Wed. 20 Nov. 2024 Wolverine
“I’ve had numerous messages that we are definitely going to have a wonderful, wonderful Christmas and hopefully by tomorrow we’ll have some good news.”
Thursday, November 21, 2024
EXPERTS: FAW PORT IS IRAQ’S GATEWAY TO A GLOBAL ECONOMIC FUTURE , 21 NOV
EXPERTS: FAW PORT IS IRAQ’S GATEWAY TO A GLOBAL ECONOMIC FUTURE
Economic circles agreed on the importance of opening five berths within the Grand Faw Port project, and considered it the first step towards correcting the paths of the Iraqi economy, as the project represents the first step in an ambitious policy to create major infrastructure in the country, serving all sectors without exception, and is an acceptable approach to diversifying the Iraqi economy and providing opportunities for a wide segment. It is hoped that the project will be completed in its three phases in 2028 with a total capacity of 91 million tons annually.
Prime Minister Mohammed Shia al-Sudani, who sponsored the ceremony of receiving the five berths of the Faw Port from the Korean implementing company, described it as “the people’s project,” and that it “gains great importance due to its connection to the development road project, which will link, starting from the Grand Faw Port, the economies of most countries in the region, and will be an outlet for achieving economic integration,” noting that Iraq remains a fundamental pillar in the global economy, and a historical part and passageway of the most important international exchange routes.
THE FIVE PLATFORMS
Al-Sudani pointed out the importance of the five docks in the Grand Faw Port, as they represent the backbone of the port project in its first phase, which will be completed next year according to the previous timetables. Huge commercial ships with large drafts have already docked on the port docks.
REAL TRANSFORMATION
Chairman of the Federation of Chambers of Commerce, Abdul Razzaq Al-Zuhairi, described the opening of the five berths in the Grand Faw Port as a real transformation in the paths of national and global trade.
He said: Today we are facing a launch to serve the national economy, as we have actually begun to revive the Iraqi infrastructure in the ports sector, as this step represents an advancement to the global level of services provided to the national economy.
THE BIGGEST PROJECT
Al-Zuhairi added that the port’s capacity for all its phases exceeds 90 million tons annually, a number that reflects the extent of the work required in this project in particular. When the larger project, the development road and its facilities and the Grand Faw Port, are completed, there will be a need for millions of specialists, and here everyone can imagine the reality of the performance required in such locations.
He pointed out that the country is facing a new phase and new institutions, which are being created with the development of work in this site, which has become global, as it has become the focus of attention of the world’s major economies in the East and West of the world.
STARTING POINT
Economic expert Mitham Al-Bolani confirmed that the starting point of the development path is the port of Faw, which has become a reality in economic life and the first real infrastructure for developing the national economy and has a positive impact on the global economy, especially since the development path is being implemented in an Iraqi-Turkish-Emirati-Qatari partnership, and that the Turkish side, in its first steps, concluded a quadripartite agreement with Hungary, Serbia and Bulgaria with the aim of delivering goods to the farthest parts of the world.
He stressed that the port of Faw represents an important starting point for global trade in various directions, and thus this port has great economic feasibility, especially with the existence of the development road, as the port and the road complement each other, pointing out that Iraq will be a fertile and mature investment destination for manufacturing industries at the present time at the very least and strategically in the future.
GEOGRAPHICAL AREA
It is noteworthy that the member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a statement to the Iraqi News Agency (INA): The opening of the five docks and the completion of the investment in the Faw Port will contribute to supporting the development path, in addition to the fact that it will be part of the Silk Road, indicating that Iraq is located in a geographical area that makes it a link between the major countries, China and Europe.
GLOBAL TRADE
Development Consultant Amer Al-Jawahri said: The Grand Faw Port is the first real step that facilitates the reality of global trade and connects the West of the world to its East by the shortest and least time-consuming routes. It will also enhance the volume of international trade for Iraq with the countries of East Asia, where there is a large volume of trade and achieves fluidity in this aspect.
He pointed out that completing all stages of the Grand Faw Port, as a starting point for the development path, will enhance the reality of the Iraqi economy, and Iraq will be a real attraction point with great and sustainable benefit for Iraq.
EXECUTIVE BODY
He pointed out that Iraq, through this port, will be of new benefit to European countries and the West in general, and they will develop tendencies to invest in Iraq and its regions close to this project.
Al-Jawahiri recommended establishing the executive body for the development road project, of which the Faw Port is an important part, complementary to the new road and railway projects and other projects in more than one economic joint, which is considered a necessity for this project.
MAKE AGREEMENTS
He pointed out the importance of concluding agreements with several countries that have a direct impact on the process of managing the integrated project, starting with the port and the development path with all its institutions.
