Monday, December 30, 2024
Iraq On The List Of Countries Most Attractive To Investments, 30 DEC
Iraq On The List Of Countries Most Attractive To Investments
Economic 12/30/2024 Within two years, thanks to government measures, Iraq achieved a foreign investment inflow of more than $62 billion, placing it on the list of countries most attractive to investments.
Experts believe that the security and political stability that the country is experiencing was an important factor in achieving this boom, pointing out that the growth in investments came as a result of the country avoiding economic recession and financial problems, while they stressed the need to invest in this attractive feature in selecting only giant and solid companies to work inside Iraq.
Economic consultant and researcher Imad Al-Muhammadawi considered this growth a “positive initiative” that places the country among the ranks of economically important countries and countries that attract investment after China, Singapore, Brazil and other important economic countries, and in the top ranks in the Arab world, calling for the need to diversify investments in the economic and service sectors, especially the housing sector. And energy.
Effective Step
Al-Muhammadawi added to Al-Sabah that “the recent openness that the country is witnessing at all levels was coupled with structural reforms carried out by the government, which represent an effective step in the right direction, contributing to the country entering a new phase of development and economic growth,” considering it “an opportunity to prove the return of Iraq’s role as an effective and influential player in the region due to its strategic location and the promising human and environmental potential it abounds in.”
Development Path
Al-Muhammadawi said: “Investments can prepare the country and prepare it to enter into the important strategic project known as the “Development Road,” which contains ambitious plans that serve the country’s interests, in addition to the fact that they constitute regional and global economic integration, especially after the gradual disappearance of tensions in the region.”
Prime Minister Mohammed Shia al-Sudani recently confirmed that comprehensive reforms were the reason for attracting foreign investments that were initiated and exceeded 62 billion dollars in two years in the oil, gas, housing, industry, agriculture and hotel sectors, and indicators from international organizations and institutions indicate an increase in the growth rate during this period.
Economic Sectors
For her part, Suhad Al-Shammari, who is interested in economic affairs, pointed out that “Iraq has recently sought to activate and revitalize the economic sectors and develop short-, medium- and long-term plans to enhance the role of investments in Iraq in all aspects.”
Riyadh Forum
Al-Shammari pointed out to Al-Sabah, “the directive to open the doors of investment in Iraq with important countries, which the Prime Minister began with a tour of Europe during his participation in the Munich Conference and his trip to the United States and the signing of important agreements that focused in their entirety on reviving the Iraqi private sector,
in addition to launching a dialogue that opens the door to lifting the sanctions on private banks that caused the exchange rate to rise in the local market of Iraq,” indicating that “Iraq opened the doors of economic cooperation leading to the Riyadh Forum, in which the government reviewed Iraq’s capabilities through its strategic location in the region and as an important political player in regional issues.”
Management And Planning
She pointed out that “the continuous tours of senior Iraqi officials, accompanied by economic plans that were developed according to the will, management and planning, aim to enhance Iraq’s financial revenues and diversify the economy, which for many years has been a rentier economy that relies solely on oil and is affected by the conditions of low and high prices,” noting that “the regional factors in the recent period have been unstable due to conflicts and wars, and Iraq has avoided them after adopting a realistic vision in attracting foreign investments to avoid factors of economic stagnation and financial problems.”
Multiple Sectors
It is noteworthy that the Chairman of the National Investment Commission, Haider Mohammed Makiya, explained that the investments were distributed among various sectors, and represented a great opportunity to improve Iraq’s global ranking as an attractive destination for investment. He also stressed that the entry of prestigious international companies of various nationalities reflects the attractiveness of the promising Iraqi market, especially in sectors such as renewable energy, oil and associated gas. https://alsabaah.iq/107905-.html
AJ: "Here we are Jan 2nd 2025 done": , 30 DEC
AJ
This has been a long journey to get here. But, I was the lone wolf on the currency auction . And I took the sling and arrows so you would know the truth. So, Here we are Jan 2nd 2025 done 
--
Today the Parallel market 1516 IQD per dollar
FRANK26: "KTFA FAMILY... TOLD YOU. (LOL)", 30 DEC
KTFA
FRANK26: "KTFA FAMILY... TOLD YOU. (LOL)"........F26
Uncertainty over the 2025 budget.. Parliament: We don't know anything about it yet
12/27/2024
- Baghdad
Member of Parliament Ahmed Al-Sharmani explained today, Thursday (December 26, 2024), that Parliament does not know anything about the 2025 budget schedules, suggesting that the government is deliberately delaying sending it.
Al-Sharmani said in an interview with “Baghdad Today”, “According to the Financial Management Law, the budget or its schedules must reach the House of Representatives at the end of the month (10) of each year, and any delay in doing so is considered a legal violation, especially since this violation has been repeated for many years."
He explained that "the 2025 budget tables are not known to the House of Representatives so far, and the delay in sending them is a violation, and there is no specific date for sending those tables. "
Al-Sharmani added, “Perhaps the government will link sending the tables with amending the law proposed in Parliament, and this will delay sending the tables for a long time due to disagreements over the origin of the amendment.”
MP Jawad Al-Yassari confirmed on December 19, 2024, that political differences over amending the budget law will delay voting on the 2025 budget schedules, indicating that “the Iraqi government is waiting for Parliament to amend the budget law, so that it can send it the schedules for 2025 according to the amendments.”
It is noteworthy that Member of Parliament Mustafa Al-Karaawi announced on December 8, 2024, the postponement of the second reading of the amendment to the General Budget Law until after the legislative holiday.
TIDBIT CLARE, 30 DEC
Clare
Article: "Delegation from US Department of Treasury visit the CBI"
Quote: "Announcement from Central Bank of Iraq – Delegation from US department of treasury visited the central bank of Iraq,
the delegation expressed their gratitude and appreciation for the procedures taken by the CBI during last year in the operations of combating the financing of terrorism and money laundering."
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