74 billion dollars volume of investments in Iraq in one year

Go down

74 billion dollars volume of investments in Iraq in one year

Post by Blackwater_usa on Sat Jul 26, 2008 3:35 pm

Chairman of the National Authority for Investment to "Assabah"
Baghdad, Haider Al-Rubaie Fleih
Head of the National Authority for Investment Dr. Ahmad Reza on the government's plan to build modern hospitals in all governorates in proportion to the population density as well as manufacturers of medicines and vaccines medical noting that the final project under study to build a specialist hospital in the German-Iraqi Baghdad and a pharmaceutical factory in Samawah and draft a factory for Children's Vaccines not Be determined after standing as well as building 200 thousand housing units in the province of Najaf, as in Salahuddin, Karbala and a number of other provinces aimed at absorbing part of the housing crisis in Iraq .. pointing out that Iraq is a mine of human resources which, if destined to operate at full capacity it Will be economically equivalent of heavyweight economies of the developed countries showing the relentless quest towards attracting investments that affect the usefulness of individual such as the first Iraqi schools, hospitals and other facilities that are necessary in everyday life.
He explained Dr. Ahmad Reza told through modern Expanded (morning) the volume of investments made by the body during the time of its founding short period from December 2007 until now 74 billion dollars distributed among the various basic facilities such as laboratories in the country, refineries and the development of airports and seaports through local and foreign investors Both ..
He pointed out that Dr. Reda of the most important advantages provided by the investment law for foreign investors and that are beneficial to Iraq are tax exemptions, which extends to nearly 15 years if a foreign investor and an Iraqi partner that could trigger domestic capital and labour, which
Gained extensive experience through its work in those projects ..
He explained that the most prominent of the tasks entrusted to the Authority is the preparation of national investment policies and simplify procedures for issuing permits and investment so as to achieve the required cruise to attract investors as well as private investors and controls contained their rights and how to apply the law as well as Concurs in finding and opening channels of cooperation with the bodies of investment in Abroad to exchange experiences and attract investors.
He called Dr. Reda to broaden the base of investment as a new culture in the Iraqi street, significant investment is the outcome of free economy and therefore for the private sector the leading role in building the national economy and society.
-- Controls for investors
Q: What are the main tasks entrusted to the National Authority for Investment?
--- Preparation of national investment policies and propose simplifying procedures for issuing permits so that the cruise investment required to attract investors.
-- To establish controls and operational rules for investors and contained their rights and how to apply the law according Concurs in addition to the detailed procedures for granting leave and the establishment of investment projects and monitor the application of those controls and procedures for investment projects strategy with federal character.
-- Find channels of communication between the body and similar bodies overseas and exchanging information.
Map prepared investment projects in Iraq
Build confidence in the investment environment.
Develop and implement programmes to encourage investment in all parts of Iraq.
Assess the results of domestic and foreign investment.
Coordination and communication with the investment authorities in the regions and provinces to attract domestic and foreign investments.
-- Attract investors
Q: How can the National Authority for Investment to attract investors?
We have started the National Authority for Investment work in December 2007 has developed in its sixth month that the month of June any information and promotion because we wanted to build internal house first and then starting a media and promotional then and this is what actually happened and within the rigorous application of the plan, and the first to publicize the information process Rafei and functions as the investment is the outcome of free economy and therefore for the private sector role in the community must expand investment arena counter to the new street and officials together, is another aspect that we to promote investment in Iraq through the presence of intensive seminars, conferences and lectures inside and outside Iraq to publicize the merits of Investment and guarantees given to investors may succeed in doing so where we have been able to attract investors Iraqis and non-Iraqis to invest in Iraq and the outcome of that effort was about 74 billion dollars has met many of the businessmen, investors and investment companies and ambassadors and diplomats from the commercial attaches and were eager to hear details of the law and benefits And guarantees carried by the law and this means that our body is on a systematic and clear to attract investors and encourage them to enter the Iraqi market.
Establishment of 200 housing units
Q: Are there any precedence for specific projects such as the housing complexes or hospitals?
-- National Authority for Investment to encourage investments in all sectors of economic production or service and provide necessary facilities as provided by law for all investors, without exception, and by the body it urges investors to projects directly benefit the individual housing complex, as well as hospitals, universities and branches of the global reputation of a good, but we Do not close the door to investment projects in other areas, and in this regard, there are huge projects in the province of Najaf where they will be building 200 thousand housing units as well as in Salahuddin province, Karbala and other well in addition to the government's plan to build modern hospitals in every province except that we are in The National Investor let Iraqis and non-Iraqis to establish hospitals and factories medicines, vaccines and came huge investment projects in this area is under study German-Iraqi Specialist Hospital in Baghdad and the pharmaceutical factory in Samawah and draft a factory for Children's Vaccines.
