Financial Advisor: Government Measures Put Iraq At The Forefront Of Countries In Foreign Investment, 10 APRIL

 Financial Advisor: Government Measures Put Iraq At The Forefront Of Countries In Foreign Investment

Local | 11:04 - 04/09/2024  Mawazine News – Baghdad  Today, Tuesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed government measures that put Iraq at the forefront of countries with foreign investment, while noting that the development path and the Al-Faw port have strengthened the government’s vision in encouraging foreign investments.

Saleh said in a statement seen by Mawazine News: “The Iraqi economy is characterized by two basic features that help give it preference in foreign investment.

First, cash flows in foreign currency are reflected in the current account of the balance of payments relative to the gross domestic product, which is estimated by international economic and national centers at a surplus estimated at approximately ( Positive 7%) Iraq also ranks second in OPEC oil production and fifth in the world in that production.”

He added: “As for the second advantage, there is a wide range of available investment opportunities provided by transportation, digital communications, housing and construction activities, and it ends with encouraging partnership between the state and the private sector in the manufacturing industry and various technological fields, the latest of which was the Cabinet’s adoption of the facilitating instructions in its last meeting that encourages the existing partnership between...

The state and the private sector, which is based on the principle of mutual win-win and is an attractive signal for foreign direct investment,” pointing out that “the investment law frames the provision of an attractive investment environment for investors, especially the economic surplus trends of the countries of the region and their orientation towards profitable investments in Iraq in the industrial, agricultural and other fields, which...

It gives a positive signal to international investment in general to be attracted to Iraq and investigate promising opportunities there.”

He stressed that “the Development Road Project, as a development strategy that adopts the idea of ​​development-leading projects, constituted the central call for international companies to participate, starting from the port of Al-Faw and ending with the Turkish border, for economic connection with Europe, which... This means that the state's economic vision is based on encouraging direct foreign investments in development activity in Iraq, whose natural resources are abundant in the ground.

He explained, “Iraq is ranked ninth in the world in terms of natural resources in the ground, and ranked first in reserves per square kilometer of investable natural resources such as (phosphate, sulfur, and other important reserves).

A study conducted by the FDI Intelligence website, which specializes in foreign direct investment affairs, stated that “Iraq was ranked fourth among ten countries in the latest classification, and this classification was evaluated based on several criteria, including growth in gross domestic product, the inflation rate, growth in capital spending in foreign direct investment, and the growth rate in foreign direct investment projects.”

The study indicated that “the growth rate of Iraq’s gross domestic product reached 2.9%, while the inflation rate reached 3.6%, and the growth rate in capital spending in foreign direct investment witnessed an increase of 371%, and the growth rate in foreign direct investment projects reached 95 percent.” %”, indicating that “these numbers reflect the noticeable improvement in the investment climate in Iraq and the efforts made to strengthen the economic sector and attract more foreign direct investments.”

https://www.mawazin.net/Details.aspx?jimare=245572

"QFS CONVERSATIONS" WITH GOLDILOCKS, 10 APRIL

 GOLDILOCKS

"Last week the Bank for International Settlements dropped a bombshell of an announcement where it launched Project Agorá, along with seven central banks, which will focus on the tokenisation of wholesale central bank money and commercial bank deposits on programmable platforms."

The race towards International payments has begun. We currently have Global Regulations being tested in Europe and soon to be implemented through MICA. These assets have grown out of the ability to do so because of Protocol 20, whereby, the interfacing of International  Digital Networks have been given the green light to expand into Global connections capable of doing trades with Tokenized Assets at the push of a button. 

The next step is to move towards Cross-Border International Trading. Several countries have began the process of regulating Stablecoins which is a representation of a country's currency. These regulations will speed up the velocity of money and opportunity for companies to grow at a much faster pace.  ;

As each country moves toward manufacturing their own goods and services over time, this will create less bottleneck situations at our shipping ports and more opportunities for jobs within each country for their people.

Shipping port volumes have been increasing it the last few years until the pandemic hit, and to lower these prices on goods traveling around the world more manufacturing jobs at home is being encouraged and shorter routes between countries are being mapped out. This will decrease inflation, and it will increase the Gold Backed Tokenized Assets used on the shipping ports to trade between countries. 

Inflation tends to devalue a currency, and our ability to reduce cost in our shipping industry through more efficient mechanisms will move the pendulum of 80% trade around the world to a much smaller percentage.

Our ability to decrease inflation through digitizing our shipping ports and decrease premium prices on their movement will go a long way in adding more value to our currencies globally.

Watch the water. 

