cabinet alone will shoulder responsibility for all (security) violations in these areas as part of a security plan devised by the committee,” he added.
Incentives offered to investors will include a one-stop shop where they can handle their applications.
“An investor will only deal with one department which is the investment department,” Abbadi said, adding that this would help prevent corruption.
The parliament had been due to discuss a new investment law on Thursday but explosions in the Karadah district prevented the discussion, he said, explaining that the house went through an initial reading of the draft on Wednesday.

Amman, July 27 (Petra) -- The Jordanian and Iraqi sides on Thursday held talks on ways of enhancing the joint cooperation between Jordan and Iraq.

Talks were attended by deputy prime minister and minister of finance, ministers of energy and mineral resources, industry and commerce, planning and international cooperation, political development and parliamentary affairs and government spokesman. As for the Iraqi side ministers of oil, electricity, planning, commerce and human rights attended the meeting.

The two sides discussed ways of enhancing the existing cooperation relations, especially in energy, transportation and security.

The Iraqi side expressed desire to benefit from the Jordanian expertise in attracting investments, preparing commercial and economic laws, in addition to the Jordanian expertise in the e-government domain.

Source: United Nations (UN)

Date: 27 Jul 2006
Print Print Email E-mail Save to My ReliefWeb Save
United Nations, Iraq jointly announce launch of five-year International Compact aimed at achieving national vision of united, federal, democratic country

IK/552

Following is the joint statement on the launch of an International Compact with Iraq, issued today in New York:

The Government of Iraq and the United Nations announce the formal launch of the International Compact with Iraq. This Compact is an initiative of the Government of Iraq for a new partnership with the international community. The Compact, jointly chaired by the Government of the Republic of Iraq and the United Nations, with the support of the World Bank, will, over the next five years, bring together the international community and multilateral organizations to help Iraq achieve its national vision.

The Government's vision is that, five years from now, Iraq shall be a united, federal and democratic country, at peace with its neighbours and itself, well on its way to sustainable economic self-sufficiency and prosperity and well integrated in its region and the world. Guided by the Millennium Development Goals, the Government will work to meet basic needs, protect the rights of all citizens and ensure the optimal use of the country's resources for the common good.

To achieve this vision, the Government of Iraq has undertaken to make progress on political inclusion and consensus-building, on the rule of law and on the establishment of professional security forces. The Government of Iraq is committed to tackling corruption, creating a transparent and efficient oil sector, developing a solid budgetary framework, improving governance and building and consolidating effective national institutions. The United Nations is committed to support and facilitate the Compact, through its mission and agencies in Iraq and the good offices of the Secretary-General and his representatives.

The Government of Iraq recognizes that good governance and resolution of security and political challenges are prerequisites for progress in all other areas, including economic revival and normalization. It will, therefore, make every effort in the coming period to realize these conditions, with the assistance of regional and international partners, in order to achieve the Compact's primary focus: building a framework for Iraq's economic transformation and integration into the regional and global economy.

In their capacity as co-chairs, the Government of Iraq and the United Nations have appointed an executive committee that will also include the World Bank, the International Monetary Fund and other regional financial institutions, which will manage the process towards the adoption of the Compact and beyond. The Executive Committee will assist the Government to formulate a strategy for economic regeneration and fundamental reforms for integrating Iraq within the regional and global communities.

The co-chairs will also work with a preparatory group of countries and organizations to develop the Compact via a consultative process. This group will provide support, advice and guidance on the Compact. In September, broader consultations with the international community will take place in New York at the next meeting of the United Nations General Assembly, followed by an update to finance ministers at the annual World Bank/International Monetary Fund meeting in Singapore.

It is envisaged that the finalized Compact, including key priorities, benchmarks and commitments, will be presented by the Government of Iraq by the end of 2006. We invite the international community to commit their support to the process that we have begun today and, ultimately, to join as valued partners in the International Compact with Iraq.

http://www.reliefweb.int/library/doc...-irq-27jul.pdf


enjoy :)

Gotta luv this kind of news!

