"Karim" at the Iraqi-British Business Council (IBBC) conference

[Wiljor]

Iraq, July 26, 2017 

On Tuesday 1 August, 2017, the Iraq Britain Business Council (IBBC) will hold its first networking event in Dubai.

The event follows the appointment of Vikas Handa (pictured) as IBBC UAE representative. Vikas intends to host regular networking events in the UAE for IBBC members and companies that are interested in working in Iraq.

Since last year IBBC has committed itself to have a stronger presence in the UAE which is generally seen as the major platform for international business operating in Iraq.

IBBC participated in ADIPEC in 2016 and successfully organised its first conference in Dubai in December of the same year. The organisation is now set to further expand its activities in the United Arab Emirates to bolster trade with Iraq at this crucial time for the country and the wider region.

The event will be held at the Dubai World Trade Centre. It is sponsored by Amec Foster Wheeler and several IBBC members, including Petronas and BP, will make informal comments about their operations in Iraq. IBBC Deputy Chairman and Iraq Representative, Mr Rasmi Al Jabri and IBBC Managing Director, Mr Christophe Michels, will be in attendance.

Companies that are not part of IBBC but would like to learn more about business opportunities in Iraq can register their interest in attending this event by emailing london@webuildiraq.org

businessnews

http://iraqdailyjournal.com/story-z15655572

[yota691]

Babylon seeks to attract international investment

31/7/2017 12:00 am    Babylon / Morning  Babil Investment Authority confirmed that a British company is showing its desire to establish an investment residential complex in Babylon, which includes 3500 housing units.  The Director General of the Authority, Dr. Nasr Hamoud Al Enezi, said: British company UKML expressed its desire to establish an investment residential complex in Babylon, which includes (3500 housing units), during the visit of a delegation of the company to the headquarters of the Commission. He pointed out that the delegation of the company started its desire to invest in Babylon to establish an integrated residential city in view of the advantages of attractive investment, noting that the province of Babylon welcomes international companies to implement investment projects contribute to the development of economic and economic development, reviewing the attractive features of investment.  The Babil Investment Commission announced the lifting of a number of investment projects to the National Investment Authority for the purpose of studying and granting licenses to invest in various economic sectors.    Al-Enezi said that the Authority has raised (4) files of investment projects to the National Investment Commission, indicating that the projects included a commercial area and a break station, a model farm and a nursery for the production of fruit seedlings, vegetables and ornamental trees, as well as fish breeding project. He stressed that the Authority has sent during the past few days more than (5) files of other investment projects and waiting to grant investment licenses, noting that the Commission has developed an integrated plan to raise projects to the National Investment Authority for the purpose of granting investment licenses to improve the investment reality in Babylon and the development of the investment sector.

[10 YEARS LATER]

Quit dragging your feet - show 'em you're serious . . . you KNOW what needs to be done.

 

New entry in the Webster's Dictionary. . . SLOW - adjective, slow, slowest - See Iraq

[yota691]

 

National Conference: Ensuring transparency in government action undermines the losers

3 hours ago

Last updated

The time now is 11:06 AM

419

Watch

 

 

BAGHDAD (Reuters) 
- Ensuring transparency in government work would prevent those who failed to enter the test, the Secretary-General of the Iraqi National Congress, Aras Habib, said Friday. 
Habib said in a statement, "Al-Ghad Press", a copy of it, that "the government to open new outlets for investment opportunities in the country a step in the right direction," stressing the importance of involving experienced and competent as well as the private sector to integrate the system of work in this area "He said.

 

It is noteworthy that international companies want to invest in Iraq, but the security and economic obstacles are the most important challenges facing them.

[King Bean]

On ‎5‎/‎14‎/‎2017 at 0:10 PM, yota691 said:

Abadi: Investment doors open to international companies

 

Come on in....they said.

We want your money....they said.

We welcome you with open arms....they said.

We want ALL international companies....they said.

 

 

AaaaHa. Got yuh....they said.

[yota691]

Abadi government 's reviews its measures to encourage investment

 Twilight News    

 

 one hour ago

 

 

The government of Iraqi Prime Minister Haider al-Abadi said on Wednesday that it had taken steps to encourage investment in the country and achieve partnership with the private sector.

"Since its inception, it has adopted an ambitious program to achieve partnership with the private sector, open new doors for investment and encourage investors, whether they are individuals or companies to enter the Iraqi investment market," the government said in a statement to Ashfaq News.

She explained that "the National Investment Commission in coordination with the Investment Authority in the region or in the provinces that are not organized in the region to identify the appropriate properties for the implementation of investment projects and coordinate with the owner of the real estate in the allocation of real estate for the establishment of investment projects provided that the property allocated to the project to the investor within 30 days From the date of allotment free from concerns ".

She pointed out that the competent committees to assess the value of properties belonging to the state and the public sector for the purposes of investment projects held in the provinces. 

She added that the land allocated for residential projects within the design base with a sales allowance of 10% of the value of real land. 

With regard to land allocated to industrial projects, the system stipulated that it would have a sale allowance of 15% of the real value of the land within the basic design and 5% for the land outside the basic design. 

On the rent, the system provides for the land required for the implementation of multi-purpose residential projects such as residential complex, recreation or service within the residential cities on a rent or a flat. Of the value of the rental allowance estimated at 10/. of the real value of the land provided that the investor returns land used for public benefit, such as parks, streets and others to the concerned government authorities within 60 days from the date of completion of the project free of charge. 

According to the statement, land allocated for agricultural projects is leased as follows: 

1. The reclaimed land is suitable for agriculture and has a water share with a rental fee of 20./.  

2. Non-reclaimed arable land with a water share of 10%  

3. Non-reclaimed arable land with no water share with a rent allowance of 2% 

4. Lands that are not reclaimed and are not suitable for agriculture and do not have a share of 1%    

With regard to industrial projects that are established in the areas designated for the purposes of industrial investment projects, they are leased with a rent or a flat fee of 2%. The same percentage applies to electrical, oil and other projects located outside the municipal boundaries. 

