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The "white paper" .. The Iraqi parliament signals a single solution to the salary crisis


Mary B
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POSTED ON 2020-10-07 BY SOTALIRAQ

The "white paper" .. The Iraqi parliament signals a single solution to the salary crisis

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The Finance Committee of the Iraqi Parliament confirmed today, Wednesday, that the solution to the Iraqi state employees' salary crisis is through the approval of the "white reform paper".

Committee member Naji Al-Saeedi said, "The white reform paper expresses economic reform in the aspect of fiscal and monetary policy," indicating that "this paper includes creating real economic resources to consolidate the existing financial resources and reduce unnecessary existing spending."

Al-Saeedi explained that this "helps in finding additional revenues for the budget and reducing the deficit, which will positively affect the provision of employees' salaries and secure them during the coming period."

Al-Saeedi indicated that "the white reform paper expresses a future vision for the Iraqi government, in cooperation with the House of Representatives in order to end the employee salaries crisis, as well as other financial and economic crises, and this paper is not part of the solution but rather the entire solution."

He added that "after the approval of the white reform paper during the coming period, its implementation will be followed up by the Iraqi parliament, and we will see how serious the government is implementing what was mentioned in this paper, and on the contrary, we will have a position."

On June 22, 2020, Prime Minister Mustafa Al-Kazemi announced the preparation of what he called the "White Paper", which includes economic, financial and administrative reforms, and it is scheduled to be sent to the Iraqi Parliament for the purpose of discussion.

The government of Iraqi Prime Minister Mustafa Al-Kazemi is facing increasing criticism for its inability to secure sufficient liquidity to pay the salaries of state employees, which may expose it to tremendous pressure in the coming months.

By the end of a week in October, the government had yet to disburse employee salaries for the month of September.

The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices due to the Corona pandemic, which has crippled large sectors of the world economy.

The country relies on revenues from selling crude to finance 95 percent of state expenditures.

The revenues from oil sales amounted to about $ 3.1 billion in September, while the monthly salaries of state employees in Iraq are about $ 5.5 billion.

http://www.sotaliraq.com/2020/10/07/الورقة-البيضاء-البرلمان-العراقي-يؤش/

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"White paper." Iraqi parliament signals one solution to salary crisis
1601288353263.jpeg
 2020-10-07 07:28
  
Shafq News/ The Finance Committee of the Iraqi parliament confirmed on Wednesday that the solution to the salary crisis for Iraqi state employees is through the adoption of the "white reform paper".

"The white reform paper reflects economic reform on the fiscal and monetary policy side," committee member Naji Saidi told Shafq News, adding that "this paper involves finding real economic resources to support existing financial resources and reduce existing unnecessary spending."

"This helps to create additional revenues for the budget and reduce the deficit, which will have a positive impact on the provision of salaries for employees and their insurance in the coming period," said Saidi.

"The white reform paper reflects a vision for the future of the Iraqi government, in cooperation with the Parliament, in order to end the staff salaries crisis, as well as other financial and economic crises, and this paper is not part of the solution, but the whole solution," said Saidi.

"After the adoption of the white reform paper in the coming period, it will be followed up by the Iraqi parliament, and we will see how serious the government is by implementing what this paper says, and otherwise we will have a position," he said.

On June 22, 2020, Prime Minister Mustafa al-Kadhimi announced the preparation of what he called the "White Paper", which includes economic, financial and administrative reforms, which are to be sent to the Iraqi parliament for discussion.

Al-Kadhimi's government is facing increasing criticism for failing to secure sufficient liquidity to pay salaries to state employees, which could put it under enormous pressure in the coming months.

With one week in October, the Government has not yet paid employees' salaries for the month of September.

The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices caused by the Corona pandemic, which has crippled large sectors of the world's economy.

The country relies on raw sales revenue to finance 95 percent of state expenditures.

Oil sales revenue swelled to about $3.1 billion in September, while the monthly salaries of state employees in Iraq amounted to about $5.5 billion.

https://shafaq.com/ar/اقتصـاد/الورقة-البيضا-البرلمان-العراقي-ي-شر-حلا-وحيدا-ل-زمة-الرواتب

 

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1 hour ago, Mary B said:

"The white reform paper reflects economic reform on the fiscal and monetary policy side. The white reform paper reflects a vision for the future of the Iraqi government. This paper is not part of the solution, but the whole solution," said Saidi.

