Zuhair al-Hassani: payment on credit guarantor in reducing corruption and speed up development

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Zuhair al-Hassani: payment on credit guarantor in reducing corruption and speed up development Empty Zuhair al-Hassani: payment on credit guarantor in reducing corruption and speed up development

Post  Admin on Sun Apr 07, 2013 9:41 pm




08/04/2013 12:31 am

Iraq succeed to the implementation of housing projects on the way
BAGHDAD - morning

The adviser said the National Investment Commission: that Iraq desperately need today to the enactment of the infrastructure to finance state projects through payment on credit not to the inability of the state to save money, but the problem lies in the management of money, which is seen to the budget and the size of the Incredible that Iraq Bjajh to funds.

He explained the economic expert adviser GAI. Zuhair al-Hassani in his intervention in the workshop Find reasons behind the decline of reconstruction in Iraq, organized by the Iraqi Institute for Economic Reform that he was introducing a law payment on credit in 2009 run afoul stiff opposition at the time, but with the passage of days and approve all failure all attempts to activate the reconstruction was needed again for such a law.

And on the question »Sabah» desire for international companies to invest in Iraq, he said: that desire is plentiful but safety only reason is that the investment environment repellent, and standard of this assessment to companies based on that most Iraqi capital invested outside the country making it an indicator of the concerns of foreign investment come to Iraq.

Hassani wondered about how to manage the $ 37 billion allocated by the state to invest in the event succeeded in passing a law infrastructure, pointing out that the state's inability to manage money for several reasons, including corruption and loss of efficiency in the implementation of projects as well as political conflicts However the lack of investment climate and expatriate Iraqi capital and this paradox led to the search for successful alternative to speed up investment and construction project was the option payment on credit.

He noted that the payment on credit is quite different from foreign lending and problem loan he contracted linked a time lead the state in which the loan and the benefits of it and what was Iraq not need financial resources but needs to be managed, then it is different here in the method of payment on credit for loan where companies will their offers for investment check her property is located on the staid companies are contracted and payment will be made after the implementation and completion of projects that generate income.

And the advantages of the present law between Hassani that in this way we eliminate corruption fully and then we get sober projects seeking large corporations to maintain its international reputation through the completion of these projects global specifications, in addition to the speed and accuracy of the completion of these projects and thus ensure sustainable development.

Hassani pointed to the success of some of the experiences in Iraq by this method, citing the successful National Commission for Investment in projects بسماية and housing projects in Karbala and Dabbash and project Rasheed Camp residential giant by bypassing the investment law and the use of government to support this trend that we will see results soon on the ground, pointing to the success of the experience of the province of Najaf in this area also.

The Hassani has touched on these topics in his speech, which ended with his support for the proposal to form the Council for Reconstruction after the failure we suffered during the period of ten years from the fall of the regime in the field of reconstruction, stressing the importance study proposed carefully and display for discussion extensive and in all economic forums and official.

And concluded by saying in the case of approving the formation of Council proposed for the reconstruction of the specifications and the broad powers and rely on technical competencies and Alachtsat the migratory capital will see an accelerated return to invest here in Iraq and would compete with international companies and thus take any true direction of sustainable development.


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