Kuwait calls on countries participating in the conference to rebuild Iraq to fulfill their obligations

[yota691]

2018/01/22 (00:01 PM)   -   Number of readings: 100   -   Number (4117)

 

 

The government is launching a $ 100 billion infrastructure initiative

 Baghdad / Zahraa al-Jassim 
 

An adviser for investment affairs revealed the Iraqi government's intention to launch the National Initiative for Reconstruction and Development on the establishment of infrastructure projects in the State Administration, and has allocated $ 100 billion. He expressed the hope that this initiative will not fail as its predecessors due to the mismanagement of the projects and the lack of technical capacity and efficiency in its management. He stressed the need to rely this time on international project management companies as specialized in other countries to ensure the success of the initiative and completion of projects and avoid corruption and wasting public money. .

Investment adviser and economic expert Thaer al-Fili said in an interview with Al-Mada: "The reconstruction initiative announced by Prime Minister Haider al-Abadi, called the National Initiative for Reconstruction and Development, was allocated an amount of $ 100 billion over ten years, This is a good amount, but it is certain that this initiative will not succeed under the current administration of the state, for several reasons, the most important of which is that the state failed not only to combat administrative and financial corruption, but also Management of projects, because of lack of The ability of technical competence in project management. He added:
He continued: "The UAE was built by project management companies, but unfortunately, this has not been found today in Iraq, because the state is the one who is doing its own project management so we see failure in everything. But in fact, We have had years of money spent on failed projects, where 15 hospitals were built in Iraq, and we spent billions of dollars on them, and some of those hospitals were equipped in terms of urbanization, but because there is mismanagement, these projects failed, even That some projects have reached devices, but they do not work and there is no operator The color of the reason also lies in the administration that he should take care of everything, even cadres, and so without the presence of the departments of the projects, the National Initiative for Reconstruction and Development will not succeed again in Iraq.
Fili said: We have previous experiences such as the industrial and agricultural initiative all failed, and the failure of the administration and not only due to corruption, so the decision-makers should replace their minds about the country's management for the next phase, this mentality that led us to failure in the investment sector also, 95%. "When the security forces failed to maintain security in Iraq, the administration's failure was in fact, but when the administration replaced the security forces and became strong, they created these forces, although they are the same Iraqis who failed in the previous administration to save the land of Iraq and its borders, Others to win and purge Iraq of terrorism, so we say that the reconstruction initiative will not work unless there are specialized management companies, otherwise the failure this time will be doubled.
The Iraqi government has announced some statistics and figures for the amounts needed by the state to implement reconstruction projects, the expected value according to the latest statement by the President of the Fund for the reconstruction of the affected areas in Iraq, Mustafa al-Hiti, to 150 billion dollars, while the Minister of Planning, Dr. Salman Jumaili , The total cost of reconstruction is 100 billion US dollars, and the economic and investment directions of the government in the next phase of the reconstruction process, aimed at working on sustainable development and the establishment of infrastructure projects.

[Butifldrm]

King invited to Kuwait-hosted rebuild Iraq event next month

His Majesty renews support for Iraq’s stability, unity

By JT - Jan 22,2018 - Last updated at Jan 22,2018

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His Majesty King Abdullah receives Iraqi Prime Minister Haider Al Abadi's special envoy, chief of the Iraqi National Intelligence Service Mustafa Kadhimi, in Amman on Monday (Photo courtesy of Royal Court)

AMMAN — His Majesty King Abdullah on Monday received an official Iraqi invitation to participate in the Kuwait-hosted conference on reconstructing Iraq on February 12-14, a Royal Court statement said.

During a meeting with Iraqi Prime Minister Haider Al Abadi's special envoy, chief of the Iraqi National Intelligence Service Mustafa Kadhimi, His Majesty stressed Jordan's support for Iraq to achieve stability, unity and the efforts exerted by the Iraqi government to achieve development and build a bitter future for its people.

The international event will focus on rebuilding the parts of Iraq devastated by the war against the Daesh terror group, the state-run Kuwait News Agency (KUNA) said.

Iraqi Prime Minister Haider Al Abadi last month declared victory in the war against the militants, who controlled as much as a third of Iraq’s territory three years ago. 

Iraq needs at least $100 billion in assistance to rebuild homes, businesses and infrastructure including oil and telecommunications facilities, KUNA said.

http://www.jordantimes.com/news/local/king-invited-kuwait-hosted-rebuild-iraq-event-next-month

[Butifldrm]

Abadi agrees with a Kuwaiti proposal on the mechanism of granting corporate investment licenses

 

energy

Economy News _ Baghdad Prime Minister Haider al-Abadi on Tuesday approved a Kuwaiti proposal to grant certain facilities in the granting of investment licenses to companies participating in the Iraq reconstruction conference in February. The official Kuwaiti news agency quoted Abadi as saying during a reception with a Kuwaiti media delegation and his follow-up, "Economy News" that "the government formed a supreme investment committee under my presidency to be the only window to the investor and divert them from resorting to more than one to obtain investment licenses." Abadi welcomed the proposals presented by the Kuwaiti media delegation, which include granting certain facilities in the mechanisms of granting investment licenses to companies participating in the conference of reconstruction of Iraq in Kuwait. He pointed out that "the proposal needs parliamentary legislation that defines mechanisms and controls." He called on Kuwaiti investment companies to "enter the Iraqi investment arena, pointing out that his government has taken several measures to reduce the bureaucratic procedures in dealing with investors."   http://economy-news.net/content.php?id=10759

