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Planning: Iraq needs 126 trillion dinars to complete the 6,250 projects under construction


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Planning depends on the previous exchange rate of the dollar for one purpose      2020-12-29 15:48   Shafaq News / The Iraqi Mi

Thanks Yota. This is going to be interesting.  Seems like a squeeze play is enacted. I think the Baby is about to breach.....

Go on . . . I dare ya - push the button ! ! ! 

Parliament and private sector portals

Saturday 05 December 2020 17

Parliament and private sector portals

 
Thamer Al Himas
 

Calls for the prosperity of the private sector and its economic importance are very numerous, and this includes its banking and its relationship to the rest of the agricultural, industrial, commercial and educational activities, but when we measure things by their results, this sector is still living in a very narrow field, except for the quantitative expansion in education, in front of the public sector Since 2003, when we entered the transition from state capitalism to a market economy. Perhaps one of the most prominent factors in prolonging the turn is that the private sector, with its agricultural and industrial wings, is due to the absence of legislators who defend it, as the next parliament should have representatives from businessmen and industrialists, private banks, labor unions, teachers, peasant associations, farmers and agricultural companies. The private sector, commercially and financially, has expanded exceptionally in import, and the banking service has been a logistical tributary through the transfer of hard currency and its (very liberal) market, to play a pivotal role, even at the level of digitally supportive companies. After we learned that the stalled and stalled projects amounted to more than 6000 projects, with government projects and factories stalled, paying salaries only since 2003, in addition to a paralyzed mixed sector, why do these opportunities not constitute for Islamic banks, for example, participation, what devotes non-interest in the financial sector? It may need legislation, as well as the rest of the banks and stakeholders, so work with the currency market was and still is the most effective and secure in the foreseeable horizon, at least, and does not need legislation, because the constitution approved the principle of the market economy, and the details of this are according to non-development rhythms. Although the investment law was enacted years ago, the single window (the investor's dream) is still in place, as well as other factors that collide with bureaucratic extortion, so that the latter becomes an essential part of the problem. Perhaps the gaps in the transition to a real economy as an alternative to rentierism, represented in the absence of scientific research in quantity and quality, to become a theoretical weapon in the hands of unions, societies and federations, despite the quantitative expansion of universities that have not moved from education to research, the fact that the commercial nature is a decisive reason, despite the fact that the world's most prestigious universities are civil Like Harvard or Oxford. Sustainable development and the real economy are not achieved through consumer import and the currency market, as they are a guarantee of stability and social balance. As for the state, the agricultural and industrial economy will thrive at the expense of the rentier and parallel economy, the latter is not subject to direct or indirect tax, and this eats into the cliffs of the overall economy. Therefore, the next parliamentary portal will be the only option for industrial and agricultural professionals, with their workers, associations and unions.

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3 governorates preparing project implementation plans within the 2021 budget

 
 Mosul: Shurooq Maher Al-Kut: Hassan Shahid Al-Azzawi Babil: Jinan Al-Asadi
 
The governorates of Nineveh, Babylon, and Wasit have prepared plans for establishing and completing service projects within the 2021 budget. 
The governor of Nineveh, Najm Al-Jubouri, told Al-Sabah: The governorate still lacks many projects in the field of reconstruction in most areas, in addition to the high unemployment rate, pointing out that there are many projects completed during the year 2020 from the amounts of reconstruction of the affected areas and the reconstruction and stability funds granted by the government. To complete more than (600) projects in progress. 
He added that the government is serious about stabilizing and continuing the wheel of reconstruction to start a number of projects in Sinjar district, the Old City and Ayman Mosul during the 2021 budget.
Al-Jubouri stated that the local government has begun to restore services in Sinjar and Ayman Mosul, such as delivering water, health and education, and rehabilitating destroyed streets, bridges and bridges as well.
In the same regard, the Governor of Wasit, Dr. Muhammad Jamil Al-Mayahi, told Al-Sabah: The local administration in the governorate held its first quarterly meeting of the local coordinating body that was formed according to Article 45 / First of the Amended Governorates Law No. 21 of 2008 in the Region. The issuance of decisions, including activating periodic meetings of administrative units with directors of sub-departments and coordinating efforts for the purpose of overcoming problems and obstacles related to projects and services and completing the requirements for approval of the 2021 project plan, in addition to forming a specialized committee for the purpose of delegating administrative, technical, legal and financial powers to representatives, assistants, advisors, heads of administrative units and departments 
Central.
He indicated that the meeting recommended paying attention to the issue of tax collection by granting 2 percent of the amounts to the collection and opening account units for administrative units to maximize revenues and activate the decision to remove violations of state property and prevent the fragmentation of agricultural lands. 
In Babylon, Deputy Governor Wissam Aslan al-Jubouri told Al-Sabah: The local government has begun preparing projects that will be referred within the 2021 budget after the Ministry of Planning issues its instructions in this aspect, in order to complete all the stalled projects, especially service. 
And healthy.
He mentioned that there are many projects that have stopped due to the lack of financial allocation and the implementation of the important service projects has been directed, referring to the completion of the building project of the Hashemite Education Directorate and the opening of the Amadiya River project and the water pumping project.
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Iraq prepares its industrial cities for investment

