Saleh proposes to establish a fund to invest in Iraq

[yota691]

Saleh proposes to establish a fund to invest in Iraq

09:29 - 07/01/2018

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Information / Baghdad ..

The head of the Coalition for Democracy and the Kurdish political justice Barham Salih, on Sunday, proposed the establishment of an "investment fund" to finance the infrastructure projects and reconstruction of the regions, while noting that Iraq is a chance through comprehensive solutions that put things in perspective.

"The unity and security of Iraq and the defeat of extremism are dependent on the strengthening of the infrastructure of the association and the development of development integration between the different regions of the country and between Iraq and its regional neighborhood," Saleh said in an article published by the official newspaper Al-Sabah. , In addition to creating jobs for young people. "

 "The establishment of the investment fund and its offer to the local subscription first, where every Iraqi citizen has the right to participate, provided that the state allocates a certain percentage of oil imports (for example, 5 percent annually) to support it," Saleh said.

He added that "Iraqi and foreign private sector companies can participate in the fund as well as international financial institutions, donor countries and sovereign funds. The fund will fund economically viable strategic infrastructure projects such as Basra port, highway network, railways, airports and irrigation projects. In the Plain of Nineveh, Germain and Erbil, land reclamation in the south, industrial cities and dams. "

"In addition to its internal role, the fund can participate in the financing of infrastructure projects linking the countries of the region. Iraq is an important strategic axis in which the Arab world, Iran and Turkey join together, linking the economies of the Gulf and Europe, and could be the heart of the new Silk Road to the Mediterranean Sea, and Iraq is the center of energy production.

Saleh pointed out that "similar experiences in Thailand, Vietnam and India, which attracted investment funds from sovereign funds in Japan, China and the Gulf," pointing out that "the investment fund must be a special law and be independent of the government and managed by a professional body and away from political debates And the members of its administrative body are professional candidates from the government and approved by the parliament and serve for a period of 6 years so as not to be governed by electoral considerations.

The IMF should participate in the management of international financial institutions such as the International Monetary Fund, the World Bank and the Islamic Bank to attract foreign investment. It is also necessary for the Fund to have an accounting and financial system that is subject to financial supervision in accordance with international contexts to ensure the prevention of political interference and corruption.

Saleh, a former head of the Kurdistan Regional Government, said that "dealing with the Iraqi crises in part and away from the structural treatment proved its failure over the past years. Today, Iraq has an opportunity through comprehensive solutions that put things in perspective. In which the parties compete with the seriousness of the commitment to a comprehensive solution to the spiral of the Iraqi crisis, not to be a station for fragmentation and conflict perpetuate the cycle. Ending / 25

[skeetdog]

Thanks Yota...''What a concept''...Logical thinking...

[newbieDA]

wow I was hoping to see the outcome of this and here it is!

 

[danielchu]

Imagine if we had the same infrastructure fund!

[ChuckFinley]

3 hours ago, skeetdog said:

Thanks Yota...''What a concept''...Logical thinking...

Mark this day down.

[Butifldrm]

Parliamentary Finance: The management of the investment fund by government agencies will be dead

 

Member of the Parliamentary Finance Committee Ahmed Hama

Economy News Baghdad:   The Finance Committee in the House of Representatives welcomed the proposal to establish an investment fund for Iraq, indicating that the management of this fund, however, the government exclusively making it dead.   "The Iraqi and international parties have proposed for some time the need to establish an investment fund aimed at financing infrastructure projects and the reconstruction of the areas affected by the organization is particularly supportive, and that Iraq is experiencing financial hardship because of its dependence on exports," said Ahmed Hama Rashid, a member of the committee. Oil in its federal budget. "   Rashid said that "this step came at the right time, although it should be years ago," pointing out that "Iraq needs a major investment revolution begins with vital projects such as water, housing, roads, health and education."   He pointed out that "the establishment of the fund will be in the current stage an urgent need."   Rashid said that "the management of the fund by the government exclusively" will generate dead "because most of the faltering investment projects were due to government routine and the non-implementation and implementation of laws issued against the investment law so must be shared between the private sector and the government to be flexible in dealing can help Boosted investment ".       Views 25   Date Added 09/01/2018

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