[yota691]

Jabbar al-Alluaibi: Kuwait conference is a quantum leap for the opening of Iraq to countries and international companies

By

 rami

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January 23, 2018

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Oil Minister Jabbar al-Luaibi said on Tuesday that the Kuwait International Conference for the Reconstruction of Iraq, to be hosted by Kuwait in mid-February, represents a quantum leap for the opening of Iraq to international countries and companies and its advancement through the Kuwait Gate.
Al-Allaibi said in a statement to Kuwait News Agency (KUNA) that the importance of the conference is to bring investment and capital for the reconstruction of the country.
He added that the conference will include investment in various sectors, especially that Iraq is on the way to large and large projects and needs the appropriate infrastructure for this and expressed optimism about the success of the conference to be held in Kuwait.
He pointed out that the reconstruction of the country is not only open the doors of investment to companies with the ability and long experience in the areas and paths of reconstruction.

[yota691]

Al-Jaafari: The Kuwait conference is a humanitarian step in the world

Editorial Date: 2018/1/23 12:24 • 98 times read

[Oan- Baghdad] 
discuss the Iraqi Foreign Minister, Ibrahim al - Jaafari, with the Kuwaiti media delegation headed by Adnan Khalifa Al - Rashed, and the presence of the President of the Arab Journalists Union of Iraqi Journalists Syndicate pro - Lami, more closer bilateral cooperation in the media field and the positive role of the media in promoting relations between the two peoples The two brothers.

"The relationship with Kuwait is a relationship established by the unity of interests and destiny," a statement from his office said. "Jaafari spoke about aspects of the bilateral relations between the two countries and their importance in light of the historical ties between the two peoples." 
He praised "the positive development in relations in the recent period, and Kuwait's keenness on the stability of Iraq, and the implications for further development and deepening cultural, commercial and economic relations." 
"We have used the good initiatives from Kuwait, and we hope that they will continue to support Iraq," Jaafari also praised the Iraq reconstruction conference to be hosted by Kuwait in February.
He pointed out "the recovery of the Iraqi regional role and its restoration to its place in the region, which represents a great asset for the Arab nation to face the serious challenges it faces and preserve its territorial integrity." 
For his part, the Kuwaiti media delegation "stressed the continued support of Kuwait to Iraq in various fields," noting that "Iraq is the closest to Kuwait culturally and socially." He pointed out that "media coverage of the work of the donor conference for Iraq's support will be very broad to mobilize support for the Iraqi people."

[TOMINVEGAS]

If they don’t do something with the monetary reform soon, I will become convinced for the most part that I’ve been taken for a long ride to nowhere. Been made a fool of for sure. All the articles talking about lower denoms, revaluation, international status etc etc that have come out over the years have certainly kept me hopeful , but now I am thinking they were meant to deceive.........to keep all their corruption and bs afloat......Always something to keep us hopeful (now it’s the reconstruction  etc)..... I always have to remind myself, Iraq is the country of bs.... and it smells to high heavens..... (yes, the smell test).... if it smells like bs, it probably is..... and I think I’ve been smelling it for quite awhile now. I’ll give them until January, yes one more January, before I flush the toilet and walk away from this smelly mess for good. ( I’ll stick around that long to see if the corrupt and rotten to the core GOI and CBI get this done)  Square block round hole, round and round we go..... And if I’m well enough off by that time I will do a YouTube video of me burning millions in Dinar. Gasoline, Dinar, and a lighter. You won’t want to miss it. I’m not joking. 

[yota691]

National Investment: The Kuwait Conference will witness the presentation of 157 strategic and medium projects

 

Economy News _ Baghdad The National Investment Authority announced on Tuesday that the investment opportunities to be presented at the Kuwait International Conference will reach 157 projects, indicating the projects will be strategic and medium. "During the Kuwait International Conference for the Reconstruction of Iraq, which will be held in Kuwait from February 12 to 14, 157 projects will be presented to all sectors of the Iraqi economy," the agency said in a statement received by the Economist News. "The projects that will be presented will be the major strategy and the other medium, including oil and gas, transport, housing and agriculture." The Authority pointed out that "the most important major strategic projects to be offered for investment are the sector of fertilizers and petrochemicals and the transport sector of railways, airports, tunnels and highways, in addition to the housing sector, while the medium projects will include the sectors of engineering, health, education, agriculture, tourism and tourism. The Kuwait International Conference is scheduled to be held for the period from 12 to 14 of next February and will be dedicated, the first day will be devoted to the presentation of investment opportunities in Iraq, and will devote the other days to collect $ 100 billion for the reconstruction of liberated cities and will participate in the conference 70 countries, Including the World Bank. Views 292   Date Added 01/23/2018