 

              Or, in terms that even Luigi can understand.......the WHOLE ENCHILADA !!  :twothumbs:

 

Whole Enchilada Fiesta is toast » Albuquerque Journal

 

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IBBC Advisory Council’s discussion goes public on the white paper ‘Iraq 2020: a country at the crossroads.’

15th Jun 2020

webinar-photo.png?time=1601640418

Today over 300 people signed up the IBBC Advisory Council’s public discussion on the white paper – Iraq 2020: a country at the crossroads, sponsored by Iraq Business News ( IBBC media partner)  and in conjunction with Chatham House and IRIS at AUIS.

With a full panel of 6 advisors and commentators, including Ms Maya Gebeily of Agence-France Presse, Mr Ahmed Tabaqchali of IRIS at AUIS, and the key advisory panel members led by Professor Frank Gunter of Leigh University, Dr Renad Mansour, Fellow at Chatham House, Mr Hani Akkawi of CCC and Professor Mohammed Al-Uzri, University of Leicester University. Mr Christophe Michels, MD of IBBC chaired the discussion.

The key points were delivered by Professor Gunter, including, the necessity to provide: 1. Strong cross-party political support to GOI for its initiatives; 2. Transparency to build support and trust among the people and to stop corruption up and down the system. 3. GOI acceptance of the limits of its ability to control and centralise economic activity- and afford to make space for the Private sector.

Dr Mansour made critical points about the importance of the political economy and the requirement to listen and understand the needs of the protestors and conversely the protestors ability and requirements of government to make changes, along with the difficulty in enacting reforms while the public sector has too much invested in its continuation.

Mr Hani Akkawi, made an unmissable point about the opportunity for areas of industry to be returned to the private sectors, such as electricity, water, fertiliser and transport, that would not only raise finance, but help efficiency and productivity.

Underpinning the report are 5 key action points and a further 38 recommendations that the GoI may be able to make to address the economic crisis that faces the country, including; business deregulation, inclusion of the informal business sector into legal acceptance, ending subsidies on electricity and water production, am improved banking system with credit for private sector businesses, an anti-corruption drive and dealing with COVID-19 without jeopardising the private sector.

 

full article here  Executive Summery 

 https://secureservercdn.net/160.153.138.177/p40.b46.myftpupload.com/wp-content/uploads/2020/05/2020-05-14-Iraq-Economic-Outlook.pdf

 

https://iraqbritainbusiness.org/news/ibbc-advisory-councils-discussion-goes-public-on-the-white-paper-iraq-2020-a-country-at-the-crossroads

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08-10-2020 11:40 AM

Deputy: All oil-producing countries depend on investment to strengthen their economy except Iraq !!

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Baghdad / Al-Akhbariya

The deputy of the Al-Fateh Alliance, Thamer Theban Al-Hamdani, said today, Thursday, that all oil-producing countries rely on investment to strengthen their economy, except Iraq, while calling on the government to present the economic reform paper and maximize state resources by relying on other non-oil resources.

Al-Hamdani told Al-Ikhbariya, “Iraq must realize that oil alone is not enough under the current circumstances of a drop in prices due to the Corona pandemic and price discrepancies in global markets,” calling for “real steps to be taken and serious and effective work in the matter of controlling ports. Borders, customs, taxes, etc., as well as real control over oil resources. "

He added that "total dependence on oil has made Iraq a rentier country, and this is totally untrue because most countries in the world have oil, but they depend on investments and on other revenues," noting that "the governments that have been in succession on Iraq from 2003 until today have completely relied on oil and this is not." Glory. The world is moving towards clean energy and dispensing with oil, so there must be a thoughtful plan to take advantage of some important resources and activate them in the short term. "

Al-Hamdani pointed out that "the economic crisis is a matter of the exclusive jurisdiction of the executive government, and it is required to submit the economic reform paper to the House of Representatives for approval and discussion as soon as possible."

https://www.ikhnews.com/index.php?page=article&id=228465

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A deputy for Saeron believes that the election law will not be resolved in the next session

8102020135640f16bbd575cf0c0e97bc1d000f4cDigital Media NRT

The deputy of the Sairoun Alliance, Sabah Talobi, confirmed, Thursday, that some political blocs are not consistent with the issue of multiple districts, because they will lose a lot of seats, while it is likely that the election law will not be resolved during the next parliament session .