United Nations, Iraq jointly announce launch of five-year international compact aimed at achieving national vision of united, federal, democratic country



IK/552
Following is the joint statement on the launch of an International Compact with Iraq, issued today in New York:
The Government of Iraq and the United Nations announce the formal launch of the International Compact with Iraq. This Compact is an initiative of the Government of Iraq for a new partnership with the international community. The Compact, jointly chaired by the Government of the Republic of Iraq and the United Nations, with the support of the World Bank, will, over the next five years, bring together the international community and multilateral organizations to help Iraq achieve its national vision.
The Government's vision is that, five years from now, Iraq shall be a united, federal and democratic country, at peace with its neighbours and itself, well on its way to sustainable economic self-sufficiency and prosperity and well integrated in its region and the world. Guided by the Millennium Development Goals, the Government will work to meet basic needs, protect the rights of all citizens and ensure the optimal use of the country's resources for the common good.
To achieve this vision, the Government of Iraq has undertaken to make progress on political inclusion and consensus-building, on the rule of law and on the establishment of professional security forces. The Government of Iraq is committed to tackling corruption, creating a transparent and efficient oil sector, developing a solid budgetary framework, improving governance and building and consolidating effective national institutions. The United Nations is committed to support and facilitate the Compact, through its mission and agencies in Iraq and the good offices of the Secretary-General and his representatives.
The Government of Iraq recognizes that good governance and resolution of security and political challenges are prerequisites for progress in all other areas, including economic revival and normalization. It will, therefore, make every effort in the coming period to realize these conditions, with the assistance of regional and international partners, in order to achieve the Compact's primary focus: building a framework for Iraq's economic transformation and integration into the regional and global economy.
In their capacity as co-chairs, the Government of Iraq and the United Nations have appointed an executive committee that will also include the World Bank, the International Monetary Fund and other regional financial institutions, which will manage the process towards the adoption of the Compact and beyond. The Executive Committee will assist the Government to formulate a strategy for economic regeneration and fundamental reforms for integrating Iraq within the regional and global communities.
The co-chairs will also work with a preparatory group of countries and organizations to develop the Compact via a consultative process. This group will provide support, advice and guidance on the Compact. In September, broader consultations with the international community will take place in New York at the next meeting of the United Nations General Assembly, followed by an update to finance ministers at the annual World Bank/International Monetary Fund meeting in Singapore. It is envisaged that the finalized Compact, including key priorities, benchmarks and commitments, will be presented by the Government of Iraq by the end of 2006. We invite the international community to commit their support to the process that we have begun today and, ultimately, to join as valued partners in the International Compact with Iraq.
http://www.reliefweb.int/rw/RWB.NSF/...3?OpenDocument

good stuff CIG and PH....got to be getting closer every day now....keep 'em coming...GO DINARS....Pat

Any stuff you send our way is appreciated PH! :-)

Translation not very good but i post it (arabic to english)

(Voice of Iraq) - 28-07-2006

Concessions is less than the neighboring countries ... Difficulties facing Iraq in the implementation of the foreign investment law and the absence of security and corruption two of the main constraints
Baghdad-Adel Mehdi life-28 / 07 / 06 / /

The head of the Iraqi Center for Development and International Dialogue Mahdi al-Hafiz in a symposium organized by the center in Amman last week on a bill to "foreign investment in Iraq," the importance of foreign investment in the transfer of technology and export development. He pointed out that "Iraq is suffering financial difficulties and economic bottlenecks can be mitigated through foreign investment". But according to the "deliberate controls and priorities correctly" safeguard the national interests and address the economic problems, some of which is due to the legacy of the past, In addition to the new problems, which worsened during the past three years.