[yota691]

Abadi agrees with a Kuwaiti proposal on the mechanism of granting corporate investment licenses

 

Economy News _ Baghdad Prime Minister Haider al-Abadi on Tuesday approved a Kuwaiti proposal to grant certain facilities in the granting of investment licenses to companies participating in the Iraq reconstruction conference in February. The official Kuwaiti news agency quoted Abadi as saying during a reception with a Kuwaiti media delegation and his follow-up, "Economy News" that "the government formed a supreme investment committee under my presidency to be the only window to the investor and divert them from resorting to more than one to obtain investment licenses." Abadi welcomed the proposals presented by the Kuwaiti media delegation, which include granting certain facilities in the mechanisms of granting investment licenses to companies participating in the conference for the reconstruction of Iraq in Kuwait, pointing out that "the proposal needs parliamentary legislation that defines mechanisms and controls." He called on Kuwaiti investment companies to "enter the Iraqi investment arena, pointing out that his government has taken several measures to reduce the bureaucratic procedures in dealing with investors." Views 52   Date Added 01/23/2018

[Synopsis]

15 minutes ago, TOMINVEGAS said:

If they don’t do something with the monetary reform soon, I will become convinced for the most part that I’ve been taken for a long ride to nowhere. Been made a fool of for sure. All the articles talking about lower denoms, revaluation, international status etc etc that have come out over the years have certainly kept me hopeful , but now I am thinking they were meant to deceive.........to keep all their corruption and bs afloat......Always something to keep us hopeful (now it’s the reconstruction  etc)..... I always have to remind myself, Iraq is the country of bs.... and it smells to high heavens..... (yes, the smell test).... if it smells like bs, it probably is..... and I think I’ve been smelling it for quite awhile now. I’ll give them until January, yes one more January, before I flush the toilet and walk away from this smelly mess for good. ( I’ll stick around that long to see if the corrupt and rotten to the core GOI and CBI get this done)  Square block round hole, round and round we go..... And if I’m well enough off by that time I will do a YouTube video of me burning millions in Dinar. Gasoline, Dinar, and a lighter. You won’t want to miss it. I’m not joking. 

 

Hey TomInVegas -

 

This certainly is a frustrating IQD speculative investment. There were and are no guarantees to speculative investors to meet their particular frame of reference. The position I have held for myself and others is each person needs to make their own assessment of needs, wants, and desires and then act accordingly. The degree of frustration is nearly certainly guaranteed with regard to this speculative investment. When I decided to invest, I knew it could be a very short or a very, very long term speculative investment. The main difference to me is having the bone fide IQD currency in hand. This is not a paper investment where the terms on the paper could prove inviable. My opinion is Iraq is both strategically located and is rich in mineral resources that include crude oil. To me, this is a huge world wide economic potential both for the goods run through Iraq and the natural resources harvested from Iraq. The Iraqi Dinar was devalued due to Saddam Hussein's practices. Iraq today is showing itself as a completely different country and is being recognized as a Sovereign State by other countries. The move from the Prehistoric/Stone Age financial system to an ultra modern financial system by Iraq is a means to circumvent the corruption practiced today when fully implemented. There are many, many moving parts to this speculative investment, even internationally, and there are times and conditions that appear to be more favorable than others.

 

Likely, the best thing today is make a personal evaluation of IQD holdings considering needs, wants, and desires then act accordingly. Even though a loss, the likely next best alternative to holding IQD is to find a buyer. I know this is all very frustrating but in reality this IQD speculative investment is something where frustration, even extreme at times, is fully anticipated. Also, this could be a much longer wait so likely all need to hope for the best and plan for the worse. I believe the times we are experiencing now are very optimistic but the wait could also be longer - for whatever reason.

 

In the mean time.................................................................

 

Go Moola Nova!

 

 

[yota691]

Specialist: Consolidated loans involve the private sector for reconstruction

24/1/2018 12:00 am  BAGHDAD / Mustafa al-Hashemi  The news started to indicate the wishes of several major industrial countries such as Germany and France in the reconstruction of the country, especially after the preparations for the Iraq reconstruction conference in Kuwait in February and these countries - according to specialist - know that reconstruction means to move their economies and industries and improve the incomes of citizens and modify Balance of payments for projects to be implemented in accordance with government contracts. Sharpening the impact of the academic economist Dr. Issam Mohammed Hassan that "the calculations of those countries are accurate in the field of reconstruction, which makes it not only sharpen the now, but since the terrorism hit cities from Iraq, to ensure later its share in the operation and start the reconstruction movement in the areas destroyed by Terrorism ". "These countries will submit their bids for their construction and industrial companies to start the work and operation phase," Hassan said. "The problem of financing new projects will appear especially in the financing and supervision of payment." Government funding continued "The answer to some will be ready, which is the government in accordance with the payment mechanisms known for infrastructure projects," explaining that "the government comes with funding from oil resources or from the sale of sovereign bonds, any borrowing." "The possibility of breaking the axioms of these ideas with a new idea to contribute to the government and the involvement of the private sector financially in the reconstruction through the establishment of a banking committee of private banks for the purpose of financial contribution to the process of providing liquidity to the government and the adoption of the method of syndicated loans." Banking committees Hassan suggested that "the committee consists of all private banks and with the approval of the Ministry of Finance to contribute each bank a certain amount of money to be funded projects that the government believes that they benefit from this funding available by local banks to take their role seriously in the development process."  And the need to "participate in the financial discussions that will be entered by the government with foreign banks for the purpose of fixing the mechanisms of financing and exchange of foreign banks have the expertise can be used and used in this area, and get the banks in the Committee on the profits in accordance with the agreement with the government."  He pointed out that "this committee will be a fund (fund), which collects contributions and then disbursement according to the government perspective, which will make private banks stand in the line of the first reconstruction of her country to launch through it to the portal of real development in its new role.

