Mawazine News – Baghdad
Prime Minister Mohammed Shia al-Sudani participated in a dialogue session held in New York after midnight on Wednesday, by the American Chamber of Commerce and Al-Monitor, in the presence of an elite group of investors, businessmen, representatives of American companies, and the Iraqi-American Business Council.
During the session, His Excellency pointed to the new reality of Iraq, which is witnessing an economic and developmental renaissance in all its sectors, and has also taken great strides in the field of energy investment and associated gas, which had been wasted for years and cost the country losses estimated at billions of dollars, due to the import of gas and oil derivatives.
Mr. Al-Sudani stressed that the government has embarked on a series of rapid projects, including the important agreement with Total, which will contribute to increasing oil production and investment in associated gas by about (600) million standard cubic feet, in addition to offering the fifth and sixth rounds appendix, and entering into contracts for oil production and gas investment, indicating that after 2028, Iraq will achieve self-sufficiency in gas, in addition to activating oil derivatives projects, including the strategic Karbala refinery, whose production capacity reaches 140 thousand barrels per day, as well as rehabilitating the Baiji refinery, which was completely destroyed during the battles to liberate Baiji, and its production capacity is 150 thousand barrels per day.
The following are the most prominent points made by the Prime Minister during the dialogue session:
– When I assumed my duties as head of the government, the investment in associated gas was less than 40 percent, and now the percentage has risen to about 70 percent.
– We have finished importing oil derivatives, and we will stop importing gasoline at the beginning of next year, after completing the FCC project in Basra.
– We are ready to enter into a partnership with American companies in the oil industry sector.
– Our vision is to convert 40% of exported oil into transformation industries, which will give us more benefits than selling crude oil.
– Our policy is based on diversifying the contracting parties that invest in our oil and gas fields without specific conditions.
– The licensing round procedures are clear and transparent and do not favor or favor one company over another.
– Development cannot be achieved without a solid banking sector that operates according to approved international standards, and 95% of financial transfers in Iraqi trade are conducted through reliable banks.
– The currency sales window will be closed at the end of this year, and the money laundering office at the Central Bank is operating effectively.
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The government has contracted with Ernst & Young to reform the government banking sector, and we have strengthened citizens’ confidence in banks and expanded financial inclusion.
– Iraq is currently going through an unprecedented stage of stability and recovery since 2003, which is an opportunity to support the transition from a stage of wars and conflicts to a stage of development and stability.
– A stable Iraq in a sensitive region is beneficial to the world, which is what we have witnessed since October 7, as Iraq has maintained a great balance and calm, and we have kept Iraq away from the arena of conflict.
/ Our security forces have reached an advanced stage of capability and efficiency, and we have started an armament program to enhance their capabilities, and ISIS today does not represent a threat to our security.
– We need American small and medium-sized companies to form partnerships with Iraqi companies.
– We are working to create job opportunities for young people by activating the private sector or supporting their private projects, through several programs, including the (Riyada) initiative.
– The size of the projects granted for investment will provide a large number of jobs, and it is necessary for companies operating in Iraq to open training centers to develop the capabilities of young people.
– We stressed to companies operating in the electricity sector the establishment of stations maintenance centers in order to speed up completion and reduce costs.
– The government has a clear direction to support the agricultural sector, and farmers and farmers are in a transitional phase to use modern irrigation technologies that we supported by 30%.
– We provided loans to workers in the food industries sector of various types, part of which is covered by sovereign guarantees.
– The Central Bank has independence and exercises its powers with complete professionalism, and we intend to establish a new bank that adopts the latest technologies.
– We invite all companies operating in the field of electronic payment to work in Iraq and we will provide them with all facilities.
– We have developed a plan to develop the infrastructure, with allocations of up to 83 billion dollars.
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