DINAR REVALUATION

Sunday, March 3, 2024

WOW💥Vietnamese Dong, Zimbabwe Dollar & Iraqi Dinar RV Reinstatement on M...

Iranian Technical And Engineering Services Companies Account For Two Billion Dollars In Iraq, 3 MARCH

Iranian Technical And Engineering Services Companies Account For Two Billion Dollars In Iraq

2024-03-02 Shafaq News/ Secretary of the Iranian Construction Companies Syndicate, Erj Claptonji, announced on Saturday that Iranian companies exporting technical and engineering services captured about two billion dollars from the Iraqi market from 2009 to 2015.

According to Iranian media, Erj Claptonji urged private sector companies to follow solid and solid plans to reach $20 billion in Iraq, especially since Turkish companies are on the cusp of investing $27 billion.

According to reports reported by ISNA News Agency, 56,500 engineering companies accredited by the Iranian Planning and Budget Organization are active in the field of the construction industry in Iran, 53,000 of which are contracting companies, and 3,500 of which are consulting engineering companies. About two million and 600 thousand people work in these companies.

According to statistics on the export performance of technical and engineering services from 1994 to 2021 provided by the Article 19 Committee of the Iranian Trade Development Organization, the approximate index of technical and engineering services exports in Iran reached about $34 billion in the form of 911 projects.

The Secretary of the Iranian Construction Companies Syndicate explained that Iraq opened its doors in 2015 to Iranian contractors, as private sector contractors won projects worth two billion dollars by entering tenders.

This indicates that if there is an active market next to Iran, Iranian companies can capture it from regional competitors through the necessary coordination. Iranian technical and engineering services export companies operate in Uzbekistan, Tajikistan, Bangladesh, Afghanistan, Pakistan, Sri Lanka, Kazakhstan, Turkmenistan, Azerbaijan, Armenia, Iraq, UAE, Oman, Yemen, Belarus, Djibouti, Kenya, Algeria, Sudan and Venezuela, but the largest volume of The activity of these companies between 2012 and 2016 was in Iraq.

Iranian companies in Iraq recorded contracts worth about four billion dollars, of which two billion dollars related to the “MBNA” company and the rest related to private sector contractors. But since 2016, when ISIS entered Iraq, the activity of Iranian companies in this country has decreased.

According to Claptonji, 38 private sector companies obtained 57 projects in Iraq during that period, including $3.1 billion in southern Iraq, $235 million in Sulaymaniyah, and about $400 million in Erbil.

This official stated that the largest activities in this sector target the Ministry of Construction, Housing and the Municipality in Iraq, with approximately $452 million. In the ranking of the best 250 contractors in the world during the year 2020, China came with 74 companies, Turkey with 44 companies, and Iran with two companies.

Referring to developments in exports of technical and engineering services to countries in the region, Claptonji said, “Iran’s most important competitor in the region is Turkey, which exported about $425 billion in technical and engineering services in the same period in which Iran exported $34 billion.”

The share of exports of technical and engineering services in Turkey's economy is about 30%, which means that Turkey has relied a large part of its economy on these exports. LINK

"RV UPDATE" BY CLARE, 3 MARCH

Clare

Article: "Iraq is looking forward to joining the World Trade Organization" Quote: "Iraq has today become a major economic player on the world level and needs to harmonize Iraqi laws with international laws."

Article quote: " Parliamentary agreement with the European Union mission: European financial and banking institutions are preparing to invest in Iraq"

Article: "Iraq completes requirements to join WTO” Quote: "The Iraqi Minister of Trade, Atheer Al-Ghurairi, affirmed that Iraq fulfilled the conditions necessary to become a member of the World Trade Organization (WTO) following the completion of economic reforms and the enhancement of the investment climate."

🔥 Iraqi Dinar 🔥 Exciting News from Iraq: Potential RV Before Ramadan 🔥 G...

Saturday, March 2, 2024

Foreign Minister: Iraq Will Expand Its Production Of Natural Gas , 3 MARCH

Foreign Minister: Iraq Will Expand Its Production Of Natural Gas

2024-03-02 Shafaq News/ Iraqi Foreign Minister Fuad Hussein confirmed on Saturday that his country’s government intends to expand its production of natural gas, and not rely on oil as the sole source of income.

Hussein said in his speech during the Antalya Diplomatic Forum held in Turkey, "We have a government that is working to revive and strengthen the agricultural sector, as well as expand natural gas production."

He added, "Iraq should not rely solely on oil in the coming years," adding, "We have very good trade relations with Turkey and Iran." LINK

"RV UPDATE" BY PIMPY, 3 MARCH

Pimpy

Article: "Sudani: Investment environment in Iraq is promising and open" Remember they have to be able to draw in foreign investors. As long as the country appears to be stable, the economy looks to be stable, the exchange rate looks to be stable, the currency looks to be stable, it's all promising...this is all great news. This is one hell of a day for Iraq...

Today easily has got to be one of the best days of news for Iraq I've seen in a long time. They have been busting their asses to get their country in line to get back out and do business on the international market...One great article after another...

Here's the biggie everybody is celebrating. We're not there yet but very close. Article: "Iraq has completed requirements to join WTO: Minister" We have to wait till they get voted in. Yes they completed all the steps. Let's hope they keep their nose out of trouble and finally get accepted...Iraq is right there at the cusp, man, it really is. This is big news.