ERBIL INTERNATIONAL FAIR: A VITAL PLATFORM FOR ATTRACTING INVESTORS
The 15th Erbil International Construction, Electricity, and Energy Exhibition is a key meeting point for investors and owners of industrial and commercial companies from inside and outside Iraq, reflecting the vitality of the industrial and commercial sector in the region and the country as a whole.
The exhibition, which will run for several days, features more than 250 local, Arab, and foreign companies specializing in construction, equipment, and building materials, providing a great opportunity to exchange expertise and establish new partnerships that enhance investment opportunities and economic development.
😊Next we read of yet more economic growth and development progress being made in Iraq in the article titled “IRAQ SIGNS A MEMORANDUM OF UNDERSTANDING TO DEVELOP PART OF THE AL-RUFAYL ECONOMIC CITY IN BAGHDAD.
Prime Minister Mohammed Shia al-Sudani sponsored the signing of a memorandum of understanding today, Sunday, regarding the development of a portion of the Al-Rufayl Economic City in Baghdad. Why is this important?
It is telling us that Iraq is moving ahead and these cities are becoming a reality and not just talk. These integrated cities will bring the much needed services, schools, hotels, and other service facilities to Iraq.
But I bring you this article today, however this is just one of many articles in the recent telling us of such projects throughout Iraq. Iraq is not the Iraq is was 20 years ago and 10 years from now will be even nicer and greater.
There is yet more on this theme of development:
😊In the article titled “THE GOVERNOR OF THE CENTRAL BANK RECEIVES A DELEGATION FROM THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT (EBRD)”
His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alaq, received a delegation from the European Bank for Reconstruction and Development (EBRD) in Baghdad.
The meeting discussed the measures required to commence their work in Iraq next September, following the completion of Iraq’s accession procedures to the European Union bank.
For its part, the European Bank delegation expressed its readiness to provide technical support and financing for the restoration and modernization of infrastructure, the transition to a green economy, and supporting the private sector to play its role in the growth of the Iraqi economy. WOW!
😊You might want to watch the short video in the Articles Section titled “Returning to BAGHDAD after 15 years!! IRAQ is not what you think?” It is an eye opener but remember this video is also a year old.
😊😊You might also want to read a recent article titled “BAGHDAD PULSE BRINGS LIFE BACK TO THE CAPITAL’S STREETS… A NEW PROMISE OF LIFE. ” It is found towards the end of the Articles Section in today’s news.
TEHRAN TO WASHINGTON: IF THE TRIGGER MECHANISM IS ACTIVATED, THE RESPONSE WILL BE HARSH.
Iran has issued an explicit warning regarding the activation of the nuclear agreement’s “snapback mechanism,” stressing that any such move will be met with a firm response.
This came in remarks made by Iranian Foreign Minister Abbas Araqchi during a meeting with the Iranian Parliament’s National Security and Foreign Policy Committee.
Araghchi pointed out that uranium enrichment inside Iran is an irreversible “red line,” emphasizing that Tehran will not negotiate under threat or pressure, and that Iranian diplomacy operates based on an independent vision that is not subject to political blackmail or temptations. He expressed his country’s willingness to cooperate in establishing a regional enrichment center,
but stressed that enrichment within Iranian territory is “non-negotiable.”
Araghchi also held Israel partly responsible for the escalation, warning that any war that might break out in the region would not only harm one party, but would have repercussions that would extend to all countries in the region. For their part, several members of the parliamentary committee expressed their categorical rejection of any negotiations with the United States, noting that it continues to impose sanctions even while the talks are ongoing, which they described as a “dishonest approach.”
😊In the Articles Section I also am showing you once again an article from 2024. It is titled “AL-ALAQ: WE ARE CONSTANTLY REVIEWING THE DELETION OF ZEROS FROM THE DINAR, AND THERE ARE NO RESTRICTIONS ON OUR BALANCES IN AMERICA”.
Now why would the CBI tell us this if they were not still planning the project and thus are telling us they could do it anytime such as using the words “constantly reviewing”.
Again I keep asking my self just how far must the reforms go in order to move ahead with this project?
Remember that back in 2012, when under Dr Shabibi they did not have all these reforms in place, yet he was given the green light to go ahead.
Now Iraq is in a much, much better banking and financial position than in 2012. So, using our common sense we can see how close we are to this event.
I encourage everyone to take the time go re-read this article from 2024. To know where we are going we must remember what they say in the past. The full article is in the Articles Section.
In the article it talks about Iraq’s repayment of all its debts to the International Monetary Fund, accumulated over the years.
WOW! WOW! WOW! Why do I say this? This repayment will a positive impact in the long term by enhancing credit and improving financial sustainability, in addition to its repercussions on the country’s economic situation. I guess the IMF economic hitman is not having his way with Iraq…lol..lol.
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By repayment of these loans it will improve Iraq’s economic confidence and credit rating and obtain financing on better terms in the future. It will also achieve greater independence for Iraqi economic sovereignty, making the country less vulnerable to external pressures and interference in its economic policies.
In an article titled “THREE REASONS BEHIND IT… AL-SUDANI’S ADVISOR TO RUDAW: ABOUT 90% OF IRAQ’S MONETARY MASS IS HOARDED OUTSIDE BANKS.“.
You can go read the article for your self but I will add my commentary, which is not that far off from the TRUTH. Iraq even witnessed special banking centers set up specifically to collect these hoards of cash. it was NOT successful. Good try but no cigar…lol..lol..lol..
So why is there still so much of the monetary mass outside the banking system?
It is really just a matter of trusting the banks. I think not. What I firmly believe is that the average Iraqi citizen is not stupid. That because they lost so much value in their dinar, when they introduced the large three zero notes in 2003.
Many millionaires became poor overnight. They lost a fortune. They are holding back and are now waiting for a new rate to regain or even perhaps increase their wealth they had before the 2003 war and embargo years of (1990-2003).
I am convinced that the only way they are going to retrieve all this hoarded money is to bring out the second revalued rate to the CBI and then make the dinar equal to the dollar if not just over it.
This will bring in a good percentage of the cash but some will still hold out for the later reinstatement. So, if I believe this, don’t you also think that Ali Al-Alaq also knows this? is there something else he is going to try?
Mazhar Mohammed Saleh, economic advisor to Iraqi Prime Minister Mohammed Shia al-Sudani, believes that approximately 90% of Iraq’s monetary mass is outside the banking sector and hoarded in homes.
On Wednesday, Oman’s Foreign Minister Badr Albusaidi announced that the fifth round of indirect talks between the United States and Iran will be held in Rome on May 23.
Albusaidi confirmed the date in a post on X, marking the first official detail after weeks of quiet engagement in Muscat and Rome.
His statement followed remarks by Iranian Deputy Foreign Minister Abbas Araghchi, who said Tehran had yet to finalize plans for the upcoming meeting.
Despite continued indirect contact, both sides have shown little indication of tangible progress. Earlier, Iran’s Supreme Leader Ali Khamenei dismissed the possibility of a breakthrough with Washington on either the nuclear or missile tracks.
Analysts view Khamenei’s stance as a sign of entrenched resistance within Iran’s leadership, while Western diplomats caution that without flexibility, the window for renewed engagement may soon close.
Just in: UPDATE from the Friday negotiations talks.
