Tuesday, July 9, 2024
Monday, July 8, 2024
Investment Shows The Importance Of The Singapore Agreement.. What Are Its Details?
Money and business Economy News – Baghdad The National Investment Commission confirmed, today, Sunday, that the Singapore agreement will accelerate the increase in Iraq's international classification, while clarifying regarding financing projects of local, Arab and foreign investors in Iraq.
The head of the commission, Haider Makiya, said: “The investment classification of emerging countries in 2024, conducted by FDI Intelligence, ranked Iraq fourth, indicating the confidence provided by investment in Iraq, specifically the National Investment Commission, in providing a safe legislative environment for the investor to settle in Iraq and return large capital to implement infrastructure projects and achieve sustainable development.”
He added, "The Singapore Agreement will accelerate and speed up the increase in Iraq's international rating, which is a sovereign rating for the whole world, and thus Iraq's rating will be known when it is good."
He pointed out that "all investors in the world will come without any restrictions or conditions as long as the legislative environment exists and governs their work in Iraq, and thus the process of attracting money to enter it will proceed easily and smoothly."
He pointed out that "project financing may be internal or external. If Iraq joins the international agreements, the process regarding foreign investors will be governed by the agreements. However, if the investor is local or Arab and wants to take financing, he will be subject to Iraqi laws regarding financing." 47 views 07/07/2024 - https://economy-news.net/content.php?id=44973
LATEST FROM MILITIAMAN
Militia Man
Saleh has been very vocal about...the exchange rate, inflation, their reserves. His positive tone has been very well accepted because this is his fourth one...the reason there's positivity is because...of where we have been in the past and what has been transpiring ...What is different in the last year and half since Al Sudani arrived is amazing. It's immense. And the totality of it should have everybody pretty pumped because I see it as light at the end of the tunnel.
Parliament Indicates A “Single Way” To Eliminate 95 Percent Of Corruption In State Institutions
Politics | Baghdad today - Baghdad Today, Sunday (July 7, 2024), the Integrity Committee in the House of Representatives indicated the only way through which corruption can be eliminated in all state institutions.
Committee member Hadi Al-Salami said in an interview with “Baghdad Today” that
“there is one step that eliminates approximately 95% of the rampant corruption in state institutions, which is the transition towards electronic governance, and although this matter was emphasized in the ministerial curriculum, it was not implemented.” Until now".
He stated, "There is no ministry that has implemented electronic governance so far, despite the importance of this step in fighting corruption and eliminating it once and for all.
This confirms the desire for corruption to continue, and that is why all ministries have not implemented this system, which is the main step in eliminating corruption." Which has been eating away at the body of the Iraqi state for years without any real confrontation with it.
Iraq is considered one of the countries with the highest rates of administrative and financial corruption, and it is noticeably present in several administrative facilities.
Some politicians in Iraq are considered among the first to be besieged by corruption charges.
Because of that, Iraq is considered, along with several countries such as Afghanistan, Somalia, Yemen, Sudan, and Libya, among the countries with the highest rates. Corruption according to the Corruption Barometer.
Because of the massive corruption in Iraq, there is a massive lack of services, deterioration of infrastructure, and deterioration of industrial and agricultural development, among examples of rampant corruption.
A total of $228 billion was wasted on construction and infrastructure projects, on paper only, a value that exceeds three times the national budget and the country's gross domestic product,
despite the enormous funds generated from the sale of oil, as Iraq ranks second among oil-producing countries.
But it remains completely dependent on imports, even for electricity and petroleum products.
LATEST FROM PIMPY
Pimpy
July 18th is going to be good. They get to go there, meet with the World Trade Organization. There's going to be information and reforms and requests made by the WTO that they are going to hand off to Iraq.
Iraq is going to go over there and drop off additional materials that was requested from the last meeting and ask questions to make sure their accession into the World Trade Organization continues to go as smoothly as possible. As far as the exchange rate is concerned, no it's not going to be brought up there because that's not the job of the WTO.
Community comment: "July 18th is the next meeting [between WTO and Iraq], they need to RV before then"THE RATE ON THE SCREEN IS $3.91 BY TNT CC, 10 OCT
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