[yota691]

Iraq praises Kuwait's brotherly support

24/1/2018 12:00 am  Baghdad / Al- Sabah  praised Iraq 's role in Kuwaiti support, by hosting the donors ' conference for the reconstruction and stressed the Prime Minister, Haider al - Abadi, the importance of strengthening relations between the two countries in all fields, adding that the conference gives a message to Arab countries and the international community to support the reconstruction of the country, While the delegation of the Kuwaiti media, which is visiting Baghdad, the role of the government in the promotion of bilateral relations. A statement from his office, received by the «morning», that «the Prime Minister, received the Kuwaiti media delegation in the presence of the captain of Iraqi journalists, Muayad al-Lami». Abadi stressed, according to the statement, «the importance of strengthening relations between Iraq and Kuwait in various cultural, media, social and popular, which increases the depth of the relationship between the two neighboring peoples».  The prime minister said that "Iraq has emerged victorious over gangs and called for terrorism, after the threat was threatening all the countries of the region," noting that "the Iraqis have won their unity and achieved what the world called a miracle."  Abadi said, "The importance of the Kuwait conference for the reconstruction of Iraq because it gives a message of support for Iraq's brothers after his victory on the organization of the criminal advocate, as well as the support of the international community to the country, and that the Iraqis are not alone."  For his part, praised the Kuwaiti media delegation, "the great role of the government in strengthening relations, as well as the victory over the promotion and exclusion of the danger from the region. The delegation also conveyed the greetings of the Kuwaiti Prime Minister and the keenness of the Kuwaiti government and people to develop and strengthen relations between the two countries."  Jordanian King Abdullah II also received an official invitation from Prime Minister Haider al-Abadi to participate in the International Conference on Iraq Reconstruction, to be hosted by Kuwait next month.  "King Abdullah II received at the Palace of Husseiniya, the special envoy of the prime minister, the head of the intelligence service, Mustafa al-Kazemi, who handed over an official invitation from Abadi to participate in the International Conference on Iraq Reconstruction hosted by Kuwait," Petra news agency reported.  She added that «the King renewed Jordan's support for the stability and unity of Iraq, and stressed the importance of the efforts of the Iraqi government to achieve development and build a better future for the country».  Meanwhile, Vice President Nuri al-Maliki praised the positions of the sisterly state of Kuwait in support of the country, expressing the hope that the donor conference will come out with decisions supporting major infrastructure projects. "The Vice President of the Republic received the Kuwaiti media delegation in his office. Maliki welcomed the delegation and thanked him for his great attention and then started his talk about the future of Iraqi-Kuwaiti relations which flourished under the previous government," he said. The two brothers », explaining that« between the two countries are many participants and the media to work to consolidate those participants ».  The Deputy President of the Republic praised Kuwait's support for the Iraqi people and expressed his hope that the reconstruction conference would go ahead with decisions supporting the establishment of major infrastructure projects throughout the country according to the payment program instead of receiving compensation and grants. And has the capacity and potential to qualify for the success of the process of construction and reconstruction, and that the experience of Japan to establish projects in Iraq was successful and distinct ». He pointed out that "Iraq succeeded in thwarting the sabotage schemes that were aimed at its unity thanks to the great cohesion shown by the Iraqi people." He continued that the great victory achieved was thanks to the fatwa of Jihad Alkafaip, and thanks to the response of the Iraqi people to this fatwa, Is to hold elections and go on forming a government capable of meeting the requirements of all Iraqis ».  On the same occasion, Iraqi Foreign Minister Ibrahim al-Jaafari discussed with the Kuwaiti media delegation headed by Adnan Khalifa Al-Rashed, in the presence of the Iraqi Journalists Syndicate Muayyad al-Lami, further strengthening bilateral cooperation in the media field and the positive role of the media in promoting relations between the two brotherly peoples. "The two sides discussed during the meeting the progress of bilateral relations between the two countries and their importance in light of the historical ties between the two peoples. The relationship with Kuwait is a relationship established by the unity of interests and destiny," the statement said.  Jaafari praised the "positive development in relations in the recent period, and the keenness of Kuwait on the stability of Iraq, and the implications for the further development and deepening of cultural, commercial and economic relations."  "We are accustomed to good initiatives from Kuwait, and we hope that it will continue to support Iraq," he said.  The Kuwaiti delegation stressed Kuwait's continued support for Iraq in various fields and that Iraq is the closest to Kuwait culturally and socially. He added that the media coverage of the work of the donor conference on supporting Iraq will be very broad to mobilize support for the Iraqi people. Meanwhile, Iraqi Oil Minister Jabbar al-Luaibi said the Kuwait International Conference on Iraq Reconstruction, which will be hosted by Kuwait, represents a qualitative leap forward for the opening of the country to international countries and companies.  Al-Allaibi said in a press statement on the sidelines of his meeting with the Kuwaiti media delegation visiting Baghdad that "the importance of the conference is to bring investment and capital to the reconstruction of the country."  The minister added that the conference will include investment in various sectors, especially that Iraq is about to establish large and large projects and needs the appropriate infrastructure for this, expressing optimism about the success of the conference to be held on the land of Kuwait. Al-Luaibi said that «the reconstruction of the country is not only open the doors of investment to companies with the ability and long experience in the areas and paths of reconstruction», noting «the distinguished relations between Iraq - Kuwait in the field of energy, as well as ongoing discussions in the field of gas investment and will cooperate in To supply Kuwait with quantities of Iraqi gas ». The delegation includes Deputy Editor-in-Chief of the Editorial Sector, Editor-in-Chief of Kuwait News Agency (KUNA) Saad Al-Ali, Secretary of the Kuwaiti Journalists Association, Coordinator of the visit Adnan Al-Rashed, Assistant Undersecretary for Foreign Media in the Kuwaiti Ministry of Information Faisal Al- The editor of the newspaper "Al-Qabas" Ibrahim al-Saidi, the correspondent of the newspaper (witness) Mohammad al-Ajmi, and the correspondent of the newspaper (the newspaper) Waleed Al-Hulan, and the editor in (KUNA) And the director of the Arab media in the foreign media sector Talal Al-Mushaiti.  The conference is scheduled to be held from February 12 to 14 with the participation of a number of donor countries and international and regional organizations and will be chaired by five parties - the European Union, Iraq, Kuwait, the United Nations and the World Bank.