© Goldilocks

https://www.bis.org/fsi/publ/insights57.htm

https://www.coinspeaker.com/fsi-stablecoin-regulation/

https://www.thebanker.com/On-your-marks-a-cross-border-payments-race-has-begun-1712734148

https://www.imf.org/en/Blogs/Articles/2022/03/28/how-soaring-shipping-costs-raise-prices-around-the-world

https://www.investopedia.com/ask/answers/022415/how-does-inflation-affect-exchange-rate-between-two-nations.asp#:~:text=In%20general%2C%20inflation%20tends%20to,weaken%20relative%20to%20other%20currencies.

Iraq completes requirements to join WTO

Al-Araji: The Prime Minister's Visit To Washington Will Establish A New Era In Relations Between The Two Countries, 10 APRIL

 Al-Araji: The Prime Minister's Visit To Washington Will Establish A New Era In Relations Between The Two Countries

Tuesday 09, April 2024 14:39 | Political Number of readings: 96  Baghdad / NINA / National Security Advisor Qasim Al-Araji confirmed that the visit of Prime Minister Muhammad Shia Al-Sudani to Washington will establish a new era of relations between the two countries.

The National Security Advisory stated in a statement: “Al-Araji met in his office today with the US Ambassador to Baghdad, Alina Romanowski, and the two sides discussed the latest developments in the political and security situation at the regional and international levels, and the prospects for cooperation and partnership between Iraq and the United States of America.”

During the meeting, the two sides discussed issues and files of common interest, including the Al-Hawl camp file and continued cooperation in the field of combating terrorism.

During the meeting, Al-Araji expressed his optimism about the upcoming visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington, noting that the visit will establish a new era in relations between the two countries.

He pointed out that the strategic framework agreement between Iraq and the United States of America is important and comprehensive and does not concern only the security aspect, but rather includes all fields, stressing the importance of countries withdrawing their nationals from Al-Hawl camp and drying up the human, financial and media sources of terrorism.

For her part, the American Ambassador confirmed that the Prime Minister’s visit to Washington is very important and that the two countries are moving towards the bilateral security agreement, and that the committees of the two countries are continuing meetings regarding the international coalition’s mission.   https://ninanews.com/Website/News/Details?key=1120309

Details of lifting sanctions on Iraqi banks FROM BEARDED PATRIOTUSA TELEGRAM CHAT ROOM, 10 APRIL

 Details of lifting sanctions on Iraqi banks

⭕️ Establishing a joint council to supervise and monitor the banks subject to sanctions

⭕️ The Council will consist of representatives of the Treasury, the Central Bank, and representatives of sanctioned banks and will be under the supervision of the Ministry of Treasury.

⭕️ Changing the management of the banks so that a new board of directors is formed for the banks, and no bank can continue without an unknown board of directors.

⭕️ Their work must be transparent and clear and they must reform their management systems

⭕️ The US Treasury must have direct access to their data and information

⭕️ It was initially allowed to trade in dollars (initially up to $5 million, then it increased to $10 million and will continue until they return to normal)

⭕️Increasing bank capital to 250 billion dinars

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Al-Sudani: Today We Are Moving Towards Economic Construction And Comprehensive Reform, 10 APRIL

 Al-Sudani: Today We Are Moving Towards Economic Construction And Comprehensive Reform

Economy News – Baghdad  Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Tuesday, that the National Service Government is moving towards economic construction and comprehensive reform.

Al-Sudani said, in a statement received by “Al-Iqtisad News”: “April of this year will return to us, and Iraq will regain its health and historical civilizational launch, and will enjoy security and stability, proceeding with development and reconstruction.

These are gains that were achieved through a long process of sacrifice, patience, and jihad against tyranny. Our people sacrificed precious lives, and caravans of martyrs were among the finest men and women.”

He added: "The dictatorship fell after it delved into injustice and plunged the country into bloody wars and conflicts, causing isolation and hostility and sowing hatred in the region. Our people reaped death, destitution, backwardness and disease, and lost on the path to freedom an elite group of martyrs of the Islamic and national movement, whom we remember in this regard. "

 Especially today, on the anniversary of his ascension as a martyr, Grand Ayatollah Sayyed Muhammad Baqir al-Sadr, whose execution represented a disgrace to the black Baathist regime.”

The Prime Minister continued: “Our people chose their own fate after the fall of the regime, through persistence and determination, which created a bright picture for their future, resisted terrorism, wrote their permanent constitution, and elected their parliamentary representation and national governments.

Then the forces of evil returned to appear in the guise of the mythical ISIS, and the Iraqis pulled together their ranks once again.” They showed a commitment to the land and life that was rarely matched.”

He stated: “The journey of the past twenty-one years has been the best document of the cohesion of Iraqis and the confirmation of common living for all fraternal sects, and today, we are moving together, under the National Service Government, towards an advanced stage of economic construction, comprehensive reform, social and civil service, and consolidating Rights and stability are on the rise, expressing a vision developed by our government’s program, in light of the needs of citizens, their aspirations and their wishes for their country.” Views 37 04/09/2024 - https://economy-news.net/content.php?id=42331