 
  Baghdad: Shatha Al-Janabi
 
Iraq is close to announcing new investment opportunities in the industrial cities in the provinces, with the aim of attracting foreign and local investments to implement promising projects in the country. 
The director of planning and studies at the General Authority for Industrial Estates affiliated with the Ministry of Industry, Amal Al-Bazouni, told Al-Sabah: “The authority is working to transform industrial cities into model cities with integrated services to be civilized cities, as well as paying attention to industrial development as a basic source of national income through resettlement. Factories in cities to serve as integrated industrial complexes in which all the elements of basic services and equipment are available, and work to encourage the private sector to invest in them. Currently, we are working to follow the issues of urban investment.
She added, "The Commission is following up with the Anbar Governorate and the relevant departments in it to deliver basic services to the borders of the industrial city in the province, which has an area of 3000 dunums, and there is great cooperation by the governor in this aspect, as there are many investment opportunities and privileges offered in the province to investors."
She indicated, “The commission is seeking to announce the industrial city in Najaf soon as an industrial investment plan, and its announcement has been delayed due to the delay in the legislation of the industrial cities law and the settlement of the return of its land, indicating that the city has a strategic location It is close to the Najaf Sea, its fertile land and close to the sources of infrastructure, with an area of 6000 dunams. ”
Al-Bazouni explained that "the commission is taking measures to establish another industrial city in Nineveh governorate, with an area of 425 dunams, and has taken the initiative to submit a working paper and plan that includes the required procedures, from preparing the site, studying it, and clearing it of concerns, while preparing feasibility studies and submitting plans for the entire city." .
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126 trillion dinars, the value of completing the lagging projects

 
  Baghdad: Omar Abdul Latif
 
The estimated value of completing the lagging projects across the country is 126 trillion dinars, according to what was confirmed by the head of the House Finance Committee, Haitham al-Jubouri.
Al-Jubouri explained, to "Al-Sabah", that "about six thousand projects are lagging in the whole country, the total value of their completion is about 126 trillion dinars." It is difficult to complete it during the next stage ».
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Construction of 600 homes begins in Old Mosul

Monday 21 December 2020 29

Construction of 600 homes begins in Old Mosul

 
 Mosul: Shorouk Maher
 

Yesterday, Nineveh Governorate began rebuilding 600 destroyed homes in the Old City of Mosul.

The governor of Nineveh, Najm al-Jubouri, told Al-Sabah: The houses that the engineering and technical staff in the municipalities of Nineveh began to construct are part of the eighth phase of the project to rebuild the destroyed houses in the old city of Mosul, the center of Nineveh Governorate.
He added that the engineering cadres set the duration of the construction of these homes until the beginning of next April, noting that the engineering cadres in the municipalities of Nineveh and in cooperation with the companies of the Ministry of Construction and Housing and the public municipalities, opened yesterday Sunday also five production plants after the destruction caused by the occupation of Ayman Mosul. By the dark people of "ISIS" before being liberated from them, indicating that the factories were divided between flour, sugar, vegetable oils and others.
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Parliamentary efforts to complete the suspended Baghdad Train Project file

 
Baghdad: Omar Abdul Latif
 
The Parliamentary Services and Reconstruction Committee seeks to resolve the suspended Baghdad train project file as soon as possible, while the committee confirmed the completion of 80 percent of the technical procedures. Committee Chairman Walid Sahlani said, in an interview with Al-Sabah: “The committee agreed with the Ministry of Planning to grant loans. Which is granted to Iraq to strategic projects, including the Baghdad Suspension Train, ”affirming“ the committee’s refusal to finance any secondary project from those loans. ”He added that“ financing the project is one of the important points, ”noting that“ the French company that took on the project is interested in one way or another. Lastly, on this subject, and through the committee's follow-up with the ministry, there are measures to speed up the completion of everything related to this project in terms of financing. ”Sahlani explained the reasons for delaying the implementation of the project to the administrative bureaucracy, explaining that“ the company that submitted its offer to Iraq is the same that it accomplished in the Emirates. ”He pointed out that “the suspended train was the responsibility of the Baghdad Municipality and the failure to resolve its file led to its transfer to the governorate, which also delayed its completion as it needed a central institution capable of accomplishing, which led to the latter to transfer all files and plans to the Ministry of Transport, which took the project and formed a committee Headed by the Administrative Undersecretary, Al-Sahlani explained that "the committee will make every effort to resolve the file during the current parliamentary session."
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 2020-12-29 15:48
 