[yota691]

2018/01/24 (00:01 PM)   -   Number of readings: 14   -   Issue (4119)

 

 

Abadi calls on Jordan to participate in donor conference

 Baghdad / Range 
 

Jordan's King Abdullah II received Monday an invitation from Prime Minister Haider al-Abadi to participate in the International Conference on the Reconstruction of Iraq, which will be hosted by Kuwait next month. The Jordanian news agency Petra said that the Jordanian monarch affirmed in his meeting with al-Kazimi his country's support for Iraq's stability and unity and praised the Iraqi government's efforts to achieve development and build a better future for the Iraqi people.

[Synopsis]

1 hour ago, yota691 said:

Al-Allaibi said in a press statement on the sidelines of his meeting with the Kuwaiti media delegation visiting Baghdad that "the importance of the conference is to bring investment and capital to the reconstruction of the country." 
The minister added that the conference will include investment in various sectors, especially that Iraq is about to establish large and large projects and needs the appropriate infrastructure for this, expressing optimism about the success of the conference to be held on the land of Kuwait.

 

Too much to pick out here! Looks like the Kuwaiti Donor Conference February 12-14 is a key milestone. Not sure if IQD implications are involved up to, during, or after the Kuwaiti Donor Conference but it sure looks good!

 

Go Moola Nova!

[yota691]

24-01-2018 12:51 PM

Iraq unveils launch of "important" document at Kuwait conference

 

 

 

The Secretary-General of the Council of Ministers, Chairman of the National Reconstruction Team, Mehdi Alalak, on Wednesday, about 150 investment opportunities in all provinces within the work of the "Kuwait International Conference" to be held on the 12 of next month, Mission "during the conference . 

Al-Alak said in an interview with the official newspaper "Sabah" that "the conference on the reconstruction of Iraq, which will last for two days will focus on achieving three main goals," explaining that "the first goal is focused on reconstruction in all areas of Iraq, While the humanitarian aspects and peaceful coexistence will be the third objectives of the conference . "

"The investment opportunities will be the backbone of this conference, as the National Investment Authority and the International Finance Corporation of the World Bank prepared a full package of investment opportunities will be presented As part of the second day of the conference . "

The Secretary-General of the Council of Ministers pointed out that "there are about 20 major investment opportunities and strategic within those opportunities, offset by a great desire by the international companies to come and enter the investment sector in Iraq, either as a private sector or partnership with the public sector, so there are great aspirations to view investment opportunities and what will result From the definition of it and what it represents a good start to revitalize the economic movement in Iraq . "

 

Al-Aalak added that "reconstruction will refer to the level of destruction that happened to the areas that raped them (Al-Da'ash)" pointing out that "we have an important document indicating the volume of damage will be launched at the conference, to draw attention to that part of what was destroyed and damaged in those provinces will be transferred to investment activity Such as industrial and agricultural facilities and some other productive and service activities that could be offered as investment opportunities to activate their rehabilitation "

