Prime Minister Al-Sudani's Success in Attracting Investments Through Foreign Visits
On August 29, 2024, the Parliamentary Investment Committee of Iraq confirmed the significant achievements of Prime Minister Mohammed Shia Al-Sudani in attracting investments to the country through his various foreign visits. Since assuming office in October 2022, Al-Sudani has made it a priority to engage with international partners to stimulate Iraq's economy and diversify its investment portfolio.
A Strategic Approach to Foreign Relations
Al-Sudani's visits have been pivotal in opening up new channels of investment. During his trip to the United States in April 2023, he led a high-level delegation that included key ministers of oil, finance, trade, and electricity. The delegation's agenda focused on strengthening bilateral ties, with discussions on security, trade, energy, and sanctions. Al-Sudani's meetings with President Joe Biden and US businesses demonstrated his commitment to economic development and addressing Iraq's financial challenges resulting from sanctions.
Enhancing the Investment Climate
Iraq has seen a surge in bilateral trade, exemplified by its increasing economic ties with Saudi Arabia. The signing of 12 memorandums of understanding in April 2023, aimed at quality investment projects, reflects the growing cooperation between the two countries.
A new law is also in the works to protect Saudi investments in Iraq, a move that is expected to further boost economic collaboration.
Commitment to International Agreements
In a significant development, Iraq signed the Singapore Convention on April 17, 2024, underlining its commitment to international settlement agreements resulting from mediation. This move is seen as a milestone in Iraq's efforts to attract foreign investments and improve its business environment.
Conclusion
Prime Minister Al-Sudani's strategic approach to foreign policy has been instrumental in positioning Iraq as an attractive destination for international investment. His efforts to diversify the economy and foster economic growth have been reflected in enhanced bilateral relations and the country's commitment to international agreements that support investment.
Parliamentary satisfaction" on managing the investment file: Al-Sudani's foreign visits will attract international companies - Urgent
The Parliamentary Investment Committee confirmed, today, Thursday (August 29, 2024), the success of Prime Minister Mohammed Shia Al-Sudani in attracting investments during his various foreign visits.
Committee member Mohammed Al-Ziyadi said in an interview with Baghdad Today, "There is certainly a clear success for Prime Minister Mohammed Shia Al-Sudani in attracting various foreign investments, especially during his various foreign visits as well as during his meetings with foreign officials in the capital, Baghdad. There is great government interest in the investment file."
He pointed out that "Iraq will be a large and important field of work for various foreign investments during the coming period, and there will be a competition for international companies to work in Iraq, and this is certainly due to the political and security stability, as well as the government's interest in this file, due to its great economic and urban importance for the country."
Last Tuesday, Prime Minister Mohammed Shia Al-Sudani began an official visit to the Arab Republic of Egypt and the Republic of Tunisia, to discuss overall bilateral relations and the latest international developments in the region. He will also hold extensive discussions on enhancing joint cooperation in various fields and sectors. link
Tomorrow I Will Post My Timeframe (imo) Of When I Think The Iraq Dinar Rate Change Will Occur!!! …LFG
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REINALDO JC
Iraq-CBI Delegations & The U.S. Treasury/FED Will Be Meeting At The End Of This Month August In NYC To Discuss Sanctions On Banks-Amongst Other Things, Protect The Iraqi Banking System, Managing Iraq International Reserves & Support The Dinar Stability.
In Other Words-This Urgent Final Meeting Between The CBI & U.S. Treasury Is A Step In The Right Direction To Tighten Up & Finalize Critical Procedures To Reinstate The Iraqi Dinar Internacional!!!
I Will Soon Provide (imo) An Important Post Of When I Think The
Iraq's Economic and Financial Reform Program: Collaboration with the World Bank
In a significant move towards strengthening Iraq's economic foundations and achieving fiscal stability, Finance Minister Taif Sami convened with Jean-Christophe Carret, the Regional Director for the Middle East at the World Bank, and Richard Abdelnour, the Bank's Special Representative in Iraq. This meeting, held on August 29, 2024, focused on reviewing and supporting the economic and financial reform program in Iraq.
Iraq's Economic Reform Program
Iraq, heavily reliant on oil revenues for its economy, has embarked on a critical reform journey to enhance its financial and business sectors and improve the investment environment. The World Bank's involvement in this process is pivotal, as it strengthens bilateral coordination and supports Iraq's government program concerning economic reform.
Financial and Banking Reforms
The Iraqi government, under the leadership of Finance Minister Taif Sami, has outlined plans to accelerate financial and banking reforms.
These reforms aim to solidify the national economy, achieve economic balance, and correct the course of financial policy in Iraq.
World Bank's Role
The World Bank's engagement is multifaceted, involving support for development projects and facilitating reforms in the financial and business sectors. The Bank's representatives have expressed their commitment to providing professional assistance for development initiatives and sector reforms, highlighting the productive collaboration with the Iraqi government.
Technical Assistance and Financial Support
In addition to strategic guidance, the World Bank is providing technical assistance and financial support through loans and grants. This support is critical for Iraq's economic recovery and long-term sustainability.
Economic Challenges and Opportunities
Iraq's economy, recovering from the oil and COVID-19 shocks, has seen real GDP growth of 1.3% in 2021, a stark contrast from the 11.3% contraction in 2020. The non-oil economy's robust growth, particularly in the services sectors, has been instrumental in this recovery.