As for the tourism projects, such as tourist cities, recreation cities, leisure complexes, etc., a 10% rent or a tenancy fee applies to them. In regard to commercial projects such as commercial centers, hotels, etc., they are subject to rent Or 10% for the first fifteen years from the date of commencement of the commercial operation. The percentage after the end of the said period shall be a rental allowance of 3% of the value of the land.

The sale, rent, or marsatah fees shall be transferred to the owner of the land provided that 50% of them are allocated within the budget of the concerned parties to provide the external infrastructure services or public utilities within the project and to encourage investors there will be a grace period in payment. The date of commencement of commercial operation or production of the project provided that the investor commits to complete the project within the period specified in the contract, according to the statement.   

In order to expand the base of investors' beneficiaries from these investment incentives, the provisions of this system will apply to residential investment projects with valid investment licenses before the second amendment of Investment Law No. 50 of 2015, and no ownership contracts have been entered into.

[yota691]

The government is taking several steps to encourage investment and partnership with the private sector

Prime Minister Haider Abadi

Economy News Baghdad: The government said on Wednesday it had taken steps to encourage investment in the country and to partner with the private sector. "Since its inception, it has adopted an ambitious program to achieve partnership with the private sector, open new doors for investment and encourage investors, whether they are individuals or companies to enter the Iraqi investment market," the government said in a press release. She explained that "the National Investment Commission in coordination with the Investment Authority in the region or in the provinces that are not organized in the region to identify the appropriate properties for the implementation of investment projects and coordinate with the owner of the real estate in the allocation of real estate for the establishment of investment projects provided that the property allocated to the project to the investor within 30 days From the date of allotment free from concerns ". She pointed out that "the competent committees to assess the value of real estate belonging to the state and the public sector for the purposes of investment projects that are held in the provinces," indicating that "owns land allocated to residential projects within the design base with a sale allowance of 10% of the value of real land."  "Regarding the land allocated for industrial projects, the system stipulated that it would be entitled to a 15% sale of the real value of the land within the basic design and 5% for the land outside the basic design. Recreational or service within the residential cities on a rent or a flat price of 7% of the value of the rental allowance estimated at 10% of the real value of the land that the investor return the land used for public benefit parks, streets and others to the government agencies concerned Within 60 days from the date of completion of the project free of charge. "  She pointed out that "industrial projects that are set up in the areas designated for the purposes of industrial investment projects are leased with a rent or a flat rate of 2%. The same percentage applies to electrical, oil and other projects outside the municipal boundaries. 5%, and for tourism projects such as tourist cities or cities of games or recreational complexes and others, it is a 10% rent or a mansatah. In respect of commercial projects such as commercial centers, hotels, etc., For the first fifteen years from the date of commencement of the legitimate commercial operation. The ratio after the end of the said period shall be a rental allowance of 3% of the value of the land.                                                                       Views 31   Date Added 08/09/2017

[nannab]

Hopefully all of the people that lost their homes due to shady dealing's get

them back too.

[blueskyline]

http://en.economiciraq.com/2017/08/09/the-iraqi-government-reviews-its-measures-to-encourage-investment/....................

The Iraqi government reviews its measures to encourage investment

By

 rami

 -

August 9, 2017

7

0

 

 

 

Iraqi Prime Minister Haidar al-Abadi’s government said on Wednesday it had taken steps to encourage investment in the country and partnership with the private sector.
“Since its inception, it has adopted an ambitious program of partnership with the private sector, opening new doors for investment and encouraging investors, whether they are individuals or companies to enter the Iraqi investment market,” the government said in a statement.
She explained that “the National Investment Commission in coordination with the Investment Authority in the region or in the provinces that are not organized in the region to identify the appropriate properties for the implementation of investment projects and coordinate with the owner of the real estate in the allocation of real estate for the establishment of investment projects provided that the property allocated to the project to the investor within 30 days From the date of allotment free from concerns “.
She pointed out that the competent committees to assess the value of properties belonging to the state and the public sector for the purposes of investment projects held in the provinces.
She added that the land allocated for residential projects within the design base with a sales allowance of 10% of the value of real land.
With regard to land allocated to industrial projects, the system stipulated that it would have a sale allowance of 15% of the real value of the land within the basic design and 5% for the land outside the basic design.
On the rent, the system provides for the land required for the implementation of multi-purpose residential projects such as residential, recreational or service complex within the residential cities on a rent or a flat. Of the value of the rental allowance estimated at 10./% of the real value of the land that the investor return the land used for public benefit, such as parks, streets and others to the relevant government authorities within 60 days from the date of completion of the project free of charge.
According to the statement, land allocated for agricultural projects is leased as follows:
1. The reclaimed land is suitable for agriculture and has a water share with a rental fee of 20./.
2. Non-reclaimed arable land with a water share of 10%
3. Non-reclaimed arable land with no water share with a rent allowance of 2%
4. Lands that are not reclaimed and are not suitable for agriculture and do not have a share of 1%
With regard to industrial projects that are set up in the areas designated for the purposes of industrial investment projects, they are leased with a rent or a flat fee of 2%. The same percentage applies to electrical, oil and other projects located outside the municipal boundaries.
As for the tourism projects, such as tourist cities, recreation cities, leisure complexes, etc., a 10% rent or a tenancy fee applies to them. In regard to commercial projects such as commercial centers, hotels, etc., they are subject to rent Or 10% for the first fifteen years from the date of commencement of the commercial operation. The percentage after the end of the said period shall be a rental allowance of 3% of the value of the land.
The cost of sale, rent, or land lease payments to the owner of the land, provided that 50% of them are allocated within the budget of the concerned parties to provide the services of external infrastructure or public utilities within the project and to encourage investors there will be a grace period in the payment starting with the date of maturity of ownership, From the date of commencement of commercial operation or production of the project, provided that the investor is committed to complete the project within the period specified in the contract, according to the statement.
In order to expand the base of investors’ beneficiaries from these investment incentives, the provisions of this system will apply to residential investment projects with valid investment licenses before the second amendment of Investment Law No. 50 of 2015, and no ownership contracts have been entered into.