[yota691]

National Investment Authority: Kuwait conference will see the launch of three oil refineries in front of investors

Economie

12:59

Last updated

01:08 PM

144

Watch

 

 

 

BAGHDAD / 
The National Investment Commission revealed on Thursday that Iraq intends to put three oil refineries for investment during the Kuwait conference for the reconstruction of Iraq to be held next month. 
The agency said in a statement received "Al-Gharab Press", a copy of it, "Iraq intends to put three refineries for investment during the Kuwait conference for the reconstruction of Iraq, which will be held in February, indicating that the implementation will be the system" BOT "or" BOO, "pointing out that" Kuwait International Conference will be held for the period from 12 to 14 February next three refineries for oil refining and different cards for investment.
"The refineries will include the Faw refinery in Basra with a capacity of 300,000 barrels per day, while the second will be in Anbar province with a capacity of 150,000 barrels per day, in addition to the refinery of Nasiriyah in the province of Dhi Qar with a capacity of 150 thousand barrels." 
"The proposal for implementation will be BOT or BOO under the Crude Oil Refinement Law No. 64," the TRA said. 
It is worth mentioning that Iraq has three large refineries, the Doura Refinery, the Basra Refinery, the Baiji Refinery, as well as 10 other small oil refineries scattered in several Iraqi governorates and a number of refineries in the Kurdistan region.

[yota691]

Washington Ambassador to Baghdad: 400 international companies will participate in the donor conference in Kuwait

 

 Since 2018-01-25 at 11:55 (Baghdad time)

Baghdad Mawazine News

Minister of Planning and Minister of Trade Salman Jumaili announced that the Iraqi government has completed its preparations for the donor conference in Kuwait, indicating that the national document for the reconstruction of liberated areas will be presented at the conference. The Ambassador of Washington to Baghdad Douglas Silliman revealed the participation of 400 international companies in the conference and the desire of 100 American companies To enter and invest in Iraq.

This came during a meeting to discuss the preparations for the convening of the Kuwait Conference for the reconstruction of Iraq, US Ambassador Douglas Seelman and the Minister of Planning d. Salman al-Jumaili, who confirmed that the Iraqi government has completed its preparations for the conference as the national document for the reconstruction of liberated areas will be presented.

"The Iraqi government has completed its preparations for the conference as the national document for the reconstruction of the liberated areas will be presented in addition to a comprehensive report on the size and assessment of the damage caused to those areas, in addition to a file that represents," said a statement issued by the Ministry of Planning. Investment opportunities available in Iraq, "noting that" the stage of reconstruction will rely heavily on partnership with the private sector in the implementation of strategic projects. "

He called on friendly countries, including the United States of America, to support Iraq in the reconstruction process with the level of support it provided during the war against the land reform and liberation, stressing that "the security situation in all of Iraq is now in a better situation but we need sustainable security in the economic, cultural, In order to rebuild the society properly and provide the requirements of a decent life and the absorption of young people through the provision of jobs suitable for them.

Jumaili added that "the ministry has identified the sectors and priorities of the projects for the next phase and drew a clear map of the investment that can meet the needs of development and society," pointing to "the existence of a desire to many large international companies to enter and invest in Iraq in accordance with new methods and sophisticated away from traditional methods will Investment in all fields, including railways, roads, schools, hospitals, phosphate, glass sand, sulfur and gas in accordance with preferential conditions that would encourage investors and attract investment companies.

For his part, US Ambassador Douglas Suleiman said that "his country will be strongly supportive of the Kuwait conference and mobilize international support for Iraq to obtain the required support."

He revealed that "more than 100 large US companies are ready to enter and invest in Iraq." He pointed out that "more than 400 international companies will participate in the Kuwait conference for the reconstruction of Iraq."

"His country continues to support the efforts of the Iraqi government to provide stability to the displaced persons returning to their areas, especially in the city of Mosul, there are about 400 thousand displaced people still living in the camps."

"These people need to rehabilitate their homes and provide the basic necessities of life."

"The United States supports the efforts of the Iraqi government to hold the parliamentary elections on time and support the Electoral Commission in performing its tasks to make these elections successful," he said.

On the other hand, the two sides stressed the implementation of memorandums of understanding between the two countries in the field of supplying wheat and rice to Iraq, as the first shipment of wheat will arrive soon and will be announced new tenders in the coming days.

is over

M

[TOMINVEGAS]

[TOMINVEGAS]

On 1/22/2018 at 3:55 AM, yota691 said:

2018/01/22 (00:01 PM)   -   Number of readings: 100   -   Number (4117)

 

 

The government is launching a $ 100 billion infrastructure initiative

 Baghdad / Zahraa al-Jassim 
 

An adviser for investment affairs revealed the Iraqi government's intention to launch the National Initiative for Reconstruction and Development on the establishment of infrastructure projects in the State Administration, and has allocated $ 100 billion. He expressed the hope that this initiative will not fail as its predecessors due to the mismanagement of the projects and the lack of technical capacity and efficiency in its management. He stressed the need to rely this time on international project management companies as specialized in other countries to ensure the success of the initiative and completion of projects and avoid corruption and wasting public money. .