Shafaq News / The Iraqi Ministry of Planning announced on Tuesday that it will adopt the previous exchange rate for the dollar for mathematical purposes related to investment projects exclusively until the end of this year.

 

The Undersecretary of the Ministry of Planning, Maher Hammad Johan, said, in a statement received by Shafaq News, that "the ministry had previously approved the new exchange rate approved by the Central Bank for the purpose of foreign currency appropriations for projects in the general budget at the beginning of December."

 

He pointed out, "The agreement with the Ministry of Finance, at its request, to adopt the previous exchange rate (1182) dinars to one dollar, until the end of the year, for accounting purposes related to investment projects, their restrictions and their calculation with government agencies at the previous prices of the dollar."

 

Johan added, "The adoption of the aforementioned exchange rate is for the purposes of investment projects, until the end of this year, while the new exchange rate will be adopted at the beginning of 2021."

 

He pointed out that "the Ministry of Planning is now working to present a study on the effect of the exchange rate difference on investment projects to ensure their implementation."

 

The Iraqi Central Bank decided last week to reduce the value of the local operation to 1445 dinars per dollar, with the aim of providing liquidity to reduce the stifling financial crisis.

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Shafaq News / The Iraqi Ministry of Planning announced on Tuesday that it will adopt the previous exchange rate for the dollar for mathematical purposes related to investment projects exclusively until the end of this year.

 

The Undersecretary of the Ministry of Planning, Maher Hammad Johan, said, in a statement received by Shafaq News, that "the ministry had previously approved the new exchange rate approved by the Central Bank for the purpose of foreign currency appropriations for projects in the general budget at the beginning of December."

 

He pointed out, "The agreement with the Ministry of Finance, at its request, to adopt the previous exchange rate (1182) dinars to one dollar, until the end of the year, for accounting purposes related to investment projects, their restrictions and their calculation with government agencies at the previous prices of the dollar."

 

Johan added, "The adoption of the aforementioned exchange rate is for the purposes of investment projects, until the end of this year, while the new exchange rate will be adopted at the beginning of 2021."

 

He pointed out that "the Ministry of Planning is now working to present a study on the effect of the exchange rate difference on investment projects to ensure their implementation."

 

The Iraqi Central Bank decided last week to reduce the value of the local operation to 1445 dinars per dollar, with the aim of providing liquidity to reduce the stifling financial crisis

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18802.jpg
Infrastructure projects. "Internet"
  

 Reconstruction and building


Economy News - Baghdad

The Roads and Bridges Department announced, on Sunday, the package of projects that will enter service at the beginning of this year, confirming that the high exchange rate of the dollar will affect ongoing projects, while indicating that there are ten main roads that will enter service, including the "road of death" in Diwaniyah during the next two months. 

The director general of the department, Hussein Jassim Kadhim, said, "There is a large package of works and projects, which have reached advanced completion rates, which will enter service at the beginning of this year," according to "Wawa".

He added: "There are more than ten main road projects that will enter service in the next two months, including the Diwaniyah road, which will be an addition to enhancing security and safety for those who walk this road, due to the large number of accidents on it, which is called the road of death, in addition to that it is hoped that other roads will be opened. , Such as the roads of the villages of Umm Radan and Abu Ghar in Dhi Qar. "

He pointed out, "Near the opening of important bridges, including the Dera'a Tigris Iron Bridge, the Staff Junction Bridge, and the Al-Musayyib Iron Bridge, after completing the maintenance work that was completed during the past period."

"The beginning of this year will be the date for the completion of the third bridge in Mosul, as well as the opening of the expressway, whose completion rate has reached more than 90%, during the next two months," Kazem explained.

With regard to the impact of the high exchange rate of the dollar against the dinar, he pointed out that "the dollar exchange rate will affect the continuity and implementation of projects, because most of the materials involved in the implementation process are imported, and need re-pricing according to the new prices."

