Thursday, November 7, 2024
Makkia: Iraq is heading towards a major investment marathon, 7 NOV
Makkia: Iraq is heading towards a major investment marathon
11/6/2024 Baghdad
The head of the National Investment Commission, Haider Makiya, confirmed on Wednesday that Iraq is heading towards a major investment marathon for many projects, while he indicated that funding from international institutions reduces the burden on the Ministry of Finance by granting loans for investment projects.
Makiya said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "we found many economic visions in the first version of the Iraq Economic Forum", noting that "the issue of the possibility of benefiting from the financing of international institutions known to the Central Bank was raised in order to reduce the burden on the Ministry of Finance to grant loans and facilities to local investment projects or even foreign projects."
He added, "It is necessary to seek external funding to finance investment projects, especially since Iraq is about to embark on a major investment marathon for many investment projects inside Iraq."
Makiya explained that "the understandings with the International Financing Program are still in effect, and we hope for all major investment projects in the field of renewable energy and waste treatment to generate electricity," noting that "we hope to search for solid institutions to develop the projects, especially since their amounts are very large." LINK
RV UPDATE BY FIREFLY, 7 NOV
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Alaq back in TV talking about stability and security saying Iraq have very low external debt and that's good because high external debt causes low credit rating and it can hurt a country's exchange...
Alaq also said to us again the dinar would return to the 'glory days' of the past.
FRANK: Doesn't get any better than that. These are the people we want to hear from and these words coming out of their mouth? This is exactly what we want our ears to hear form them.
Wednesday, November 6, 2024
Iraqi government issues new decisions – urgent, 7 NOV
Iraqi government issues new decisions – urgent
Baghdad Today – Baghdad
The Council of Ministers, headed by Mohammed Shia Al-Sudani, issued today, Tuesday (November 5, 2024), during the 45th ordinary session, a number of new service, economic and urban decisions.
The media office of the Prime Minister said in a statement received by Baghdad Al-Youm that “the Sudanese chaired, on Tuesday, the 45th ordinary session of the Council of Ministers, in which they discussed the latest developments in the country, and the vital files related to the priorities of the government program were deliberated, as well as considering the topics on the agenda and taking the necessary decisions on them.”
As part of the Council of Ministers’ follow-up to the preparations for conducting the census in Iraq, on November 20, the Council approved the following:
1- Affirming compliance with the decision of the Federal Court (73/Federal/2010) on the general population census.
2- The census is carried out in the disputed areas by a joint team of the three nationalities (Arab-Kurdish-Turkmen), and an individual from the Christian religion is added to the group in the Christian-majority areas.
3. The Statistics Authority and the Kurdistan Region Statistics Authority of Iraq, in cooperation with the Federal Ministry of Interior, compare the data tables of the following ministries with the census results in:
A. Ministry of Interior records, 1957 census and updates.
B. Ministry of Commerce records and data of the Ministry of Immigration and Displaced Persons.
4. The results of the general census and the data boycott of the census in the records contained in paragraph (3) shall be the competence of the Federal Ministries of Planning and the Ministry of Planning in the Kurdistan Region of Iraq, according to the joint agreement, where a special register for these areas shall be organized that includes the results of the data boycott, and the Federal Ministry of Planning and the Ministry of Planning in the Kurdistan Region of Iraq shall keep the copy of this record.
5- Commitment to organizing statistical tables on the numbers of deportees, emigriates and displaced persons in disputed areas and other governorates and according to official holdings.
6- The Kurdistan Region Statistics Authority of Iraq sends a technical team in the main census operations room to review and follow up the progress of the census processes and check on the integrity of the procedures permanently, until the end of the process.
7- The commitment of the Kurdistan Region Statistics Authority of Iraq to immediately start training enclerators with intensive courses in preparation for the general census of population and housing on November 20, 2024.
The Council of Ministers approved the proposal to amend Article (12/II/c), of the Tripartite Budget Law No. (13 of 2023), to include the following:
1- The Federal Ministry of Finance shall compensate the Kurdistan Regional Government of Iraq from sovereign expenses for the cost of production and transportation, for the quantities of oil produced in the region that are received by the Oil Marketing Company (SOMO), or the Federal Ministry of Oil in accordance with paragraphs (a) and (b) of this item, provided that the fair guessing costs for production and transport for each field are calculated separately, from a specialized international technical advisory body, determined by the Federal Ministry of Oil in agreement with the Ministry of Natural Resources in the region, within (60) days from the entry into force of this law, and in the event of no agreement within the said period, the Federal Council of Ministers shall determine the aforementioned advisory authority.
2. The aforementioned consultant shall be submitted in the preceding paragraph, the cost of production and transportation provided to the Federal Ministries of Oil and Finance and the Kurdistan Regional Government of Iraq, and shall be approved for the purposes of this law. The calculation of the said compensation shall be based on the said cost of the barrel multiplied by the number of barrels received in accordance with paragraphs (a) and (b) of this item, and the Federal Ministry of Finance shall pay the amounts to the Government of the region.