Investment adviser and economic expert Thaer al-Fili said in an interview with Al-Mada: "The reconstruction initiative announced by Prime Minister Haider al-Abadi, called the National Initiative for Reconstruction and Development, was allocated an amount of $ 100 billion over ten years, This is a good amount, but it is certain that this initiative will not succeed under the current administration of the state, for several reasons, the most important of which is that the state failed not only to combat administrative and financial corruption, but also Management of projects, because of lack of The ability of technical competence in project management. He added:
He continued: "The UAE was built by project management companies, but unfortunately, this has not been found today in Iraq, because the state is the one who is doing its own project management so we see failure in everything. But in fact, We have had years of money spent on failed projects, where 15 hospitals were built in Iraq, and we spent billions of dollars on them, and some of those hospitals were equipped in terms of urbanization, but because there is mismanagement, these projects failed, even That some projects have reached devices, but they do not work and there is no operator The color of the reason also lies in the administration that he should take care of everything, even cadres, and so without the presence of the departments of the projects, the National Initiative for Reconstruction and Development will not succeed again in Iraq.
Fili said: We have previous experiences such as the industrial and agricultural initiative all failed, and the failure of the administration and not only due to corruption, so the decision-makers should replace their minds about the country's management for the next phase, this mentality that led us to failure in the investment sector also, 95%. "When the security forces failed to maintain security in Iraq, the administration's failure was in fact, but when the administration replaced the security forces and became strong, they created these forces, although they are the same Iraqis who failed in the previous administration to save the land of Iraq and its borders, Others to win and purge Iraq of terrorism, so we say that the reconstruction initiative will not work unless there are specialized management companies, otherwise the failure this time will be doubled.
The Iraqi government has announced some statistics and figures for the amounts needed by the state to implement reconstruction projects, the expected value according to the latest statement by the President of the Fund for the reconstruction of the affected areas in Iraq, Mustafa al-Hiti, to 150 billion dollars, while the Minister of Planning, Dr. Salman Jumaili , The total cost of reconstruction is 100 billion US dollars, and the economic and investment directions of the government in the next phase of the reconstruction process, aimed at working on sustainable development and the establishment of infrastructure projects.

 

 

Reposting this his great article that Yota posted. Thaer al-Fili is telling it like it is RIGHT NOW in Iraq. ALL the government is comprised of THIEVES. There will need to be major controls for this to succeed and he recommends bypassing the government altogether basically to ensure it gets done. 

[Laid Back]

 

 

Just a reminder...... Iraq is ten times richest than Kuwait 

 

kuwaiti dinar value $3.34

 

Looks like Kuwait knows Iraq will be the next powerhouse in the ME

 

Go iraq

Go new monetary policy 

Go former glory

 

 

[Wiljor]

3 hours ago, Laid Back said:

 

 

Just a reminder...... Iraq is ten times richest than Kuwait 

 

kuwaiti dinar value $3.34

 

Looks like Kuwait knows Iraq will be the next powerhouse in the ME

 

Go iraq

Go new monetary policy 

Go former glory

 

 

 

Laid Back, 

I concur brother, Iraq will be the powerhouse of the ME. 

[10 YEARS LATER]

I'd like my Bank Account to be in Powerhouse mode 

[new york kevin]

11 minutes ago, 10 YEARS LATER said:

I'd like my Bank Account to be in Powerhouse mode 

Me too. 10 Years, and thanks for the reminder Laid Back. Did you need the "soon" sign Edith? Did Ya's ? Gees.

[Butifldrm]

 

 

It's a very interesting history, how Kuwait weighted the value of their currency through out time.  Kuwait has the highest currency value on the planet for many reasons, but to it's detriment, the highest value  comes at a cost when you are trying to keep up with lower oil revenues, and develop markets for exports other than oil.  Kuwait must invest it's money wisely!  They might see Iraq as a very good investment.   Iraq's oil reserves are much greater.  When oil was over $100 dollars a barrel and that's your only export, life was grande for Kuwait, because of the limited  population, a little over 4 million people with all that oil.  Most Kuwaiti's still today think that they are above economic ruin, but there is a sentiment going on now within all the oil producing countries for a need to develop secondary markets, markets that produce jobs, these oil producing countries can no longer rely on the premise that they can take care of their  populations  by pumping oil alone. So, I find it very interesting why Kuwait has taken such interest in Iraq?   Advisers, to Iraq have been telling the Iraqi government this for years.  The government had been consumed with corruption . No one in their right mind would want to invest, but Iraq has recently passed some laws and made agreement with countries to improve the climate for investment.   Iraq, previously and even recently up to full Chapter VII released has been viewed internationally viewed as an aggressor nation.  Now it appears the tide has changed,  Yet, it appears the international community has taken an eye to Iraq.  We will have see what type of investment contracts come.  .  Remember,  Iraq has a population of close to 39 million, almost ten times the population of Kuwait, this affects the value.  Iraq has a lot more oil, affects the value!    Iraq, just like Kuwait is an importer nation, other than oil.  A stronger currency would be to their benefit.    Pay attention to how the currency was valued.  Go back and look at all of the contracts with different countries that have already been signed into law by the GOI and Parliament.  Also pay attention to the World economy thread and especially the fluctuations/changing of currencies! The dollar!  Pray Abadi wins this election! I don't think we would be at this point if Maliki were in office.