Taloubi said, in a press statement, followed by Digital Media NRT, today, October 8, 2020, that "the session next Saturday, on the 10th of this month, will not resolve the election law, because the issue of agreeing on multiple districts takes a longer period."

He added that "the multiple departments are still the subject of disagreement between the blocs, and until now has not been resolved," expressing his hope "to reach an agreement on the issue of multiple departments during the coming days."    

He explained, "All the existing blocs are moving towards more than one circle, that is, from 3 circles and above, and therefore we are waiting for agreement on one of these departments."

He pointed out that "some blocs do not want multiple districts because they will lose a lot of seats. They do not fit into the issue of districts for more than 5 constituencies. Therefore, a final agreement must be reached on the number of districts, in order to vote on the election law."

https://www.nrttv.com/Ar/News.aspx?id=33281&MapID=2

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With "lengthy" lines, an economist "detonates" a bomb: Is the salary crisis contrived and there is no deficit?

2020-10-08
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Yes Iraq: Baghdad

Economist Imad Abdul Latif, today, Thursday, elaborated on the transmission of a “huge” opinion to what he described as his “professor”, the economist Dr. Ahmad Al-Buraihi about the problem of the government's inability to pay employees' salaries, and clarifying the confusion and confusion between the general budget, the cash budget, and the financial management crisis in Iraq".

 

Abd al-Latif, in his lengthy explanation followed by Yass Iraq, began by asking: “Is the“ problem ”of the government's inability to pay employees’ salaries a “fabricated”, “fabricated” and immediate problem that is being exaggerated in the short term .. and it is solvable in the long run Al-Taweel .. and that the monetary and financial institutions (and authorities) in the country know the causes and dimensions of this “problem” well, and know (and this is the important thing) that they are able to develop appropriate solutions for them, with the means and resources available to them?

 

He added, “About this question, my esteemed professor and the beautiful Iraqi mind, Dr. Ahmad Ibrihi Ali, answer the following:

The problem is not in salaries, as the current crisis can be managed with internal borrowing, and the Central Bank is helping government banks to perform this task, for the remainder of 2020 and 2021.

- The delay in the payment of salaries occurred due to obstacles of a coordination and procedural nature between the government and the parliament. And that it is easy to overcome these obstacles, and it is expected (logically) that salaries will not be late, nor should they.

- There is always fear of intimidation and confusion between medium and long-term goals, that is, between those goals related to development and diversification, on the one hand, and the ongoing management of financial and monetary operations on the other hand.

And here it is no secret for any Iraqi, or those familiar with the economic affairs of Iraq, that the general budget revenues, other than crude oil, appear to be non-existent, and that the financial sector is strange in its underdevelopment .. No taxes are sought, nor are bonds bought by the public .. What remains but borrowing from the banking system, and what remains other than auctions, satirical poems that do not work.

- There is an axiom that the deficit in Iraq is twin, or double, that is, a deficit in the balance of payments, and a deficit in the state's general budget. This occurs because oil exports are almost the only source of foreign exchange, which when the price collapses below the volume required to finance imports of goods, services and other payments.

- The problem of Iraq and the threat looming in the future is the potential deficit of the balance of payments, not the deficit in the state's general budget.

Emphasizing the need to prepare the cash budget (or management cash) as a basic element in managing public spending to avoid surprises and sharp changes, as much as possible, and also to regulate borrowing whose close relationship with the monetary policy and international reserves of the Central Bank is not hidden.

- The core issue in the monetary budgets in Iraq is the distinction, without ambiguity, between two systems of funds and inflows and outflows, namely: funds, resources and uses in foreign currency, and another in the national currency.