He also spoke of Minister of Water Resources Latif Rashid stages of the preparation of the new investment law and the amendments, He added that "there is no room for any investment without the provision of security and stability". Referring to the weak capacities of local government funding and private compared with the needs. Rashid added : "Hence the importance of open space for foreign investments, giving priority to domestic investors".

As Minister of Justice Malik Dohan Al-Hassan, former importance beyond political and sectarian conflicts to encourage investment, While the Consulting Engineering Hisham artillery in the paper of the importance of physical development projects and the introduction of methods and techniques of modern management in the implementation and training Iraqi cadres, Taking into account the inclusion of investment and development, all Iraqi governorates.

The President of the Union of Businessmen in Iraqi Kurdistan Herish pilot role in the preparation of the investment law in the Territory focus on giving preference to Iraqi investors in the form of the year.


Obstacles

The symposium focused discussions on the draft investment law before it does not rise to the challenges facing the Iraqi economy. Privileges granted to the investors a much lower compared with the investment laws in neighboring countries such as Syria, Turkey, Jordan, Egypt and Saudi Arabia to allow foreign ownership of land.

The critical juncture security and the breadth of the phenomenon of corruption and the absence of guarantees for the protection of investment and a lack of transparency in dealing Currently, Labour legislation makes it a modern investment law that takes into account the social and economic reality of the Iraqi and regional and international developments with the need to include in the proposed law incentives rewarding investors. and give a clear role and an important and decisive Iraqi judiciary in the resolution of disputes and not to limit the decision-making of a controversial nature of the executive, This is in addition to the need to address the peculiarities of small and given adequate incentives and appropriate quantity and quality and encourage innovative ways k "business incubators" and "technological incubators" capital "proactive" or "risk".


Petroleum investments

Participated in a series of Iraqi oil experts in the provision of specialized papers on the oil and laws discussed. Farouk denominator expert reviewed some of the policies that must be dealt with returning to the national participation, and the disposition of oil revenues, and coordination between the capital and provinces, and cooperation with international companies and maximizing the contribution of national capacities.

The tests indicate that the legislation "progressive and short and clear is the right way to bring the benefits and avoid conflicts". He proposed "to become the National Oil Company into a holding company with subsidiary companies in the Territories". Regarding funding, he pointed to the weaknesses and strengths for the three alternatives : Self-financing or commercial loans or engage global companies, or a combination thereof. Emphasizing the disposition of oil revenues to protect other sectors rather than total reliance on oil, and the creation of long-term benefits to society in general.

In his paper on the involvement of production agreements, full Almahidi expert said that these agreements are known and worked with many countries such as Libya, Oman, Russia, and finally in Iraqi Kurdistan. But he pointed out that such agreements controversial, There are those who accuses allow companies to reap huge profits from the host countries, while others felt that the best way to develop oil fields quickly can not other types of contracts achieved. The researcher found that : If the price of oil about 40 to 60 dollars per barrel, the "profitability" of oil should be about 3% of production, It is sufficient to achieve the profits of the oil companies global reasonable investments. It was concluded that the partnership agreements are "business" if the adoption of Iraq to avoid the high cost of investment and a desire for rapid development.

Following Tariq Shafiq, research papers above pointing out that the analysis of the simplified figures for the cost of development, production and return on capital clearly indicates a preference absolute method of direct investment from institutions of the Iraqi State itself, emphasizing the importance of focusing on the development of production and reserves, which can be detected through access to 10 million barrels per day, This can only be achieved through a centrally coordinated between regions and provinces, and reversed the fierce competition, at the expense of the optimal production and the achievement of revenue. Supported by the former Minister of Oil Thamer Ghadban, the need to reconsider the structure of the oil sector, a chapter in the form of a clear relationship between the parties. For the purpose of determining the productive capacity must take into account the need of the country's resources and the deterioration of the Iraqi economy, sense of the continuity of dependence on oil revenues for many years, It must be gradual access to high productivity rates.