[Big_J]

GD blueskyline AND DV.

[yota691]

Government action to encourage investment and achieve partnership with the private sector

10/8/2017 12:00 am    Baghdad / Al-Sabah  The Prime Minister's Office announced yesterday the government measures to encourage investment and achieve partnership with the private sector.  "Since its establishment, the government has adopted an ambitious program to achieve partnership with the private sector, open new doors for investment and encourage investors, whether individuals or companies, to enter the Iraqi investment market. Starting from the procedures of registration and issuing and granting investment licenses by adopting a single window. "  He pointed out that "has been removed many of the rings that have been hampering government efforts to open promising prospects for investment in various sectors, and to complement this endeavor and confirmation of the seriousness of the seriousness of the Government to move forward this trend and a breakthrough in the Iraqi investment market has been a subject of lengthy research And extensive dialogues and meetings held by Dr. Haider al-Abbadi, Prime Minister in all meetings held, forums and international forums in which he participated with the officials of various countries and with representatives of international companies specialized and has the potential and experience of investment as well as with the officials of the Organization International specialized financial data this aspect was an important focus of the agenda of Dr. Abadi on his visits by the number of countries and also in meetings with officials who visited Iraq. " Al-Hadithi added that "the government, in order to move the labor market in Iraq and activate the economic cycle, has continuously and urgently sought to do everything that can stimulate investment and stimulate the private sector and encourage investors to enter strongly in the various sectors of economic, development and service aware of the importance of investment in providing the requirements to find To create jobs in large numbers and to reduce the burden on the state in this regard and activate many sectors of labor, trade and transport, and rebuild the industrial sector and develop the agricultural sector and find effective solutions to the problem of housing and to establish projects for development Economic and human resources and provide basic services to citizens and rehabilitation of infrastructure in the field of energy, transport, education, health and other vital areas associated with the development of the Iraqi economy and provide better services to citizens in addition to providing new income resources to the state budget and within this government approach has approved the Council of Ministers system of sale and rent of real estate And the state and public sector for the purposes of investment and control over them. "  He explained that "the National Investment Commission in coordination with the Investment Authority in the region or in the provinces that are not organized in the region to identify suitable properties for the implementation of investment projects and coordination with the owner of the real estate in the allocation of real estate for the establishment of investment projects to deliver the property allocated to the project to the investor during 30 Days from the date of privatization without any concerns The system provides for the formation of a federal committee composed of the Chairman of the National Investment Commission as chairman and membership of: the head of the Investment Commission in the province or the province of irregular territory, Ib, and general manager of the Real Estate Registration Department, and a representative of the owner of the property. " The committee also assesses the value of real estate belonging to the state and the public sector for the purposes of major strategic projects and projects of a federal nature, at the same time forming subcommittees in the region and governorates under the chairmanship of the head of the investment authority in the region or the irregular province and membership: The real estate registration department and the owner of the real estate in the province, as these committees are assessing the value of properties belonging to the state and the public sector for the purposes of investment projects held in the provinces. He also pointed out that "the Federal Committee and the subcommittees are guided by the rules of the estimates in force at the General Authority for Taxation and the Real Estate Registration Department and the use of the relevant legal legislations to estimate the value of the property and the experts and specialists for the purpose of estimating the sale and rent allowances. And in case of non-compliance, the National Investment Commission shall present the minutes of appreciation to the Council of Ministers for the issuance of the appropriate resolution by adopting them. " "The owner of the real estate for the investment projects shall be bound by the contract of legal disposition within 30 days from the date of the estimation of the sale or lease payments or the land. The land allocated for the residential projects shall be within the basic design with a sale allowance of 10% of the value of the real land. The housing sector and the reduction of wages of housing units in investment complexes to the maximum extent possible in support of the registrants on these units, he pointed out that "the new system guarantees the ownership of the investor and developer land allocated for housing purposes (which is outside the design base) without allowance, The value of the residential unit sold to the citizen, in order to push towards the establishment of large housing projects contribute to address the problem of housing and provide housing units at prices commensurate with the income level of the overwhelming majority of citizens. "Regarding land allocated to industrial projects, the system provided for the ownership of the sale price of $ 15 Of the real value of the land within the basic design, and 5 percent for the land outside the basic design. "With regard to the rent, he pointed out that" the system provides for the land necessary for the implementation of multi-purpose residential projects such as residential complex, recreational or etc May within the residential cities on a rent or a flat price of 7% of the value of the rental allowance estimated at 10% of the real value of the land that the investor return land used for public benefit such as gardens, streets and others to the relevant government authorities within 60 days of the completion of the project free of charge "He said. The land allocated for agricultural projects is leased as follows:  1. Reclaimed arable land with a water quota of 20%.  2. Non-reclaimed arable land with a water interest of 10%.  3. Non-reclaimed arable land with no water leases of 2%.  4. The land that is not reclaimed and not suitable for agriculture and does not have a share of 1% rent. "With regard to industrial projects held in the areas designated for the purposes of industrial investment projects, it is rented with a rent or a flat fee of 2% and the same applies to the electrical, Municipality limits. As for the tourism projects, such as tourist cities, recreation cities, leisure complexes, etc., a 10% rent or a tenancy fee applies to them. In regard to commercial projects such as commercial centers, hotels, etc., they are subject to rent Or a mansatah of 10% for the first fifteen years from the date of commencement of commercial operation of the project. The ratio after the end of the said period shall be a rental allowance of 3% of the value of the land. "Al-Hadithi confirmed that" 50% of which is allocated within the budget of the parties concerned to provide the services of external infrastructure or public utilities within the project and to encourage investors there will be a grace period in payment as the date of maturity of the ownership, rent or mashatah starts from the date of commencement of commercial operation or production of the project, During the period specified in the contract, and to expand the base of investors' beneficiaries from these investment incentives, the provisions of this system will apply to residential investment projects with valid investment licenses before the issuance of the second amendment to Investment Law No. 50 For the year 2015 did not enter into contracts of ownership or Musataha.

