375 billion dollars of investment allocations in Iraq

4/2/2014 0:00

Conference on Iraq and the Kurdistan Investment recommends providing long-term financing
Erbil - Baghdad - Follow-up - Hussein al-Tamimi Tgb
Conference recommended that Iraq and the Kurdistan Investment trying to overcome all the obstacles that limit the activation of investment business in Iraq , and interest in providing long-term financing that you need industrial and agricultural sectors .
The recommendations also included a call for banks to support large-scale projects , and increase the number of years of tax exemption for 15 years , as well as facilitating the entry of investors to speed up , and support the work of single window system and the courts of the investment . Promising market


This came during the investment conference , which was held in the city of Irbil in the presence of delegations of Arab Chambers of Commerce , the Iraqi and international companies and local , where Deputy Prime Minister and Chairman of the Economic Commission Ruz Nuri Shaways his word inaugural importance of the conference , which regulates the participation of regional and international wide, and the presence of all the parties concerned with investment from across the provinces , indicating that the country represents a promising market for investment in the light of the conditions for building a strong economy solid , stems from the growing of the country 's fiscal revenue through higher oil exports steadily .


375 billion dollars


He noted that the data Development Plan 2013 - 2017 indicate rising oil exports to 6 million barrels by 2017 , which would amount to fiscal revenue 677 billion dollar estimate of $ 85 per barrel of oil , noting that the size of the investment allocations purring along 375 billion dollars , pointing to the importance that the topping sectors of industry, energy, agriculture, implementation of productive projects , especially as the goals of the plan is moving to diversify its fiscal revenue . In turn touched governor of Erbil Nawzad Hadi to the experience of investment in the region that have achieved great success as it was based on a base sober was to provide the legislative environment attractive , confirming the continued flow of capital from regional countries and the world, where they exceeded foreign investment exceeded 30 billion dollars , pointing out the experience of the region can be employed in all the cities of Iraq to bring global investment firms and owned by sophisticated technology and capital employed to serve the production and service sectors .


The success of projects


The President of the Federation of Chambers of Commerce , Industry and Agriculture of Arab Adnan Kassar said that the conference represents the importance of the investment business in Iraq and the availability of employment opportunities in all sectors as well as provide elements of successful project implementation . , And pointed out that the gathering Arab businessmen and Arab Chambers of Commerce , along with investment bodies of Iraqi and chambers of commerce represents a valuable opportunity to see up close the Five Year Development Plan , which aims to put Iraq in refineries developed countries , also represents an opportunity to see what is being allocated amounts large investment in all the provinces . between the Arab and international companies began emanating from Kurdistan , which represents an oasis important investment to all the cities of Iraq . He called on all participants in the conference to contribute to the investment of available job opportunities in all provinces through the presence of real implementation of strategic projects to help rebuild Iraq economically , adding that the Lebanese investors first entered Iraq after 2003 and the implementation of projects in most sectors , as well as work on the opening of branches of banks inside Iraq .


The private sector


Federation of Iraqi Chambers of Commerce the idea of ​​organizing the conference and one of the sponsors was his prominent role in the importance of working to achieve economic development in all sectors and the boss said Jaafar al-Hamdani, in an interview for the "morning" that the country has the potential to move to a free market economy , pointing out that after the phase change had the opportunity for the private sector to fill the role in the process of real economic development has helped the legislation investment Act of 2006 , as amended.
He pointed out that the investment environment of the ingredients of success investment and private sector-led and are available in the country and the most important of the large reserves of oil and gas , and the elements of the promotion of agricultural production that achieves food security , as well as the tourism sector , which starts from Kurdistan and down to the south of Iraq , as well as owned Western Sahara natural resources and a large variety .


Investment Law


He praised al-Hamdani, the recent amendments to the investment law, which ruled ownership scheme, the investor of the land which is implemented by the project in the housing sector , pointing to the pursuit of the Union to protect the local private sector and achieve a partnership with the international private sector and access to positive results highlight the real capabilities of the Iraqi private sector in the implementation of projects and the provision of services .
Chairman of the National Investment Commission d . Sami al-Araji, said that the experience of the investment business started virtually in the country after 2003 and the direction of the country constitutionally to an open market economy , noting that the body responsible for strategic planning for investment and provide spammers the right to work for him, and commensurate with the reconstruction of Iraq in the five-year plan and the plans ahead.
He pointed to the availability of investment opportunities in 10 sectors including oil and gas , industry and agriculture as well as electricity , tourism, education , health and other sectors .
Where the need for petrochemical industry projects and doubling of electricity production and invest more than seven million acres in the agriculture and transport networks across regions as well as the tourism sector is owned and opportunities for investment .


Cooperation agreements


As a member of the Board of the Chamber of Commerce of Baghdad, Alaa Al-Nouri spoke of the "morning " , describing the conference as significant qualitative and being worked on collecting most of the representatives of the private sector in the Arab region and foreign companies in one place and signed cooperation agreements in principle check the economic feasibility of all parties .


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