Unemployment and Fiscal Space
However, Iraq faces significant unemployment challenges, especially among specific demographic groups. The country's fiscal rigidities and oil dependency restrict its ability to implement countercyclical policies, highlighting the need for diversification and fiscal reforms.
Conclusion
The collaboration between Iraq's Finance Minister Taif Sami and the World Bank signifies a renewed commitment to economic and financial reforms. By addressing unemployment, enhancing fiscal space, and diversifying the economy, Iraq aims to establish a more sustainable and resilient economic framework. The World Bank's support, through technical assistance and financial resources, is crucial in this transformative period for Iraq's economy.
Taif Sami and the World Bank discuss supporting the economic and financial reform program
On Thursday, Minister of Finance, Ms. Taif Sami, received the World Bank’s Regional Director for the Middle East, Jean-Christophe Carret, and the Bank’s Special Representative in Iraq, Richard Abdelnour.
During the meeting, the World Bank's loans and grants, development project priorities, and ways of supporting the World Bank to enhance the financial and business sectors and improve the investment environment were followed up. The meeting emphasized the continuation of bilateral coordination to enhance sustainable development, in addition to discussing the bank's support for the government program regarding economic reform in Iraq.
Minister Sami pointed out the government's interest in strengthening partnership with international financial institutions, within the framework of accelerating the pace of financial and banking reforms in line with the Iraqi government's vision aimed at consolidating the foundations of the national economy, achieving economic balance, and correcting the course of financial policy in Iraq. link
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good morning friends! Great day for some life changing news!
Member: Any good RV news today Mark?
MZ: The silence in the news is eerie…This month has flown to quickly. We should have seen more money moving this month
Member: I’m thinking and feeling that all the silence ( is golden) and just out there wacky confusion is exactly the way it was supposed to be at this time.
Member: It's unsettling how news has gone completely silent about the RV. This eerie calm feels like the quiet before a storm, leaving us to wonder what’s brewing beneath the surface?
MZ: It definitely feels like the calm before the storm- It’s weird.
Member: I don’t feel calm….. I feel anxious. Wish something would break soon!
Member: I am hopeful that the much anticipated events happen this weekend.
Member: I am praying September is out month
MZ: I’m still praying August is our month. Most of what I am being told right now is to expect it anywhere from last Monday until September 4th- somewhere in there to see us actually with appointments…we will see. Things are quiet and crazy…..and I think the quiet is purposeful. .
Member: how much more calmness are we in for…. asking for a friend.
Member: I blame the nothing burger is because of the NDA's….This is good news.
Member: if you're on a diet ….nothing burgers are good for you
Member: Is there any difference between on screen exchange rates at banks or contract rates at redemption centers ?
MZ: A redemption center is a redeeming bank. So you are going to a bank that is especially set up and has the equipment and training to exchange us. I am told there will be a difference in the fees and how much you have to pay them…their cut. But the rates should be universal.
Member: Who Cares what the exchange PLACE is called as long as THEY call ME! ha ha
Member: Where are these redeeming facilities?
MZ: We have talked about that about ten million times….They are not going to give you the exact location beforehand…It’s a security risk.
Member: I am wondering if Iraq is going to be an RV or reinstatement
Member: MilitiaMan sure had a good video today
MZ: There has been a grinding juggernaut of progress in Iraq. Things do continue to move.
MZ: Banking contacts say Bam, bam, bam….It’s happening right now….lots of hopeful conversations for this weekend from a number of currency groups. Bond side is eerily quiet.
Member: My currency and Bonds are longing for the loving touch of another. They have become bored being spread out, caressed, and hugged by me alone. We need the RV!
MZ: The chatter out of Iraq stays fantastic….we keep hearing stories about lower denominations in the streets but, people who are physically there say no- not yet….but that they are physically prepared for them.
Member: I wish we knew what happened with Al Alaqs trip to the US in New York and DC???
Member: Al-Sudani announces the completion date of the first phase of Al-Faw Port: It will be a qualitative addition to the region: Search4Dinar
Member: Iraq signs agreement with two international companies to improve water management: Search4Dinar
Member: Oil Minister and OPEC Secretary General discuss cooperation in stabilizing markets: Search4Dinar
Member: I really think they may hold off until they see what happens here in Nov. so they know who's running things before they revalue etc.
Member: Even though it's so quiet, I think everyone is feeling very excited and finally we have a "knowing" this is it!
MZ: I know we are tired and worn down….but ask yourselves…Can the world continue for eternity the way it is??? Do you think this is a sustainable direction for our country and the world??? One thing that is certain is change.
MZ: What do you think replaces it? What is the logical occurrence financially? It always corrects…..History tells us the countries with the most commodities will come out on top. We will win.
Member: the national debt goes up about 1 trillion every 100 days…We cannot sustain that!!
Member: US net interest payments on national debt hit $861 BILLION over the last 12 months, according to the latest US Treasury report. Interest costs have nearly DOUBLED in just 2 years. Time for the reset.
Member: Remember- It is a Holiday weekend…A 3 day weekend…….This could be the one we are waiting for.
Member; Keep positive thoughts….The best is yet to come.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
FOLLOW MARKZ : TWITTER . https://twitter.com/originalmarkz?s=21. TRUTH SOCIAL . https://truthsocial.com/@theoriginalm...
Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM
Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, medical opinions or many guests on this stream……just RV/currency related topics.
ZESTER'S LINK TREE: https://linktr.ee/CrazyCryptonaut
THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!