[yota691]

The government announces its measures on the economic and investment file and the system of selling and renting state properties 09/08/2017 18:30

Baghdad / Iraqi National News Agency / nina / government announced its actions in the economic and investment file system sale and rent properties state to encourage investment and achieve a partnership with the private  sector. According to a spokesman for the Information Office of the Prime Minister Saad al - Hadithi in a press release : "Since its formation, the government has adopted an ambitious program to achieve partnership with the private sector, open new doors for investment and encourage investors, whether individuals or companies, to enter the Iraqi investment market. An unprecedented limit A procedure of registration, issuance and granting of investment licenses with the adoption of a single window, and the removal of many of the rings that have been hampering government efforts to open promising prospects for investment in various sectors. He continued " The government has continuously and vigorously sought to stimulate investment and stimulate the private sector and encourage investors to enter strongly in various economic sectors, development and service, recognizing the importance of investment in providing the necessary requirements to create jobs in large numbers and reduce the burden on the State in this regard and activate many of the The reconstruction of the industrial sector, the development of the agricultural sector, the creation of effective solutions to the problem of housing, the establishment of projects to achieve economic and human development, the provision of basic services to citizens and the rehabilitation of infrastructure in the field of Energy, transport, education, health and other vital areas associated with the development of the Iraqi economy and provide better services to the citizen, in addition to providing new income resources to the state budget, "referring to the Council of Ministers, within this governmental approach, approved the system of sale and rent of real estate, For investment and control purposes. Sabri  added ,  "The National Investment Commission, in coordination with the investment in theregion or in the governorates not organized province, shall determine the appropriate implementation of investment projects , real estate, and is coordinated with the owner of the Akarbhon allocation suitable for the establishment of investment projects , real estate, that The property allocated to the project to the investor within 30 days from the date of allocation free of concerns, "noting:" The system provides for the formation of a federal committee composed of the President of the National Investment Commission Chairman and the membership of the President of the Investment Commission in the province or the province is not waiting Of Baakulaim, and Director General of the General Authority taxes, and the Director General of the Department of Real Estate Registration, and a representative of the owner of the property. "  He noted"  This committee assesses the value of real estate belonging to the state and the public sector for the purposes of major strategic projects and projects of a federal nature, and at the same time form subcommittees in the region and the governorates under the chairmanship of the Chairman of the Investment Commission in the province or the province is not organized in the region and the membership of representatives of the National Authority Investment and tax Authority, and the Department of Real Estate Registration, and the owner of the property in the province, where these committees estimate the state belonging to the public sector and the value of real estate for the purposes of investment projects established in the provinces. " and Aod Newborn "  The Federal Committee and the subcommittees shall be guided by the rules of the estimates in force at the General Authority of Taxes and the Real Estate Registration Department and the use of the relevant legal legislations to estimate the value of the property and the experts and specialists for the purpose of estimating the sale and rent allowances. Committees referred to above, and in the absence of commitment to the national Investment Commission , presented the minutes of appreciation to the Council of Ministers to issue the appropriate decision for adoption. "  He added that" the owner of the property allocated for investment projects committed Babur Contract or legal act within 30 days from the date of sale estimate allowances or rent or leasing, and have allocated land for residential projects within the design basis of the sale of 10 allowance% of the true value of the land. " He added that"  In order to stimulate investment in the housing sector and to reduce the wages of housing units in investment complexes to the maximum extent possible in support of the registrants on these units, the new system included the ownership of the investor and developer land allocated for housing purposes (outside the basic design) without allowance, the land within the housing unit sold citizen value, in order to push for the establishment of a major housing projects that contribute to addressing the problem of housing and the provision of housing units prices commensurate with the level of income of the overwhelming majority of citizens. " regarding earmarked for industrial projects land, between the newborn that" a System text on the sale of allowance possessed 15% of the real value of the land located within the design basis, and 5% for land located outside the foundation design. "  And on the rent, he said , "  For the land required for the implementation of multi-purpose residential projects such as residential, recreational or service complex within the residential cities, the system provides for a rent or a flat fee of 7% of the estimated rent value of 10% of the real value of the land. used for the benefit of the public , such as parks, streets and others to government agencies concerned within 60 days from the date of completion of the project for free. " and said that" earmarked for agricultural projects , land Tajraly land reclaimed arable and its share of water allowance rent of 20%, and the land is reclaimed Good Agricultural land with a 10% wetland share, uncultivated arable land with no water leases of 2% rent, land not reclaimed and unfit for agriculture and no share of 1% rent. " With regard to the  industrial projects established in the areas identified for the purposes of industrial investment projects, Sabri said , "it leases or rent allowance Musataha of 2% and the same ratio applies to electrical and oil and other projects located outside the municipal  boundaries." Either As for tourism projects such as tourist cities, amusement parks, leisure complexes, etc., there is a 10% rent or a tenancy fee. For commercial projects such as commercial centers, hotels, etc. See her allowance would be subject rent or Musataha of 10% for the first fifteen years of commercial operation of the project start date, and the ratio after the end of the period mentioned rent allowance of 3% of the value of the land. " He added"  The sale, lease or landline payments will be transferred to the owner of the land, provided that 50% of them are allocated within the budget of the parties concerned to provide the external infrastructure services or public utilities within the project. In order to encourage investors there will be a grace period in payment, ownership Awalaajar or Musataha from the start of commercial operation of the project or production date that the investor is committed to complete the project within the period specified in the contract. "  he noted" that to expand the base of beneficiaries of investors from these investment incentives, the provisions of this Regulation Will apply to the drafts Investment residential developments on the window of investment licenses before the issuance of the Second Amendment to the Investment Law No. 50 of 2015 and did not conclude them ownership or Musataha contracts "./anthy7