He stressed that "the dollar will be a ruler in relation to compensation for companies implementing and based on these projects," noting that "this issue is outside the authority of the department, and it is within the jurisdiction and authority of the Ministries of Planning and Finance."

 
 
Number of observations 420   Date added 01/03/2021
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5 hours ago, DropItLikeItsHot said:

BUT who's on first?

do you mean who is the first " honest thief "? first, if there is a death penalty or punishment ( a jail time ) to return 350 trillion dinar, then i am pretty sure none of the thieves dares to confess and return it. second, if there is a reward ( without a death penalty or a punishment for all of the thieves ), then i am pretty sure none of the thieves dares to confess and return it too becauase the thieves think this may be some kind of a trick or trap or set up to catch the thieves. LOL

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Iraqi planning: preparing a program to follow up investment projects

Iraqi planning: preparing a program to follow up investment projects
Iraqi Ministry of Planning
 

Mubasher: The Iraqi Ministry of Planning announced today, Wednesday, the preparation of a special program to follow up investment projects in all governorates, while it indicated the launch of the job number project in state departments.

"The electronic governance system is very important, especially as it links the work of the ministry with other relevant authorities," ministry spokesman Abdul Zahra Al-Hindawi told the Iraqi News Agency (INA).

And he indicated that "the Ministry of Planning was one of the first ministries that were involved in implementing this system, activating and benefiting from its outputs, especially as it links the work of the ministry with other relevant authorities."

He explained, "The Ministry has prepared a special program for following up investment projects in all governorates, in addition to launching another program for registration and classification of contracting companies and contractors that can complete the registration requirements through the electronic window, in addition to launching the advanced center window related to government contracts, by asking questions about The problems facing ministries or other bodies, and the answer comes directly from the window. "

He added, "The electronic governance system has made investments in time and agencies and speeding up the completion of transactions," referring to the launch of the job number project for state employees, which is an electronic platform that aims to close corruption outlets, reduce effort and prevent duplication in the job, as it has started registering more than two million employees across the country and the procedures. A list to supplement the rest of the staff. "

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The Investment Authority works to create an attractive environment for capital

 
 Baghdad: Morning
 

The President of the National Investment Commission, Suha Dawoud Najjar, confirmed that the commission is working according to a deliberate strategy aimed at creating an attractive environment for capital investment in a manner consistent with the economic development plan pursued by the government, and Najjar said during her meeting with a delegation from the House of Representatives at the headquarters of the Commission, headed by the head of the Integrity Committee, the Deputy Thabit al-Abbasi and the membership of each of the deputies Khaled al-Ja`ami, Kathim al-Shammari, Taha al-Dafa’i, Faleh al-Ziyadi and Mayada al-Najjar, “The Commission supports the private sector by providing all facilities, which are guaranteed by Investment Law No. 13 of 2006 and its amendments, including customs and tax exemptions for every investor who wishes to work in Iraq, after That his investment project obtain an investment license.

According to the Iraqi Investment Law No. (13) of 2006 and its amendments, the Single Window and Investor Services Department has responsibilities to “receive investment applications, study them and verify their compliance with the conditions stipulated by the law and the investment system”, and “approach the relevant departments and sectoral authorities and obtain original approvals. Necessary to issue the investment license and to follow up the implementation of the regulations and instructions, ”in addition to“ approaching the relevant authorities for the purpose of allocating lands for investment projects. ”After issuing the investment license, she is responsible for following up the investment projects and preparing the position of completion rates and cases of delay in accordance with the schedule previously provided by the investor.

The President of the Authority accompanied the visiting delegation on a tour inside the corridors of the Authority, during which they were briefed on the mechanisms of work in the departments and divisions of the Authority, including the Single Window Department, which is concerned with obtaining the necessary approvals for the establishment of any investment project from the ministries and relevant state institutions, through representatives of those departments, in a way that contributes to facilitating procedures Legal necessary to grant the investment license. 
The Single Window Department in the Commission is the main gateway for communication with the investor and providing an appropriate investment environment in Iraq, stimulating the real participation of the private sector and encouraging local and foreign investments by removing all bureaucratic obstacles, facilitating the investor’s task to obtain the privileges granted to him under the applicable investment law, and providing answers to Inquiries submitted by investing or wishing to invest.
The visiting delegation was briefed on the authority’s work plans with its investment policy for the next stage in attracting successful investments that would ensure the advancement of the investment reality in Iraq and praised the commission’s continuous efforts in this regard.
It is noteworthy that the procedures for granting an investment license begin with studying and auditing the application form prepared by the commission (available on the website) and submitted by the investor after including the required documents represented by (the executive summary of the investment project, the economic feasibility study of the project, the financial efficiency document from an approved bank. As well as the timetable for the completion of the project, with the documents of the projects implemented by the investor (4 maximum), along with the legal basis for the relationship of the applicant with the investor, a copy of the official documents (nationality or passport) for the natural person, and a copy of the official documents (nationality or Passport) for the applicant, with the company's articles of incorporation, certificate of incorporation, and certificate of incorporation of the office of the company or the investing entity or its branches in Iraq, or outside Iraq (only for a legal person).
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Governmental meetings in Iraq to move the stalled projects file in the provinces