He stressed the necessity of forming the Faw Economic Zone Authority, which will handle the issues of economic and industrial cities and the technological city, all the way to the tourist city, which is an important part of the region and of great benefit. Here, we stress the necessity of forming institutions and the authority with legislation, so that it will transcend the successive governments that have managed the country.
" I BELIEVE THIS IS THE LAST STEP BEFORE IRAQ PULLS THE TRIGGER" BY CLARE & MARKZ, 21 NOV
Clare
Article: "Iraqi Prime Minister: Tomorrow we will take an important step that has been delayed for years"
Quote: "IraqiPrime Minister Mohammed Shia al-Sudani confirmed that tomorrow, Wednesday, will be an important civilized and developmental step, as the long-awaited general population and housing census will begin after years of delay."
MarkZ
[via PDK]
“Iraq Prime Minister: Tomorrow we will take an important step that has been delayed for years” there has been one heck of a fight to stop this census.
But an accurate census is extremely important.
And they are making it happen so they can pass the HCL. I believe this is the last step before Iraq pulls the trigger.
IRAQ SELECTS 11 COMPANIES TO COMPETE FOR FAW GRAND PORT OPERATION CONTRACT WITH MNT GOAT COMMENTS, 21 NOV
IRAQ SELECTS 11 COMPANIES TO COMPETE FOR FAW GRAND PORT OPERATION CONTRACT
Shafaq News / The Director General of the General Company for Iraqi Ports, Farhan Al-Fartousi, revealed today, Tuesday, that a shortlist of 11 shipping companies has been drawn up to compete for the contract to operate the Grand Faw Port.
A decision on the winners is expected in January 2025, Reuters reported.
The shortlist includes prominent companies such as China Merchants Port Group, Taiwanese container shipping company Evergreen, French container and freight company CMA-CGM, Mediterranean Shipping Company (MSC), India’s Adani, International Container Terminal Services (based in the Philippines), China’s COSCO, and the UAE’s Global Shipping, Al-Fartousi said.
The port is one of the most prominent economic projects that will contribute to supporting the Iraqi economy, as it is expected to provide 150,000 job opportunities.
Last Saturday, November 8, the five berths of the first phase of the project were delivered, with 100% of them completed. These berths are part of the wider project that also includes the navigation channel, the container yard, and the submerged tunnel.
Iraqi Prime Minister Mohammed Shia al-Sudani described the port as a project of the “Iraqi people,” while the Minister of Transport stressed the importance of the port as a pillar of economic growth in Iraq and the region.
The project is expected to generate huge revenues and enhance economic diversification away from oil dependence. The port is also expected to contribute to enhancing trade between Iraq, Asia and Europe, and reflects an important transformation in Iraqi infrastructure.
The project is receiving international attention, as delegations from Turkey and other countries have visited it to see its developments. The first phase of the port is expected to open at the end of 2025, with five of the 99 berths set to begin operation.
TIDBIT FROM FRANK26, 21 NOV
Frank26
Banks now know...That's why they're not saying it's a scam anymore. Instead they tell you if they can help you or not because like I told you, not every bank in America is going to be exchanging...
When I said they're going to bring a Brinks truck to you, of course not. But take away from the concept and replace it with, they're going to bring security to you and they will bring their police officers, their security, their protection, their guns, their locks, their banks, their safes...
EXCHANGE RATES WILL RISE FURTHER.. WARNING OF AN IMMINENT ECONOMIC CRISIS DUE TO THE “COLDNESS” OF THE CENTRAL BANK WITH COMMENTS OF MNT GOAT, 21 NOV
EXCHANGE RATES WILL RISE FURTHER.. WARNING OF AN IMMINENT ECONOMIC CRISIS DUE TO THE “COLDNESS” OF THE CENTRAL BANK
Economic researcher Ziad Al-Hashemi warned of serious economic repercussions as the deadline to stop the dollar platform approaches in six weeks, noting that the Central Bank of Iraq is still dealing with the crisis coldly, which could lead to higher exchange rates and a shortage of imported materials.
Al-Hashemi explained in a post on the X platform that “dollar platform transfers represent about 22% of the total monthly transfers, which is a large number that has not yet been zeroed out, indicating that the continuation of this high percentage and its failure to adapt it to the new correspondent bank transfer system before the specified date may cause major disturbances in the markets.”
He added that “not addressing this issue will lead to some of the remittances going to the parallel market, which will increase the demand for the dollar and raise its exchange rate significantly, which will negatively affect the prices of goods and services in the Iraqi market. He also expected that this will hinder the ability of a large number of traders to import, which will cause a shortage of imported goods and an increase in their prices.”
He pointed out that “the Central Bank seems to be betting on a smooth transition process without problems, but it considered this bet unrealistic in light of the absence of a clear plan to manage the transitional phase.”