[yota691]

Al-Hamdani: The national economy has passed the stage of danger

12/8/2017 12:00 am    During a ceremony honoring businessmen who supported our security forces to stand against  Saddam Hussein, the  Federation of Chambers of Commerce organized a ceremony to honor a number of investors and businessmen in appreciation of their honorable positions by alleviating the effects of the financial distress experienced by the country to support the security forces and support them to stand against terrorism, .  Under the slogan (victories build and build Iraq), the celebration was organized on the occasion of Iraqi Investor Day, during which a number of Iraqi businessmen and investors were honored, in the presence of a number of members of the House of Representatives and heads of Iraqi Chambers of Commerce in the provinces and heads of investment bodies in the provinces and members of the Board of Baghdad Chamber of Commerce with a large number Of businessmen.  Chairman of the Federation of Chambers of Commerce Jaafar al-Hamdani said in a speech: This celebration of honoring 89 investors and businessmen comes in the light of the victories achieved by our armed forces and the suppression of the popular mobilization against the forces of oppression and terrorism "Al-Da'ashi." He pointed out that this honor to the economy and investment who contributed to support the national economy in light of the economic crisis that hit the country Low oil prices.   Al-Hamdani pointed out that the national economy exceeded the stage of danger due to the successful monetary policy of the Central Bank of Iraq and the implementation of the program of financial reform, pointing out that the national economy suffers from structural imbalance as a result of continuing deficit in the balance of payments and the government to borrow.  He called for the need to reform the economic reality radically in accordance with the criteria that allow the Iraqi economy to diversify and create areas for borrowing to the private sector and the preparation of a program to train workers and establish a national center for consulting using international expertise.  Chairman of the National Investment Authority Sami Araji spoke during his speech about the grant of the Commission 1389 investment license since 2009 worth 91 billion dollars, which included various industrial sectors, commercial, residential and recreational.  He added that 60 percent of these projects have been completed and 40 percent are lagging behind the lack of implementation of a single window that limits routine procedures and non-allocation of land and the subject of financial financing for investment projects.  Araji pointed out that many businessmen and investors are subjected to extortion or threat, expressing his thanks and appreciation to the President of the Federation Jafar al-Hamdani and the heads of the Iraqi Chambers of Commerce to establish and make this great event.

[Wiljor]

Iraq, August 23, 2017 

Chevron has become the latest member of the Iraq Britain Business Council (IBBC), joining 57 other world- and region-leading organisations that form IBBC’s membership.

The company operates and has an 80 percent interest in the Sarta production-sharing contract (PSC) and the Qara Dagh PSC (pictured). The two blocks cover a combined area of 279,000 net acres (1,129 sq km).

In early 2016, it completed a second exploration well in the Sarta Block, and more evaluation of the block is planned.

For the Qara Dagh PSC, the results from seismic acquisition and evaluation in 2015 improved understanding of the prospects, and it is evaluating the next steps.

businessnews

 

http://iraqdailyjournal.com/story-z15802894

[yota691]

The government issues new measures to support and stimulate investment

 

Economy News _ Baghdad The federal government has issued new measures to support and stimulate the country's investment and reconstruction sector. The spokesman for the government, Saad al-Hadithi said in a statement received by "Economy News" that he is aware of the government to support and revitalize the investment and reconstruction sector because of its importance in rehabilitating infrastructure, providing and developing services to citizens and achieve sustainable economic development and the advancement of various sectors of the Iraqi economy and provide "The Council of Ministers approved the tasks and mechanisms of the work of the Supreme Committee for Investment and Reconstruction, which was previously formed by the Council to take up the core issues and strategic issues related to investment promotion and plans for the Aa major reconstruction and follow-up and remove the obstacles. " He added that "the committee, which was formed under the chairmanship of Haider al-Abadi, the Prime Minister and includes the ministers of finance, planning, housing, industry and minerals, the director of the Prime Minister's Office, the Secretary General of the Council of Ministers, the Governor of the Central Bank and the Chairman of the Investment Authority will follow up strategic projects, infrastructure projects, Railways, metallurgical and petrochemical industries, dam projects, reservoirs and irrigation. " He added that the committee will continue to analyze and study the obstacles facing the investment process in order to remove them and has the authority to instruct the National Investment Authority to grant investment licenses if the requirements and legal conditions of the projects presented to the committee are met, and supervision of the allocation of land for strategic projects and directing the one window to obtain approvals and complete procedures from The relevant authorities and the adoption of a period of time for completion, and directing the security authorities concerned to remove the excesses from the land intended for investment and referral of the involved in corruption to the judiciary and provide security protection for Investment projects. " He pointed out that "the committee also directed the issuance of the necessary decisions for the establishment of infrastructure and delivery of services to the land allocated for investment, and follow-up implementation of projects by entrusting the sectoral bodies responsible for the investment project to allocate employees working with the investor until the completion of the investment project, as well as facilitating customs and tax procedures and granting entry features Which is associated with the implementation of projects, and review the functions of a single window and enable it to do its role for which it was established. "

Views 11   Date Added 15/09/2017

[yota691]

Investing in Iraq: an opportunity to get out of the bottleneck

September 19, 2017 in the Center releases  on investment in Iraq: an opportunity to get out of the bottleneck closed

 

The international competition for attracting investments has become more acute after the need of the countries of the world to maximize their rates of economic growth and accelerated to achieve economic and social development and try to follow the developed countries in pursuit of the same objective, including through the provision of tax exemptions, Capital. Iraq, rich in its wealth and expertise, needs international support and maximizing investment in various sectors, focusing on the important role of the private sector at this stage to overcome the current circumstances caused by the occupation and mismanagement of some of its regions.