- Here, we must abandon the approach recognized in the Ministry of Finance, which is that resources and uses are the same, and are expressed in two currencies: a dinar and a dollar. The budget, according to the prevailing and influential perception in decision-making circles, is oil revenues in dollars that are mathematically translated into dinars and spent.

- This understanding was behind a lot of confusion, and was also a major reason for impeding the development proposals. This understanding is the truest expression of the reason for the split between the external balance of payments and the general budget in Iraq, in thinking and economic policy, and it is also one of the causes of theoretical ambiguity and neglecting the realistic difference between the necessities and implications of internal and external borrowing. (For more details, see Professor Ibrihi’s study, the task: “Budgets Cash to the government finance department, ”link is mentioned in the comments).

Hence the necessity to focus on building productive capacities destined for export. (Professor Ibrihi had previously presented (in his latest research) a brief proposal for an investment program for this purpose) .. And now also, here he is repeating his call to everyone who is keen on the future of children and grandchildren, to be a support and aid in order to focus awareness on an investment program to build Productive capacities for export, and that the government immediately commits to it.

The economy, any economy, is limited by two restrictions: the domestic productive capacity restriction, and the balance of payments restriction. As long as the economy does not approach the limits of production capacity, as is the case in Iraq, the explosion of inflationary waves is not afraid, regardless, yes, regardless of how the public budget deficit is financed.

- But the problem here lies in the restriction of the balance of payments, because the foreign exchange inflows into Iraq are less than the annual demand. Until now, the reserves of the central bank are still filling this deficiency between foreign exchange inflows and annual demand, and imports are still funded in the required volume..and this process (with the continuation of the low level of oil price) will reach its maximum limits .. Yes, it will reach its maximum limits if we remain We are unable to find solutions ... but not in 2021.

- Everyone (economists, or those concerned with economic affairs) should review the data of the World Bank (WDI) (World Development Indicators | DataBank) data ... as it will become clear to them that the percentage (or share) of manufacturing exports to total exports constitutes more than 70% The world level), and in the countries of East Asia and Germany, this percentage reaches 80%, then 90%.

Therefore, Professor Ibrihi suggests that 70% of the non-oil exports targeted in the investment program be from the share of the manufacturing industry, and the remainder from non-oil mining (including gas and agriculture), and that we have no other choice. As for the infrastructure, there are specific proposals for their development.

- With great regret, the members of Parliament, the government (including the Ministries of Planning and Finance), as well as economics professors, have insisted on defining the problem as a problem of deficit in the state budget, when in fact it is a problem of deficit in the balance of payments.

Mr. Ibrihi concludes his answer by stressing that the problem is not in salaries, nor in “monetizing debt,” but rather in distracting awareness from the necessity of economic growth through industrialization ... that miraculous historical process that made the civilization of this world.

https://yesiraq.com/بسطور-مطولة-خبير-اقتصادي-يفجر-قنبلة/

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Barzani: The Kurdistan Region faces an opportunity to become an important commercial center

 
 
  • Barzani: The Kurdistan Region faces an opportunity to become an important commercial center

 2020-10-08 10:29
 

Shafaq News / The Prime Minister of Kurdistan Regional Government, Masrour Barzani said on Thursday that the region faces an opportunity to become an important commercial center in Iraq and the region.

This came during his supervision of a meeting of the Supreme Economic Council in the presence of Deputy Prime Minister Qubad Talabani and a number of concerned ministers and governors, according to a statement issued by the regional government received by Shafaq News.

At the outset of the meeting, the Prime Minister indicated that “although the Kurdistan Region, Iraq, and the world in general are facing a difficult economic situation, the ninth ministerial formation continues in its work aimed at developing and reviving the economy in order to establish a solid and effective economic structure.”

The Prime Minister emphasized that "the Kurdistan Region has an opportunity to become an important commercial center in Iraq and the region in order to attract foreign investments to implement strategic projects."

In another paragraph of the meeting, Cabinet Secretary Amang Rahim presented a report of the special committee concerned with the problem of the quality of gasoline and imported fuels, and in light of this, all proposals to solve the problem were approved, including unifying and updating technical, health and environmental safety standards for the quality of these fuels and throughout the region.