-- The large port of Basra
Q: How can companies benefit from foreign partner and whether the Iraqi was a direct some foreign companies to work actively in Iraq and whether agreement has been reached with some international companies to work inside Iraq?
-- The National Authority for Investment welcomes investors with Iraqis and non-Iraqis and the door is open for everyone to build Iraq according to controls set by the Investment Law No. 13 in 2006 The Act provided that the tax exemption could be extended to 15 years instead of 10 years if the share of Iraqi partner in the project Up to 50%, this means that most companies want to get an Iraqi partner to take advantage of this feature, and currently there is an Iraqi company with a giant international companies were investing large port of Basra in Ras al-Bishah initial investment cost of up to 13 billion dollars and there is an international company of a group Consortium of any group of international companies combined raised Development Project Baghdad International Airport and city commercial building in all its annexes high investment cost of up to 17 billion dollars, and there is an Arab company with a group of international companies submitted projects b 34 billion dollars to build an integrated city of Najaf Sea hotel chain and the Kufa beach There is also a big investment projects for the Iraqi investor with a group of international companies to build the city of Kut and the new industrial city of Kut investment cost of up to 650 million dollars and a housing compound in Tikrit and other projects in Mhafezataadidh.
-- Impediments and obstacles
* There is a giant industrial enterprises owned by Iraq but stopped working due to lack of funding on one hand and Decrepitude, which struck on the second Is the body a role in attracting investors to rehabilitate?
-- The fact is that these projects are under the supervision of the Ministry of Industry which put controls and conditions for investors given the ministry has held several conferences in this regard and called on the minister of industry investors for the rehabilitation of those factories according to the privileges and controls and that the ministry supports the efforts of the Ministry of Industry in the rehabilitation of these plants .
* What are the most prominent obstacles faced by the body?
- واعـادة البناء.
-- Must each march to face new barriers and obstacles, both in legislation or executive bodies, but we consider the challenges that must be accepted first and we have to face with grace II with a view to overcoming them and not surrender them and this is what we are doing now and what he first faced the challenge in understanding the investment of others Including qualified staff who work in Aliheh as there was four decades in which the public sector and direct government intervention in economic life was not the role of the private sector mentioned only a marginal role, it was compelled to start from the first day in spreading the culture of investment and how it can be for the private sector A positive role in economic life and thus is the second part, we are faced with monetary policy in order to cope with investment and advocacy for Reconstruction and operation of labour and idle because of lifting interest rates which is never in line with the economic situation faced by Iraq since we want to do projects of infrastructure projects for petrochemicals, how can Attract investors and encourage them to invest in light of monetary policy lifted the interest rate between 17 20% did not happen in any country in the world who seek development and evolution, such as what it is Iraq now that we call also asked former stakeholders need to review monetary policy in Iraq And make it in harmony and economic realities of Iraq and be consistent with the need for Iraq to investment and reconstruction.
- خطط سنوية
-- Annual plans
* Generally how you see the economic reality in Iraq and How to read the future?
- ة كالبتروكيمياويات.
-- Iraq is certainly in need of a comprehensive reconstruction as well as to new projects starting from various infrastructure projects and ending large petrochemicals.
وان هناك خططاً منهجية تقوم بها الوزارات المعنية لبناء المشاريع وتوفير الخدمات اللازمة وهي تسير وفقلة.
The plans were systematically carried out by the ministries concerned for building projects and providing necessary services are moving according to annual plans approved, and the National Authority for Investment by the work of attracting domestic and foreign investment to the state for the purpose of establishing private capital projects, and we are fully confident that Iraq's natural economic fundamentals As well as human and capable short time to reach the advanced stages of economic recovery since the Iraq possesses 22% of global oil reserves and also owns approximately 250 billion cubic feet of natural gas in addition to numerous metals and sulphur phosphate, copper and other On the other hand, the agricultural land in the great Iraq And wide and in Iraq Nahrin Arroyo Iraqi land from north to south is in need of an lumbar to get rid of the salt is also distinguished geographical location of Iraq is also considered a major ingredient of the Iraqi economy where the international terminal to transport goods and commodities to different world countries as well as road transport location Cargo to and from Gulf states via road or railway and human resources is one of the best human resources in the world, the proportion who are in age from one to 15 years amounted to 39%, while those aged 15 to 63 years the rate hits 57 % This means that the productive force in Iraq now and in the future at the rate of the total population approximately 97%, this enormous wealth of mankind.
Iraq is indispensable in all its elements and the Division of wealth and I'm very optimistic about the future of Iraq and strongly once the economy will and determination.

Posts : 200
Join date : 2008-07-12
Location : PUERTO RICO

View user profile

Back to top Go down

Back to top

- Similar topics

Permissions in this forum:
You cannot reply to topics in this forum