3. Immediately proceed with the delivery of the oil produced in the Territory to the Oil Marketing Company (SOMO), or the Federal Ministry of Oil in accordance with paragraphs (a) and (b) of this clause. The cost of production and transportation shall be compensated by the Federal Ministry of Finance as an advance, at the rate of (16) dollars per barrel, to be settled later after the completion of the specialized technical consultant mentioned above, and retroactively from the date of the delivery under this amendment.
As part of the government’s direction to develop civil defense work in Iraq, the Council of Ministers approved the allocation of (25) billion dinars for the Ministry of Interior to establish civil defense detachments with a number of (100) in Baghdad and the governorates / second phase, from the emergency reserve in accordance with the provisions of the Tripartite Budget Law, and coordination between the Ministries of Interior and Planning, to provide the Ministry of Finance with details of the addition to the required transfer of the said amount.
In the same context, the Council of Ministers approved direct contract with the Chinese company (SANY) to purchase extinguishing wheels for (18) wheels, an exception to contracting methods in the implementation of government contracts, and the exception of the aforementioned wheels from Cabinet Resolution No. (68 of 2016) as amended.
The Council also approved the formations of the Ministry of Interior with independent budgets to contract directly with the Police Martyrs Fund; to secure their needs for the allowances produced from the fund above and other equipment that are processed through it, with the exception of the contracting methods in the instructions for the implementation of government contracts No. (2) of 2014.
In the field of government support for the educational and educational sector, the Council of Ministers approved the amendment of its decision No. (24285 for the year 2024), to include an increase in the percentage of admission of first students from graduates of the institutes from (10%) to (20%) for admission to all universities, and in corresponding or nearby specialties to allow students from the institutes to apply to complete their initial university studies.
In the process of supporting the health sector with specialized human resources, the Council of Ministers approved the legal status of the development of institutes of higher health professions in the governorates with two institutes in Baghdad governorate (Al-Shala and Al-Mahmoudiyah), and one institute in each of the governorates; Babylon, Diyala, Diwaniyah, Salah al-Din (Judjadiya Balad), and Muthanna, without prejudice to the fundamental re-investigation and amending the system in force retroactively, and the Council of Ministers may develop institutes in the districts upon the proposal of the Minister of Health, with an exception to the system of the First Amendment to the Law of Higher Health Profess Institutes (3 of 2011).
Within the framework of supporting the national industry and the private sector, the Council of Ministers approved the provision of a sovereign guarantee, with the value of the interest on the loan for a period not exceeding (10) years, for the purpose of establishing a glass manufacturing plant, in cooperation with the two lenders (Aka Bank and Komarzi Bank).
In the same context, the Council approved the coverage of the plastic granules material (both milled and granules) by the Council of Ministers resolution (24413 of 2024), to be the customs duties of (0.05%).
In the field of administrative reform and evaluating the performance of officials in government institutions, the Council of Ministers approved the appointment of 4 directors general in various ministries, based on the performance evaluation criteria adopted by the Council.
The Council also approved the selection of Ms. Islam Hassan Al-Saadi as a sixth member of the Board of Trustees of the Iraqi Media Network, and the recommendation to the House of Representatives to vote on her in accordance with the Media Network Law.
As part of the Council’s follow-up to complete the lagging projects and proceed with infrastructure projects, the Council of Ministers approved the following:
1- Developing a component (equipping medical devices and supplies), within the project (emergency hospital in Rania / Sulaymaniyah), and increasing the total cost of the project.
2- Increasing the total cost of the project (demolishing informal buildings (411) buildings, and rebuilding alternative schools (229) schools (in the traditional construction method) and (182) schools in the concrete construction method in Baghdad and the governorates.
3- Increasing the total cost of the project (the construction of the North Nasiriyah Bridge and its approach / the first phase).
4- Increasing the total cost of the project (preparing alternative sites, demoliting and establishing the second phase of developing the martyr Muhammad Baqer Al-Hakim Hospital in Baghdad).
5- Inclusion of a project (establishment of a public hospital with a capacity of (100) beds in Ali Al-Sharqi District / Maysan Governorate (Infrastructures) in the investment budget tables of the Ministry of Health for /2024.
The Council of Ministers considered the other topics on its agenda and approved the following:
First/ Approving the draft law of the fifth amendment to the Civil Aviation Law No. (148) of 1974, and referring it to the House of Representatives, based on the provisions of the Constitution, or withdrawing the draft civil aviation law issued according to the Council of Ministers Resolution (24441 of 2024) and its amendments from the House of Representatives.
Second, adjusting the price of gas oil processed for the wheels and generators of the Iraqi National Paralympic Committee to become 400 dinars, instead of 750 dinars per liter.
Third, the Ministries of Commerce, Industry and Minerals concluded leases with the Independent High Electoral Commission for the warehouses occupied by them, in accordance with the Law on the Sale and Rent of State Funds.
TIDBIT FROM MILITIAMAN, 7 NOV
Militia Man
I think they've got it to an exposer level. They haven't exposed the 2024 budget yet. They haven't exposed the hydrocarbon law yet. They haven't turned on oil in the Port [Into Turkey] yet.
Why?
Because I think the 2024 budget has something that we're waiting for.
They're achieving bonds. They're soaking up money off the street...
Here's another sign of the country that is setting the stage for internationalism...they got bonds to get the hoarded money into circulation...That's another very good telling sign that Iraq is just about ready to open her doors...
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