Thursday, June 27, 2024
What Is The Importance Of Iraq Joining International Agreements?, 27 JUNE
What Is The Importance Of Iraq Joining International Agreements?
Money and business Economy News – Baghdad Today, Wednesday, the head of the National Investment Authority, Haider Makiya, stressed the importance of Iraq joining international agreements to enhance the investment sector, pointing out that Iraq has provided real guarantees to attract foreign investments.
Makiya said, in his speech, during the launch of the National Investment Commission conference in cooperation with the United Nations Development Programme, that “Iraq’s accession to the International Settlement Agreement resulting from international mediation and disputes that was signed in 2024, will contribute to achieving the goals of sustainable development and encouraging the increasing use of international mediation as a means.”
Effective for settling cross-border disputes, for the purpose of maintaining trade and investment relations between the parties involved in the investment process.”
He added, "This agreement has a pivotal dimension, foremost of which is finding an alternative method to litigation procedures before international arbitration bodies in disputes arising from investment, especially since Iraq joined in 2015 the International Center for the Settlement of Investment Disputes between States and Citizens of Other Countries, and this "It will give foreign investors the right to resort to the Washington Center."
He continued, "Also, the Republic of Iraq's accession to the New York Convention on the Recognition of Foreign Judgments of 1958 means completing all the legislative environment necessary to provide real guarantees and protection for foreign investors, and this will positively reflect on attracting foreign capital to Iraq, which aims at the process of construction and reconstruction, and will raise Iraq's classification."
He explained, "This agreement enhances the Iraqi investment reality, because it includes many international and qualitative strategic investment opportunities that impose contracts with specialized foreign companies for investment purposes
This requires Iraq to provide legal protection to those companies by resolving disputes in the event that they arise from investment contracts that It is imposed by state institutions on these companies, which prefer to resort to international arbitration to guarantee their rights, as stipulated in Article 27 of Investment Law No. 13.
He pointed out, “Iraq’s accession to the International Mediation Agreement (Singapore Agreement) is necessary to attract foreign investments and achieve intended development, especially in light of Iraq’s transformation and dependence on a free market economy.
This agreement will also create a legal framework that allows reliance on agreements.” The settlement resulting from mediation is easily implemented by all countries.”
Makkia stressed that "the legal department at the National Investment Commission and the investment authorities in the governorates will work to include international investment contracts based on mediation mechanisms in disputes related to investment before resorting to international arbitration, which will send a message of reassurance to foreign investors and foreign companies to proceed with resolving disputes related to these contracts, in an easier way than entering into international commercial arbitration procedures."
He pointed out that "the Republic of Iraq's accession to the International Commercial Arbitration Convention and the Singapore Mediation Convention, in addition to concluding many agreements to encourage and protect mutual investments between Iraq and many international countries, made Iraq occupy the fourth place in the classification of foreign direct investment."
And the best emerging markets to invest in 2024.”
He stressed that "the noticeable improvement in the investment climate in Iraq comes as a result of the government's efforts to enhance the economic and investment sector, in attracting foreign investments," calling on foreign companies, foreign investors and businessmen to "visit Iraq to learn about the investment opportunities included in the investment map,
and to attend the Iraq Investment Forum that will be held next November, which will launch more than 100 investment opportunities with complete approvals, and to see the advantages and guarantees that the investment law will provide to investors." Views 42 06/26/2024 - https://economy-news.net/content.php?id=44638
RV UPDATE BY TNT TONY, 27 JUNE
Wed. 26 June 2024 TNT Tony
TNT Tony said window is Thursday after 5 thru Sunday. He also said it could go in 5 minutes. FYI, If you are in the US, you should be able to get the contract rate IF YOU ASK. So ask. ($28.50)
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Waiting on the go. There is agreement amongst them re: when it will be announced and what they are waiting on.
Window: 5 min from now until Sunday morning.
Sunday is a celebration day in Iraq.
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TNT- They are waiting for the trigger, there is a trigger. He won’t tell us what that is.