On 3-7-2017, an Iraqi trade and investment conference was held in the British capital London, where representatives of Iraqi and British ministries and institutions and companies from both sides met to discuss the great opportunities available for investment on Iraqi soil, which could promote Iraq after the terrorism and destruction of buildings. An opportunity for the Iraqi and British private and government sectors to discuss trade relations and trade franchise. The negotiators referred to Iraq's negotiations with Britain in the 1950s about oil and its exports, focusing on the privatization of projects and access to the production of five million barrels of oil per day.

The Iraqi side stressed that the philosophy of investment in local companies focused on privatization, providing the needs of people, improving imports and activating the role of British private companies to benefit from the investment of gas and the provision of electricity. The areas occupied by the sponsor were sponsored by the conference and the possibility of carrying out important projects between Iraq and the countries of the world. Iraq is open to every area of investment by private sector companies for construction, investment and stability.

The Iraqi Council of Ministers issued a system to fund the reconstruction of destroyed areas and infrastructure and achieve national goals and preserve the funds that come from the contributions of States and not waste, to provide life and stability in those liberated areas, stressing that the Iraqis themselves are more worthy of rebuilding Iraq and reconstruction. The Iraqi Minister of Trade and Investment said that Iraq plays a large role in the trade between Britain. He pointed out that Iraqi history in the region has a role in trade and civilization, from which it spread astronomy, mathematics, medicine and research in science and the arts, and has played an important role in the Silk Road and cooperation with Europe.

He pointed to British-Iraqi agreements on several topics, especially in trade and investment, oil production, peace, stability and investment, and investment in Iraq for growth. The British Minister of Trade and Investment said that his country has issued a plan for the reconstruction of war-damaged areas worth one billion dollars and there are priorities in investment such as transport, communications and health and new housing for the displaced and other sectors, noting that the economy in Iraq is not only in oil, there are other areas and important and everyone to do .

Participants in the conference stressed the importance of friendship between Britain and Iraq and trade exchange and that the battle of Mosul was important in stopping the evil spread by the terrorists and fighting terrorism, which destroyed everything from industry to infrastructure during the past years, which led to the shrinking of development. They also stressed that Iraq needs the support of other countries such as Britain, especially in the field of oil and strengthening the private sector, to participate in the reconstruction of Iraq. On the sidelines of the conference, the Ministry of Oil held seminars to develop and explore gas and the challenges facing it, which prepared a lot of structure to improve the National Oil Company. This plan is in the Iraqi parliament working to increase absorptive capacity. Participants discussed how to achieve the integrated ecosystem, Oil
 

It is noteworthy that the Iraqi Investment Law No. (13) of 2006; it began that the use of money in any activity or economic project is beneficial to the legitimate country, but this law has not been implemented so far as he needs other legislation accompanying him and needs to be implemented and reforms The existence of some obstacles to its application in order to push the process of economic and social development and development and bring technical and practical expertise and development of human resources and job creation for Iraqis to encourage investments and support the process of establishing investment projects in Iraq and expand and develop them at various economic levels and granting concessions and Exemptions for these projects initiated this law was amended by paragraph, the National Investment Commission or the region or the Governorate Commission as the case with a positive Second Amendment to the Investment Law No. 50 of 2015 Law
The aim of the law is to encourage investment and transfer of modern technologies to contribute to the development and development of Iraq and to expand its productive and service base and diversify it. The private sector should encourage investment in Iraq by providing the necessary facilities to establish investment projects and enhance the competitiveness of projects covered by the provisions of this law in local and foreign markets. It also calls for the development of human resources according to the requirements of the market, protecting the rights and property of investors, expanding exports and enhancing the balance of payments and the Iraqi trade balance. He urged the pace of attracting investments, developing the local business environment, attracting and twinning with European and Asian countries, attracting investment to their countries and modernizing their economies. Need to clarify its economic model and ways to diversify its national income.

The Iraqi government implements a series of measures and steps to protect and provide the investment climate and work to preserve intellectual property, indicating that the local economy and through small and medium enterprises in the development, but need to legislate incubator and the environment of local business for its domestic output and the environment of the financial sector, And there is a significant shift in their participation in economic development and this is a good thing and important for the Iraqi national economy, which has to develop the law of the work of banks in Iraq and Iraqi commercial law because they are concerned with small and medium industries and investment vehicles Foreign Rat. .

Oil occupies the top position among the attractive sectors. Iraq was the 13th largest oil producer in the world and third in terms of proven reserves. But analysts believe that Iraq has significant potential in the oil field because part of the known fields are under development and most of the country remains unexplored. In June, Iraq organized the first post-invasion global auction of lucrative oil contracts, although political instability, the absence of necessary legislation and growing fears of violence prompted potential investors to opt out. Iraq is missing out on billions because it can not attract the required external attention. Although the National Investment Law in Iraq offers a set of incentives, few companies have the necessary relationships to succeed in this difficult working environment.


Political economy in Iraq, according to local and foreign observers, is largely based on nepotism and corruption. The political and religious class has exploited the political vacuum in recent years to expand its sectors.

It is important to mention here the importance of the private sector in investment and economic development: 
- Despite the contribution of the public sector in the process of economic development and in the areas of social development, but this contribution was not the required level, which prompted many developed and developing countries to reconsider its role in Economic life, especially after the economic crises that affected most countries, which also confirmed that the contribution of the public sector to the development process in these countries was much lower than the goals stated in the development plans, and after they began to face a severe development, The Especially in non-oil countries, and the deterioration of international trade rates as prices of primary export commodities continue to decline.
- The high levels of balance of payments deficit, the deficit in public budgets, and the deterioration of levels of social development due to the high rates of poverty and the deterioration of living standards associated with the decline in economic growth rates against the continuous increase in population growth rates, as well as the deterioration of the level of health and education and the high levels of explicit and structural unemployment .

- The private sector has an active role in achieving economic and social development in most countries of the developed and developing world alike because of the great potentials of managing the various economic and social sectors. This encourages economic legislators to focus on laws that will provide the necessary ground for the success of the development process.

