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Iraqi Govt to Announce $Billions of Opportunities in London


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Iraqi Govt to Announce $Billions of Opportunities in London

Iraq Business News is delighted to be choses as the official Media Sponsor of Iraq Mining 2011.

Billions of dollars worth of investment opportunities are expected to be announced by Iraq’s Minister of Industry and Minerals, H.E. Mr Ahmad Nassir Al-Karbooli (pictured), on 7 September at Iraq Mining 2011 in London, at a conference on Iraq industry and materials, including petrochemicals, cement, steel, fertilisers, minerals and construction materials. Investment contracts in these sectors are likely to be presented.

Key Confirmed Attendees and Speakers:

H.E. Ahmed Nassir Al Karbooli, Minister of Industry and Minerals

Dr. Sami Al Araji, Chairman, Iraq National Investment Commission

Dr. Qusay Al-Souhail, First Deputy President of Iraq Parliament

H.E. Thamir Ghadhban, Chairman of the Advisory Commission to the Prime Minister

Dr. Ahmed al-Shamma, Deputy Minister of Oil

H.E. Ali al-Adeeb, Minister of Higher Education and Scientific Research

H.E. Abdul-Kareem al-Sammaraei, Minister of Science and Technology

H.E. Dr Ali al-Dabagh, Minister of State

Dr. Kamal H. Latif, Deputy Minister of Environment

Dr. Sinan al-Shabibi, Governor of Central Bank of Iraq

The event will also see the unveiling of the most comprehensive geological survey ever conducted on Iraq by the US Geological Survey and Iraq Geosurv. The rigorous study was undertaken over a seven year period and will reveal Iraq’s hidden potential for the first time.

At the two day conference, from 7 – 8 September, the Ministry of Industry and Minerals will be presenting its strategy for creating world-class mining, mineral and material industries in Iraq, which will include PPP schemes and the privatisation of major industries. Plenary sessions and workshops led by the heads of Iraq’s minerals and materials’ industries will also take place, providing opportunities for delegates to discover Iraq’s vast investment opportunities.

Other senior Iraq government officials present will include the First Deputy President of the Iraq Parliament, the Chairman of the Advisory Commission to the Prime Minister, Deputy Ministers, Senior Advisors, Director Generals and the Governor of the Central Bank of Iraq as well as top representatives from the banking, business and education sectors – all attending with the sole purpose of carrying out business with potential foreign investors.

Dr Abbas al-Hussaini, CEO of Iraq Mining, said: “Iraq Mining 2011 is the culmination of over two years planning to produce the first ever Iraq event to not only showcase Iraq’s mineral wealth, but to create a platform whereby international investors can engage with high level Iraqi decision-makers here in the world’s finance capital – London.”

Iraq Mining 2011 has been organised in conjunction with the National Investment Commission of Iraq (NIC), whose role is to support Iraq’s substantial re-engagement with investors from around the world. The NIC has devised generous incentives for foreign investors, who qualify, including: 10 years tax exception; the repatriation of profits from investments; and a three year exemption from import fees for required equipment and materials.

“Iraq is well known for its significant oil and gas reserves but few are aware that it’s rich in minerals,” said Dr Abbas al-Hussaini. “The Mishraq native sulfur deposit in northern Iraq, for example, is the largest known occurrence of stratiform bioepigeneticsulfur making Iraq a potential world leader in sulfur production. After decades of underinvestment, due to conflict and sanctions, Iraq is now actively seeking international investment and expertise to help rebuild its world-class mining, mineral, and material industries.”

This year, foreign investment in Iraq is set to double from $42 billion in 2010, to an estimated $80 billion in 2011, with investment in Iraq already totalling $45 billion so far this year. With such attractive investment incentives and growing confidence in Iraq’s stability, the country is fast gaining recognition as an important and exciting market for foreign investors.

http://www.iraq-businessnews.com/2011/08/10/iraqi-govt-to-announce-billions-of-opportunities-in-london/

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This is more telling than I originally thought. If they have all of these resources in addition to oil, and 80% of their currency is allowed to be backed by commodities rather than just physical currency doesn't this blow the argument that their M2 won't support an RV right out of the water?

Iraq is well known for its significant oil and gas reserves but few are aware that it’s rich in minerals,” said Dr Abbas al-Hussaini. “The Mishraq native sulfur deposit in northern Iraq, for example, is the largest known occurrence of stratiform bioepigeneticsulfur making Iraq a potential world leader in sulfur production. After decades of underinvestment, due to conflict and sanctions, Iraq is now actively seeking international investment and expertise to help rebuild its world-class mining, mineral, and material industries.”

Read more:

Reading this paragraph makes me think it is now out of sanctions. Could it be?????

Edited by acceb75
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I like it a lawt. BLACK GOLD, BLACK GOLD, BLACK GOLD! Cement? Well, Okay.

Just had to reread that post again. Ya think there is such a thing as "Arab Git'R Dun'r's"? Gonna have to be with all those resources. Git R Dun!

Just had to reread that post again. Ya think there is such a thing as "Arab Git'R Dun'r's"? Gonna have to be with all those resources. Git R Dun!

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  • 4 weeks later...

Ok Bumping this UP People . This is what we want to see!!! ;)

Ya, when I first saw this post about a month ago, it was exciting.

Now, to see it about to start in London right after this long weekend, and Iraq's extra long weekend... I'm getting a little excited. They can't do all they speak about at this conference without having a solid currency that is internationally traded... and that's not from me, that's how the IMF and World Bank work. B)

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BOOM BABY This Just Keeps getting BETTER & BETTER.

10th of August no less,

This means they have known their Dinar will be the MOST VALUABLE in the ME for at least a Month

SOMETHING REALLY COOL THIS WAY COMES?

Can you say Lopsters & A Low value are blown out of the water?

GOOD FIND VIZIO

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How so? Its certainly good news for Iraq. The strength of the currency flows from the strength of the economy so the faster it grows the better. But I see no reason to think this means it will not RD or that it will RV in a big way. Lets say this program goes gang busters even next year and grows GDP by 30% (which would be huge) if M2 growth stays below (its current) 12% then maybe a 20% RV might be in order. But that is the low value sort of thing you say is blow out of the water.

+1 - Thanks for the polite, pallatable and plausible response. Negs for an opinion that is not vulger, overbearing, or rude?... come on people, really!!!! Thanks for keepin' it real xyzzy!! Respect...

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