It was agreed to organize and develop central laboratories for checking the quality of fuels and to reinforce them with the necessary checking devices and supplies. It was also decided to direct the Ministry of Interior and Commercial Security and commercial control teams to follow up the issue of the quality of imported fuels at border points, fuel depots and fuel stations, and to prevent anyone who uses inappropriate chemicals to raise the quality of gasoline in a manner. It is unsound, which negatively affects the health of citizens, endangers their lives and casts a shadow over the environment of the Kurdistan Region, as well as its negative consequences for the economy. The Council of Ministers authorized the concerned authorities to take the most severe legal measures against violators.

It was also stressed at the meeting that taxes should be collected from the profits of companies importing fuel, provided that these measures do not contribute to increasing fuel prices for consumers.

In another axis of the meeting, the Prime Minister presented the outlines of the draft law on intellectual property protection, which aims to protect intellectual rights in all artistic, literary, scientific, commercial and industrial fields, to support the artistic and scientific movement and protect the rights of workers in these areas.

The Legal Committee in the Council of Ministers was directed to expedite the review of the draft law, to be prepared and presented to the Council of Ministers for approval and referred to Parliament, because this law has an important role in stimulating the economy and stimulating companies in light of supporting intellectual property rights, as well as to prevent any violation of these rights As well as putting an end to the operations of counterfeiting and forgery of products and preventing unfair competition.

https://shafaq.com/ar/كوردســتانيات/بارزاني-قليم-كوردستان-مام-فرصة-ليصبح-مركزا-تجاريا-مهما

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Working for {Lefrat News}: Al-Wajbah 29 loans will be launched soon, and online submission

  •  Time: 10/08/2020 19:37:54
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Working for {Lefrat News}: Al-Wajbah 29 loans will be launched soon, and online submission
  
(Baghdad: Al Furat News) The Ministry of Labor and Social Affairs announced, on Thursday, the imminent launch of the 29th batch of loans for the unemployed and youth employment.

The ministry's spokesman, Ahrar Zalzali, told {Al-Furat News} that "Soon the 29th meal will be launched for borrowers, which will depend on the ministry’s funds that were recovered from previous loans, and we are waiting for those funds to be counted to accommodate a specified number of borrowers, indicating that“ the applicant for the loan must be registered. The ministry has an unemployed person, meaning that the ministry will call within a few days to update the data and obtain advice before launching the new meal. ”
She indicated that“ the 28 meal that was launched at the end of the seventh month included 5 thousand beneficiaries, two thousand of them were handed over and we are about to complete the procedures of three thousand Others during the coming period, noting that "soon we will announce the introduction to the new meal 29, which will be submitted electronically."

It added, "There is a delay in the repayment of loans Estrada as a result of the recent circumstances that the country has gone through, in addition to the spread of the Karuna virus, which has directly affected the economic process and workflow in general and loan repayment in particular."
And she continued, "The ministry requested the government, through a letter submitted to the General Secretariat of the Council of Ministers and the Ministry of Finance, to increase the funds allocated to the loan fund, which has not been financed since 2012, and the funds of the fund have been allocated to support small income-generating projects, and that increasing them means increasing the number of loans provided within three programs {r loans. Small within the fund, the strategic program for poverty alleviation, and the community-based rehabilitation program} ".

https://alforatnews.com/news/العمل-لـ-الفرات-نيوز-قريبا-تطلق-القروض

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 {Euphrates News} reveals important details about the Baghdad-Erbil agreement regarding Sinjar

  •  Time: 10/09/2020 00:29:45
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{Euphrates News} reveals important details about the Baghdad-Erbil agreement regarding Sinjar
  
{Baghdad: Al Furat News} The mayor of Sinjar district, Mahma Khalil, revealed the details of the forthcoming agreement between the federal government in Baghdad and the Kurdistan regional government in Erbil regarding the normalization of conditions in the district.