- Most of the world's economies have moved towards greater economic liberalization and openness in an increasingly globalized and highly competitive economic environment. The issues of accelerating and stimulating economic and social development have been directly and closely related to re-evaluating the role of the public and private sectors in achieving sustainable development. Government intervention in directing economic activity and stimulating the role of the private sector. The private sector and the reduction of unemployment: 
- The private sector contributes significantly to reducing unemployment, although the private enterprises in Iraq are small in size, but it is very important in the operation of the labor force in view of the number and dependence on the work component in production more than the head Money due to low technical levels.

Iraq is seeking to help the private sector to: 
• Reduce the recurrent deficit in its public budget, due to funds directed to sectors not successful. • Modernizing the national economy and opening up the private sector to the activities abandoned by the state. • Contribution to the replacement of imported products by the local product and support for the national product (logo manufactured in Iraq). • Reducing the unemployment rate, thanks to the participation of the private sector in creating permanent jobs. • Achieving balance through private sector initiatives, in accordance with financial concessions and tax exemptions. • Achieving economic integration between different national sectors in general or in particular.
 

[DinarThug]

IBBC Autumn Conference 2017: ‘Together We Build Iraq’

October 10, 2017 

IBBC Autumn Conference 2017: ‘Together We Build Iraq’

12 November 2017, The Address Dubai Marina, Dubai

The Iraq Britain Business Council (IBBC) is pleased to invite you to the IBBC Autumn Conference at The Address Hotel Dubai Marina, United Arab Emirates, on Sunday 12 November 2017.

This years’ event follows IBBC’s successful inaugural conference of 2016 held in the UAE, a hub for global and regional companies that operate in the Middle East.

The theme of this year’s Autumn Conference is ‘Together We Build Iraq’ and will focus predominantly on the ongoing effects and needs of Iraq’s reconstruction and the opportunities of investment available to British and International companies during this process. There will also be panels discussing the Power and Oil & Gas sectors.

The five conference sessions will focus on:

• Strengths and Weaknesses of the Economy in Iraq

• Reconstruction and Infrastructure – The Built Environment
• Enabling Reconstruction
• Power
• Oil & Gas

 

Reconstruction and Infrastructure – The Built Environment Enabling Reconstruction Power Oil & Gas

The IBBC Autumn Conference 2017 will be chaired by Vikas Handa, IBBC UAE Representative and will be led by the following confirmed speakers:

• Baroness Nicholson of Winterbourne, The Prime Minister’s Trade Envoy to Iraq, Azerbaijan & Turkmenistan and President of IBBC

H.E. Mr Qasim Al-Fahdawi, Minister of Electricity H.E. Mr Kadhim Finjan Al Hamimi, Minister of Transport H.E. Mrs Ann Nafi Aussi Balbool, Minister of Construction, Housing and Public Municipalities H.E. Dr Sami Al Araji, Chairman of the National Investment Commission Marwa Alnasaa, Resident Representative for Iraq, International Monetary Fund (IMF) Dr Jaafar Dhia Jaafar, CEO, URUK Engineering Zaid Elyaseri, Iraq Country Manager, BP Peter Mohring, Managing Director – Aviation & Defence, Serco Zeeshan A. Sheikh, EMENA Infrastructure & Natural Resources, International Finance Corporation Suha AlKifaee, Managing Director, IIB Zaid Al-Ansari, Executive Country Manager-Iraq, GE Tarek Hamade, Environment & Infrastructure lead for the Middle East, Amec Foster Wheeler Tawfiq Tabbaa, Managing Partner – Iraq, Eversheds Sutherland Salem Chalabi, Partner, Stephenson Harwood Middle East LLP Nikolay Dimitrov, Business Development Manager (Middle East and Africa), KCA Deutag Anne Kerr, Global Head – Urbanisation, Mott MacDonald Iain Rawlinson, Group Commercial Director, Gulftainer Phill Sherwood, Executive Director, AMAR International Charitable Foundation Danielle Montgomery, Managing Director, Middle East, North Africa and Turkey, OPIC

A pre-conference reception and networking event will be held on Saturday 11 November at 18:00 at the Address Dubai Marina.

IBBC warmly thanks the International Islamic Bank, which has generously agreed to be the event’s Gold Sponsor, in addition to Silver sponsors Serco & Gulftainer. Completing the sponsorship line-up are Amec Foster Wheeler, which will serve as the Reception sponsor, and Coffee Break Sponsors KCA Deutag & Eversheds Sutherland.

Sponsorship opportunities are still available. Please email london@webuildiraq.org for details.

Registration is now open. The registration fee for non-members is £700. IBBC members and members of partner organisations are entitled to special discounted rates. To request the discount codes or if you need assistance, please email the team at london@webuildiraq.org or phone +44 (0) 20 7222 7100.

The IBBC team looks forward to seeing you in Dubai for the Autumn Conference.

Download the latest Agenda Here.

link

Edited October 10, 2017 by DinarThug

[Wiljor]

Iraq, October 11, 2017 

The Iraq Britain Business Council (IBBC) is pleased to invite you to the IBBC Autumn Conference at The Address Hotel Dubai Marina, United Arab Emirates, on Sunday 12 November 2017.

This years’ event follows IBBC’s successful inaugural conference of 2016 held in the UAE, a hub for global and regional companies that operate in the Middle East.

The theme of this year’s Autumn Conference is ‘Together We Build Iraq’ and will focus predominantly on the ongoing effects and needs of Iraq’s reconstruction and the opportunities of investment available to British and International companies during this process. There will also be panels discussing the Power and Oil & Gas sectors.