 

Exchange Rate Policy

 

• Overview
• Average

 

CBK's policy for the Kuwaiti Dinar (KD) exchange rate aims at maintaining and enhancing the relative stability of the KD against other currencies, and shielding the domestic economy against the impacts of imported inflation. These responsibilities reflect the importance of the exchange rate policy in the Kuwaiti economy where no restrictions are imposed on the movement of capital.

During the period from 18 March 1975 to the end of the year 2002, CBK adopted an exchange rate policy pegging the KD to a weighted basket of major currencies. That policy based the determination of the KD exchange rate on a special weighted basket of currencies of the countries that have significant trade and financial relations with the State of Kuwait. This policy proved to be effective in achieving a high degree of relative stability of the KD exchange rate against major world currencies.

Between 5 January 2003 and 19 May 2007, the KD was pegged to the US Dollar according to the Decree No. 266/2002 stipulating the peg of the KD exchange rate to the US Dollar within margins around a parity rate effective the beginning of the year 2003. The Governor at that time, H.E. Sheikh Salem Abdulaziz Al-Sabah, announced the parity rate of the KD exchange rate against the US Dollar for the first day of business in January 2003 corresponding to Sunday 5 January 2003. The exchange rate was set at 299.63 fils per dollar with margins of ±3.5%. This parity rate was set based on the same principles and considerations approved historically by CBK in determining the KD exchange rate under the previous system of the currency basket in order to ensure a smooth change from the currency basket peg to the dollar peg within margins.

Effective 20 May 2007 by virtue of the Decree No. 147/2007, the KD exchange rate was repegged to an undisclosed weighted basket of international currencies of Kuwait's major trade and financial partner countries. Reverting to the exchange rate policy followed prior to 2003 aims at protecting the purchasing power of the national currency and containing inflationary pressures affecting the local economy, after having exhausted all attempts to absorb the adverse effects of US Dollar depreciation against major currencies for an extended period of time.

 

http://www.cbk.gov.kw/en/monetary-policy/exchange-rate-policy.jsp

 

 

[yota691]

Abadi and the President of the World Bank discussed the preparations for the Iraq reconstruction conference in Kuwait

By

 rami

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January 25, 2018

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Prime Minister Haider al-Abadi on Thursday discussed with World Bank President Jim Young Kim preparations for the Iraq reconstruction conference in Kuwait.
The Prime Minister’s Information Office said in a statement that Abadi “met on the sidelines of the World Economic Forum in Davos, World Bank President Jim Young Kim.”
“The meeting discussed the cooperation between the World Bank and Iraq and preparations for the conference on the reconstruction of Iraq in Kuwait and a number of topics and other files.”
It is noteworthy that the State of Kuwait is scheduled to witness during the month of February next to host a conference of donor countries to support the reconstruction of Iraq after the liberation of its territory from terrorism, and includes the conference to submit a report by the Iraqi government on the amount of destruction and the amounts required to complete reconstruction projects, according to Secretary General of the Council of Ministers Mahdi Alaq Iraq needs about 100 billion dollars to rebuild the service infrastructure in the liberated areas, and it is hoped that the conference will include the presentation of international investment opportunities to companies participating in it.

[yota691]

Riyadh: We will participate in the reconstruction of Iraq, but on condition

 

Emaar Construction Economy News _ Baghdad Saudi Arabia is ready to give financial aid to the reconstruction of Iraq but is waiting for assurances from Baghdad on the fate of the grant, a member of the Saudi cabinet's advisory committee said. "The Kingdom has indicated its readiness to participate in the upcoming Iraq reconstruction conference (12-14 February), but with several conditions, it has not yet been named, but I believe that the Saudi government wants the Iraqi decision to be sovereign," Sputnik quoted Eshki as saying. "The kingdom wants to know where the grant money will be used." The Saudi official stressed that "Saudi Arabia will not hesitate to help Iraq," noting that "it provides assistance to many countries with the guarantees of the World Bank and other international parties, to reassure the fate of Saudi assistance." The Emir of Kuwait, Sheikh Sabah Al-Ahmad Al-Sabah, announced last year that his country will host an international conference for the reconstruction of the liberated areas of Iraq, "Daash", in the first quarter of 2018. The conference will be chaired by Kuwait, Iraq, the European Union, the United Nations and the World Bank. More than 70 Arab and foreign countries and a regional and international donor organization are expected to participate in the conference. According to estimates by the Iraqi government and the World Bank, it will cost the reconstruction of what was destroyed by the war on "urging" 100 billion dollars. Views 48   Date Added 01/28/2018