The district of Sinjar is the stronghold of the Yazidis and is located in the northeast of Nineveh Governorate.
Khalil told Al-Furat News that the agreement includes "the normalization of the situation in the judiciary, the return of the displaced, the legitimate administration and the exit of the illegal forces."
He added, "According to the agreement, joint judiciary administration and coordination between the federal government and the region will be."
Khalil stressed the consensus of Baghdad and Erbil regarding "the illegal forces of the Kurdistan Workers Party (PKK) leaving the judiciary and for the Federal Police forces to take over the security file in it."
Qaimam Sinjar did not disclose how the PKK forces left the judiciary, and whether there was an agreement with them.
The Minister of the Interior of the Kurdistan Regional Government, Reber Ahmed, announced in a surprise statement on Thursday evening that he would visit Baghdad with a high-level delegation on Friday "to finalize an agreement with the federal government to normalize the situation and restore stability in Sinjar district" in Nineveh Governorate. 
Ammar Al-Masoudi

https://alforatnews.com/news/الفرات-نيوز-تكشف-تفاصيل-مهمة-عن-اتفاق-بغداد-وأربيل-بشأن-سنجار

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An independent MP criticizes the current political moves to secure electoral gains

10:04 - 10/09/2020
 
  
%D9%86%D8%AF%D9%89-%D8%B4%D8%A7%D9%83%D8

Information / Private,
Independent MP Nada Shaker criticized the political parties ’moves towards winning over the Iraqi street to secure their gains in the upcoming elections, pointing out that the country needs to create an appropriate and correct environment for elections to take place.
Shaker said to "the information", that "independent representatives in the House of Representatives are unable to make change despite their media movement and the continuous pressure to bring about the desired change."
She added that "the parties are moving today to ensure the voice of the street and obtain their gains during the upcoming elections, and to control the reins of government in the country."
And she indicated that "holding the elections needs a proper and sound environment for holding them, otherwise they will go in the opposite direction, and therefore the Al-Kazemi government is required to prepare for the elections." 25 n

https://www.almaalomah.com/2020/10/09/499089/

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 A local official: the suicide of the director of the Korean company in the port of Faw

  •  Time: 10/09/2020 11:15:47
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A local official: the suicide of the director of the Korean company in the port of Faw
 

photo 2020 10 09 11 16 06

  
(Baghdad: Al Furat News) The mayor of Al-Faw district in the far south of Basra province said that the director of the Korean company (Daewoo) in the large port of Al-Faw committed suicide by hanging yesterday evening, Thursday.

Al-Sharifi said in a press statement that he "does not know the reasons that called the director of the Korean company to commit suicide, while the competent authorities have opened an investigation into the circumstances of the accident, especially that the suicide is of foreign nationality."
 It is noteworthy that this incident comes two days after the Minister of Transport, Nasser Al-Shibli, announced last Tuesday that the first-phase contract for the Faw Grand Port will be signed with the Korean Daewoo company, which will implement the project.
Al-Shibli confirmed the success of the Iraqi negotiating team, which included engineers, technicians, administrators and jurists, in managing negotiations with the Daewoo Company to achieve the highest modern international standards with regard to the work of ports.
Ammar Al-Masoudi

https://alforatnews.com/news/مسؤول-محلي-انتحار-مدير-الشركة-الكورية-في-ميناء-الفاو

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After signing a giant contract ... the suicide of the director of the Korean company implementing the Faw port

 

Friday, October 09, 2020 01:59 PM

 

 

 

The security authorities in Basra Governorate found the body of the director of the Korean company a few days after signing a huge contract in the large port of Al-Faw , where the local authorities had suggested the hypothesis of suicide, after finding him hanged by a wire.

A security source said that the "suicide bomber" named Park Hoba, director of the Korean Daewoo company, was informed of the death of a worker after watching him commented.

For his part, the Office of the High Commissioner for Human Rights in Basra confirmed that the director of the Korean company Daewoo, in charge of building a large Faw port, committed suicide .

The director of the office, Mahdi Al-Tamimi, said in a statement, "The Office of the High Commissioner for Human Rights in Basra is verifying the information that indicated the suicide of the director of the Korean Daewoo Company in charge of building the large Faw port today, called 'Park Tul Huba'."

Al-Tamimi said, "Hoba hanged himself with a wire, and this was discovered by the company's service worker," pointing out that "the Human Rights Office contacted the FAO Commissioner Walid Al-Sharifi, who confirmed the matter."