The five conference sessions will focus on:

• Strengths and Weaknesses of the Economy in Iraq
• Reconstruction and Infrastructure – The Built Environment
• Enabling Reconstruction
• Power
• Oil & Gas

The IBBC Autumn Conference 2017 will be chaired by Vikas Handa, IBBC UAE Representative and will be led by the following confirmed speakers:

• Baroness Nicholson of Winterbourne, The Prime Minister’s Trade Envoy to Iraq, Azerbaijan & Turkmenistan and President of IBBC
• H.E. Mr Qasim Al-Fahdawi, Minister of Electricity
• H.E. Mr Kadhim Finjan Al Hamimi, Minister of Transport
• H.E. Mrs Ann Nafi Aussi Balbool, Minister of Construction, Housing and Public Municipalities
• H.E. Dr Sami Al Araji, Chairman of the National Investment Commission
• Marwa Alnasaa, Resident Representative for Iraq, International Monetary Fund (IMF)
• Dr Jaafar Dhia Jaafar, CEO, URUK Engineering
• Zaid Elyaseri, Iraq Country Manager, BP
• Peter Mohring, Managing Director – Aviation & Defence, Serco
• Zeeshan A. Sheikh, EMENA Infrastructure & Natural Resources, International Finance Corporation
• Suha AlKifaee, Managing Director, IIB
• Zaid Al-Ansari, Executive Country Manager-Iraq, GE
• Tarek Hamade, Environment & Infrastructure lead for the Middle East, Amec Foster Wheeler
• Tawfiq Tabbaa, Managing Partner – Iraq, Eversheds Sutherland
• Salem Chalabi, Partner, Stephenson Harwood Middle East LLP
• Nikolay Dimitrov, Business Development Manager (Middle East and Africa), KCA Deutag
• Anne Kerr, Global Head – Urbanisation, Mott MacDonald
• Iain Rawlinson, Group Commercial Director, Gulftainer
• Phill Sherwood, Executive Director, AMAR International Charitable Foundation
• Danielle Montgomery, Managing Director, Middle East, North Africa and Turkey, OPIC

A pre-conference reception and networking event will be held on Saturday 11 November at 18:00 at the Address Dubai Marina.

IBBC warmly thanks the International Islamic Bank, which has generously agreed to be the event’s Gold Sponsor, in addition to Silver sponsors Serco & Gulftainer. Completing the sponsorship line-up are Amec Foster Wheeler, which will serve as the Reception sponsor, and Coffee Break Sponsors KCA Deutag & Eversheds Sutherland.

Sponsorship opportunities are still available. Please email london@webuildiraq.org for details.

Registration is now open. The registration fee for non-members is £700. IBBC members and members of partner organisations are entitled to special discounted rates. To request the discount codes or if you need assistance, please email the team at london@webuildiraq.org or phone +44 (0) 20 7222 7100.

The IBBC team looks forward to seeing you in Dubai for the Autumn Conference.

businessnews

 

http://iraqdailyjournal.com/story-z16025152

 

[Theseus]

Iraq's Economic Outlook - October 2017

 

The ISIS war and low oil prices since mid-2014 have severely impacted the economy. Contraction in oil production is resulting in negative overall growth in 2017, but owing to improved security the non-oil growth will turn positive after a three year decline, despite the ongoing fiscal consolidation. The government’s reform effort – but not reconstruction – is supported by a large international financing package. Growth will accelerate in 2018, sustained by higher oil production, despite persistent security risks.

 

Recent Developments

The ISIS insurgency and low oil prices have severely impacted Iraq’s growth, which decelerated in 2014-15, with government non-oil investment declining by two-thirds and rapid contraction of agriculture, manufacturing and construction. Strong oil production sustained economic growth in 2016, while the OPEC agreement to cut production until March 2018 is expected to lead to a contraction in growth in 2017. Non-oil growth has been negative since 2014, but a better security situation and the benefits of an initial reconstruction effort are expected to sustain non-oil growth at 1.5 percent in 2017. The drivers are construction and services on the supply side, and pick-up in government consumption and investments on the demand side. Owing to the pegged exchange rate and subdued aggregate demand, inflation has averaged 0.4 percent in 2016 and is estimated at 2 percent in 2017.

 

The low oil prices and higher security and humanitarian outlays rapidly deteriorated the fiscal and external balances since 2014 in the Federal Government of Iraq (GOI) and the Kurdistan Regional Government. GOI’s overall fiscal deficit increased to 14 percent of GDP in 2016 mainly because of a 22 percent fall in oil prices in the previous year; in response, GOI is implementing a fiscal consolidation program to reduce the non-oil primary deficit. In 2017, the fiscal deficit is estimated to reach 5.1 percent of GDP owing to a small recovery in oil prices and measures to increase non-oil revenues and to contain salaries and pensions. The GOI is prioritizing its limited investment expenditure for reconstruction in areas liberated from ISIS, and to increase electricity. KRG is also implementing measures to contain expenditure and improve non-oil revenue. KRG fiscal deficit decreased by 80 percent from 2014 to 2016. Spending pressures remain high to assist IDPs and refugees.

 

 

---

 

RELATED

• Iraq’s Economic Outlook - October 2017
• MENA Economic Monitor, October 2017 - Refugees in MENA: Meeting the Development Challenge
• Iraq's Website

Edited October 12, 2017 by Theseus

[Officiallytook]

Seems like its about that time...

[King Bean]

I think their gathering motto should be:  "Our Crushed Infrastructure Needs YOUR Money. Welcome World."

[ChuckFinley]

Man, I hope they do something. It is painful at times dealing with these guys.  

[10 YEARS LATER]

My ex-wife was a real handful and a complete piece of work. What a freaking nightmare-BUT THESE GOT HER BEAT HANDS DOWN !

 

These nut 🥜 jobs are certifiable Banana 🍌 Brains

[Wiljor]

1 hour ago, ChuckFinley said:

Man, I hope they do something. It is painful at times dealing with these guys.  

 

Man, don’t know why someone negged ya Chuck? but i gave ya an emerald anyway  

[Synopsis]

2 minutes ago, Wiljor said:

 

Man, don’t know why someone negged ya Chuck? but i gave ya an emerald anyway  

 

Me, too, on the emerald!