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TNT- Now saying Thursday 5pm EST to Sunday morning for live rate window.
https://dinarevaluation.blogspot.com/2024/06/waiting-on-go-by-tony-tnt-from.html
Integrated Projects, 27 JUNE
Integrated Projects
Economical 06/26/2024 Walid Khaled Al-Zaidi There is no disagreement about the utmost importance of the issue of integration in implementing development projects and the degree of interconnection between them so that the results are broader in scope, more useful, and of better quality, so that the quality and level of integration become comprehensive and not partial in the form of harmony and interaction in the process that reaches the point of strategic production so that its form has long-term results and is based on implementation.
Multiple projects, such as investing in oil and gas fields and linking them to petrochemical industry projects, and then going further to produce clean energy (for example).
As a matter of objectivity, it must be said that the integrated projects in the field of oil are the most prominent things that can be pushed to be the best examples of this issue,
because oil as a raw material is a necessary raw material for the production of other manufactured materials, as well as gas, some of which is associated with this crude during the extraction operations from The interior of the earth, whether at the level of wells or various fields, as the process of expansion of integration models in oil projects represents a prominent feature because it is a clear and multifaceted indicator of the ability of each country to adopt these projects for development, growth and economic advancement.
Several countries have presented pioneering models in benefiting from the expansion Its projects include extraction stages and then derivation of other materials, leading to the production of materials different from the originally extracted primary material.
Those who follow the situation in Iraq in the field of oil and other mineral resources see an abundance of possibilities for directing the Iraqi economy towards implementing projects with integrated stages, and although this matter requires advanced technology and accumulated experience that makes a difference in production and accommodates various projects,
but those in charge of the Iraqi economy in general and the oil field In particular, they realized the concept of integration in business management and the diversity of its production.
There is no doubt that the focus at the present time is moving towards expanding projects to take advantage of their advantages in product diversity and increasing its activity through additional stages, methods and other complementary processes that can be called project integration and
the addition of new products from The same raw material for what was produced before, which is what the government has currently directed to push towards implementing integrated work in the energy sector and providing means of export for manufactured products to include developing oil and gas fields and linking them to petrochemical projects, clean energy and other materials, and through activating the Al-Faw refinery project as its first stage.
The Al-Faw refinery project will provide means of exporting petroleum products, linked to the petrochemical industries project and a storage project, in addition to many projects that could be complementary and implemented by the Ministry of Oil in multiple regions of the country that have the elements for successful implementation in the governorates of Basra, Maysan, and Dhi Qar.
These projects and others will have a significant impact in achieving Qualitative development and renaissance in the reality of the oil industry and all industries related to it on a broad national scale, based on effective evaluation and productive exchange between the basic units inside Iraq,
in a way that can clearly work on a set of economic measures and transfers, creating close links for promising development, and operating a package of interconnected projects and successive production cycles. To benefit from resources and expand the framework of the benefits of the national economy.
https://alsabaah.iq/98527-.html
"RV UPDATE" BY WOLVERINE, 27 JUNE
Wed. 26 June 2024 Wolverine
It’s ready to go, in fact it has already started. Some are getting paid and they are all under NDA. Another source says it is going to be this week, but things are happening right now and they are processing the first group. The second group should go around the 4th of July, while some say right after Thurs. 4 July.
Wednesday June 26, 2024
FRANK26: SAYS
AL SUDANI (IRAQ PRIME MINISTRY) and his team go to the US treasury and deliver the monetary reforms that Sudani is going to implement for RV and RI of the IQD.
That is the reason why they are reforming the banking sector, which will increase the value of the Iraqi dinar..
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Tues. 25 June 2024 Wolverine
What I have been told by my Brazil contact:
Payments have started, some are getting paid, and they are all under NDA.
There is a platform paying by crypto and they are about to kick off I think it is “oxygen” (extra dollars so they can de-stress). That is what I am hearing. That is definitely 100% happening for them to be paid on that platform.
Another source says it is going to be this week.
They are adamant, but some say right after Thurs. 4 July.
Many of you cannot wait any longer as you are hanging on by a thread. Let us all pray to God that we will have the green light to move forward with our lives.
I am praying that by tomorrow we will get news from Reno and I will get that miracle call I am waiting for. Take Care, Wolverine.
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