Governmental meetings in Iraq to move the stalled projects file in the provinces
Iraq - archive photo
 

 

Mubasher: The spokesman for the General Secretariat of the Iraqi Council of Ministers, Haider Majeed, said that there are continuous meetings to move the stalled projects file in the governorates.

Majeed confirmed, in a special statement to the Iraqi News Agency (INA), today, Friday, that sub-committees have been formed and coordination with the Ministry of Housing and Construction and Dhi Qar Governorate, and that the teams went to the province, and four projects that had been stalled for 8 years had already been moved.

The spokesman added that 3 of the stalled projects have been opened within one month, while the fourth project is still under trial, while work continues on the fifth project, the Turkish Hospital, which will be completed soon.

Majeed emphasized that the Supreme Committee for Services and Reconstruction took upon itself to open up to all governorates, and that it had held four meetings in more than 9 governorates to move the stalled projects file.

He pointed out that during those meetings, some projects were discussed, and that the war that the security services had waged against "ISIS" terrorist gangs since 2014 was the main reason behind the stoppage of many projects.

The spokesman pointed out that the formed committee and the General Secretariat of the Council of Ministers have turned to projects in which advanced completion rates have been achieved and need little money in the governorates of Dhi Qar, Kirkuk, Basra, Wasit, Maysan and Muthanna in order to move the stalled projects.

 And Majeed added, that action will be taken on projects whose completion rates reach 50 or 60 percent or more, and that projects that have not achieved good completion rates and some of them are extinct, they need a long time and huge money to complete them.

 

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Iraqi "planning" determines ways to benefit from high global oil prices

Iraqi "planning" determines ways to benefit from high global oil prices
Iraq oil
 

 

Mubasher: The Iraqi Ministry of Planning has identified ways to benefit from the high oil prices in the global markets, which are expected to reach $ 65 a barrel.

Ministry spokesman Abdul Zahra al-Hindawi told the Iraqi News Agency (INA), today, Wednesday, that "the budget has been placed on an estimated price of oil that is $ 45 a barrel, while there are expectations that the price of oil in global markets will reach $ 65 per barrel, confirming that a price surplus will be achieved." Given that Iraq sells its oil for 5 dollars less than the world market. "

He added, "The difference in price will go in two directions, the first is to bridge the budget deficit, and the other, if it continues to rise, will be made in the second half of the fiscal year to a supplementary budget to benefit from in the investment and operational aspects."

A spokesman for the ministry indicated that "high oil prices will have a positive impact on investment projects, as there are more than 6 thousand projects under completion throughout Iraq."

 

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On 11/21/2020 at 10:02 PM, rvmydinar said:

Iraq need 126 trillion dinar for a project. The question is who will want to borrow them money without any benefit and advantages? Unless it rv at least 1:1 and we are talking business. Win win solution. Come rv.

Atleast 1.20

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53 minutes ago, PrehistoricMan said:

WHEN though?  Seriously do you have any kind of possible timeline.  Since I respect you with your positivity, I hope you will answer this one.

I am don’t do time frames but was trying to get credit for 40000 dollars to buy shares urgently because I personally think tine is running out my view is we will see it before April 29. That’s it....I think Iraq is part of a bigger plan and play! Iran has no control so I am not worried about them I believe they are snowballing and will do it within weeks. I am just about to buy more shares trying to sneak my last few orders in before time runs out 

Edited by screwball
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55 minutes ago, screwball said:

I am don’t do time frames but was trying to get credit for 40000 dollars to buy shares urgently because I personally think tine is running out my view is we will see it before April 29. That’s it....I think Iraq is part of a bigger plan and play! Iran has no control so I am not worried about them I believe they are snowballing and will do it within weeks. I am just about to buy more shares trying to sneak my last few orders in before time runs out 

Shares?  I am asking about the dinar here.

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