Al-Hashemi concluded his warnings by saying, “The Central Bank has only six weeks to act and manage this crisis, otherwise the delay will lead to disastrous results that will cast a shadow over the Iraqi economy by the end of this year.”
(There repercussions of the dollar platform will not happen if the sole peg to the dollar is also repegged away from the dollar and the demand for the dinar by global trading is realized. Many more banks “correspondent” banks will take up the exchange slack and avert any issues. But to do this means getting the reinstatement back to FOREX. Is this the plan? Is this why the remaining 22% does not seem to bother the CBI? Do they know something the author of this article does not know?)
EXPERT EXPLAINS THE ECONOMIC BENEFIT OF THE POPULATION CENSUS, 21 NOV
EXPERT EXPLAINS THE ECONOMIC BENEFIT OF THE POPULATION CENSUS
Today, Sunday, the financial and banking specialist, Mustafa Hantoush, explained the economic benefit to Iraq from conducting the general population census.
Hantoush said in an interview with Al-Maalouma Agency that “the Iraqi state’s funds are scattered and it does not know where to direct them or where to start the development process,” indicating that “the general population census is full of positives and has no negatives.”
He comes added, “There are no higher policies or clear lines to work on, and every country that puts forward its ideas far from the needs of society, and the population census will end this chaos by clarifying a number of important matters.”
He pointed out that “Iraq has clear economic problems in work, housing and diversifying the economy, and the state cannot solve them except by conducting a general population census.
AL-SUDANI AND AL-AMERI: THE CENSUS IS AN ADDITIONAL PILLAR FOR ECONOMIC REFORM PLANS WITH MNT GOAT COMMENTS, 21 NOV
AL-SUDANI AND AL-AMERI: THE CENSUS IS AN ADDITIONAL PILLAR FOR ECONOMIC REFORM PLANS
Prime Minister Mohammed Shia al-Sudani and Secretary-General of the Badr Organization Hadi al-Amiri confirmed on Friday that the success of the general census is an added pillar to the development and economic reform plans.
The Prime Minister’s media office stated in a statement that “Al-Sudani met with Al-Amiri, where during the meeting they discussed all service and national files, and ways to proceed with implementing the government program, especially after completing the constitutional entitlement and choosing the Speaker of the House of Representatives.”
He added that “the two sides discussed the upcoming entitlements, most notably the general population census and the importance of its success to be an added pillar to the development and economic reform plans, in addition to reviewing the regional and international situations, in light of the continued Zionist aggression on Palestine and Lebanon, and international efforts to stop the war and escalation.”
(This is an important part of getting Article 140, which is important to get the Oil and Gas law which is important to get the reinstatement. Its called Stability. Remember stability and security needed for the Project to Delete the Zeros? 😊)
FIREFLY: SOUNDS THAT FINISH THE CENSUS IS TIED WITH LEGAL THINGS THAT NEED BE DONE BEFORE THE CHANGE OF EXCHANGE RATE , 21 NOV
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: The census is for real. Sudani says this is a really really serious census, I want you to participate and he needed us to work with him.
Sounds like it has to be tied in with legal things that need to be done and finished up before the official exchange rate rolls out.
Just what we think here on the streets.
FRANK: After the census I believe things will start to be revealed to you...
ECONOMIST ASSESSES ABOUT OIL DECLINE: IRAQ IS ABLE TO COPE WITH PRICE CHANGES, 21 NOV
ECONOMIST ASSESSES ABOUT OIL DECLINE: IRAQ IS ABLE TO COPE WITH PRICE CHANGES
Economic expert Safwan Qusay confirmed today, Wednesday, that Iraq is able to confront changes in oil prices.
Qusay said in an interview with Al-Maalouma Agency, “There is no decrease in oil prices below $70 because OPEC is the one that determines production quantities and is determined to remain within the $70-100 per barrel range.”
He added, “In the event of a decline in Iraqi oil prices, the surplus that accumulated during the previous period of this year, in which Iraq sold at a rate of no less than 80 per barrel, will enable Iraq to confront price changes.
He pointed out that “Iraq has begun to diversify its economy by investing in oil derivatives and stopping the burning of associated gas, in addition to stopping the import of materials that could be included in the ration card.”
He pointed out that “the Iraqi government has opportunities in the matter of sustainable financing through the reserves of the Central Bank or through the sale of oil shares if revenues fail to reach their targets.”
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WILL BE A WONDERFUL CHRISTMAS BY WOLVERINE, 21 NOV
Wed. 20 Nov. 2024 Wolverine “I’ve had numerous messages that we are definitely going to have a wonderful, wonderful Christmas and hopefully...
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...