Al-Tamimi expressed his "regret at the death of the director of the company for the construction project of the great Al-Faw port ," noting that "the Human Rights Office is following up the investigations of the incident with the Basra Provincial Police Directorate and the District Commissioner of Al-Faw."

Walid Al-Sharifi, mayor of Al- Faw district, south of Basra, announced that the director of the Korean company operating in the large Faw port committed suicide by hanging himself yesterday evening.

Al-Sharifi said, "He does not know the reasons that prompted the director of the Korean company to commit suicide, while the competent authorities have opened an investigation into the circumstances of the accident, especially since the suicide is of a foreign nationality."   

Last Tuesday, it was announced that negotiations had been completed with the Korean company by agreeing to proceed with the Faw port project and switch to preparing contracts for contracting.

The General Company for Ports stated in a statement, that "in the presence of the Minister of Transport, the Director General of the General Company for Ports of Iraq, the Director of the Faw Port Project, the Executive Director of Daewoo and the five project managers from the Korean side, the completion of negotiations was announced by an agreement to proceed with the project and switch to preparing contracts for contracting."   

In the past, a contract was signed with the Korean company Daewoo, in the middle of last year, to construct the six projects for the basic infrastructure of the large FAO project .   

The projects include rock reimbursement and roads between the ports of Al-Faw and Umm Qasr, in addition to linking the port with a highway under Khor Al-Zubair to be linked to the main road.   

The cost of constructing the first phase of the Faw Grand Port project is estimated at 4 trillion dinars.   

It should be noted that the eastern breakwater of 8 kilometers and 200 meters in length, which was implemented by the Greek "R Cordon" company, was completed and received, as well as the western breaker of 16 kilometers, which was implemented by the Korean company Daewoo, with which the contract has been signed currently with an amount of 200 billion dinars to implement infrastructure projects. The six, as the first start of the project was the signing of the contract for the implementation of the eastern breaker and commencing with it in 2013.   

It is noteworthy that the project is being implemented in four phases according to need, availability of funds or the desire of investors, and at the present time the focus is on the first phase.   

The Grand Port of Faw is a strategic project that connects the East to Europe via Iraq via Turkey, and specialists expect that it will change the global maritime transport map.   

 

https://www.thebaghdadpost.com/ar/Story/202548/بعد-توقيع-عقد-عملاق-انتحار-مدير-الشركة-الكورية-المنفذة-لميناء-الفاو

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Friday, October 09, 2020 02:35 PM

 

Nassif on the suicide of the director of the Korean company in Faw port: Countries in the region do not want to complete the project

Nassif
 
 

 

On Friday, October 9, 2020, Representative Alia Nassif commented on the suicide of the director of the Korean Daewoo company in the large port of Faw in Basra, while she did not rule out that there was a criminal suspicion. Nassif
said in a statement, "I do not rule out there is a criminal suspicion, and it is not suicide in this matter. Otherwise, there is no need for a Korean person to commit suicide in Baghdad while he works in the largest port that can bring him very big interests. She added that there are many countries in the region that do not want the port of Faw to rise, and I think that there is intentional and semi-criminal in the incident, especially since the port of Faw may lead to damage in the ports in the region, such as Fujairah and the port of Mubarak al-Kuwaiti.

She indicated that the incident is considered a warning to the Iraqi people that the countries of the region do not want Iraq to rise in the port of Faw, pointing to the need for the port to be built with Iraqi arms.
On Friday, a local official in Basra announced that the director of the Korean company had committed suicide in the large Faw port .
 A security source in Basra Governorate revealed, on Friday, October 9, 2020, new details about the suicide of the director of the Korean company operating in the large port of Faw .
The source told the media affiliated with the obelisk that the director of the Korean company Daewoo operating in the large port of Faw , who committed suicide, was named Park Tul Huba, indicating that the suicide was carried out by wire inside the room in which he resides.
The source, who asked not to be named, added that one of the workers informed the competent authorities about the incident, after seeing the company’s manager suspended by wire.
And a security source said earlier on Friday, November 9, 2020, that the director of the Korean company operating in the large port of Faw in Basra Governorate committed suicide by breaking himself.
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