Iraq Economic News and Points to Ponder Late Tuesday Evening 4-9-24
Iraq Economic News and Points to Ponder Late Tuesday Evening 4-9-24
Tlm724 Administrator Bondlady’s Corner
Al-Sudani: Today We Are Moving Towards Economic Construction And Comprehensive Reform
Economy News – Baghdad Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Tuesday, that the National Service Government is moving towards economic construction and comprehensive reform.
Al-Sudani said, in a statement received by “Al-Iqtisad News”: “April of this year will return to us, and Iraq will regain its health and historical civilizational launch, and will enjoy security and stability, proceeding with development and reconstruction.
These are gains that were achieved through a long process of sacrifice, patience, and jihad against tyranny. Our people sacrificed precious lives, and caravans of martyrs were among the finest men and women.”
He added: "The dictatorship fell after it delved into injustice and plunged the country into bloody wars and conflicts, causing isolation and hostility and sowing hatred in the region. Our people reaped death, destitution, backwardness and disease, and lost on the path to freedom an elite group of martyrs of the Islamic and national movement, whom we remember in this regard."
Especially today, on the anniversary of his ascension as a martyr, Grand Ayatollah Sayyed Muhammad Baqir al-Sadr, whose execution represented a disgrace to the black Baathist regime.”
The Prime Minister continued: “Our people chose their own fate after the fall of the regime, through persistence and determination, which created a bright picture for their future, resisted terrorism, wrote their permanent constitution, and elected their parliamentary representation and national governments.
Then the forces of evil returned to appear in the guise of the mythical ISIS, and the Iraqis pulled together their ranks once again.” They showed a commitment to the land and life that was rarely matched.”
He stated: “The journey of the past twenty-one years has been the best document of the cohesion of Iraqis and the confirmation of common living for all fraternal sects, and today, we are moving together, under the National Service Government, towards an advanced stage of economic construction, comprehensive reform, social and civil service, and consolidating Rights and stability are on the rise, expressing a vision developed by our government’s program, in light of the needs of citizens, their aspirations and their wishes for their country.” Views 37 04/09/2024 - https://economy-news.net/content.php?id=42331
Al-Araji: The Prime Minister's Visit To Washington Will Establish A New Era In Relations Between The Two Countries
Tuesday 09, April 2024 14:39 | Political Number of readings: 96 Baghdad / NINA / National Security Advisor Qasim Al-Araji confirmed that the visit of Prime Minister Muhammad Shia Al-Sudani to Washington will establish a new era of relations between the two countries.
The National Security Advisory stated in a statement: “Al-Araji met in his office today with the US Ambassador to Baghdad, Alina Romanowski, and the two sides discussed the latest developments in the political and security situation at the regional and international levels, and the prospects for cooperation and partnership between Iraq and the United States of America.”
During the meeting, the two sides discussed issues and files of common interest, including the Al-Hawl camp file and continued cooperation in the field of combating terrorism.
During the meeting, Al-Araji expressed his optimism about the upcoming visit of Prime Minister Muhammad Shiaa Al-Sudani to Washington, noting that the visit will establish a new era in relations between the two countries.
He pointed out that the strategic framework agreement between Iraq and the United States of America is important and comprehensive and does not concern only the security aspect, but rather includes all fields, stressing the importance of countries withdrawing their nationals from Al-Hawl camp and drying up the human, financial and media sources of terrorism.
For her part, the American Ambassador confirmed that the Prime Minister’s visit to Washington is very important and that the two countries are moving towards the bilateral security agreement, and that the committees of the two countries are continuing meetings regarding the international coalition’s mission. https://ninanews.com/Website/News/Details?key=1120309
Financial Advisor: Government Measures Put Iraq At The Forefront Of Countries In Foreign Investment
Local | 11:04 - 04/09/2024 Mawazine News – Baghdad Today, Tuesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed government measures that put Iraq at the forefront of countries with foreign investment, while noting that the development path and the Al-Faw port have strengthened the government’s vision in encouraging foreign investments.
Saleh said in a statement seen by Mawazine News: “The Iraqi economy is characterized by two basic features that help give it preference in foreign investment.
First, cash flows in foreign currency are reflected in the current account of the balance of payments relative to the gross domestic product, which is estimated by international economic and national centers at a surplus estimated at approximately ( Positive 7%) Iraq also ranks second in OPEC oil production and fifth in the world in that production.”
He added: “As for the second advantage, there is a wide range of available investment opportunities provided by transportation, digital communications, housing and construction activities, and it ends with encouraging partnership between the state and the private sector in the manufacturing industry and various technological fields, the latest of which was the Cabinet’s adoption of the facilitating instructions in its last meeting that encourages the existing partnership between...
The state and the private sector, which is based on the principle of mutual win-win and is an attractive signal for foreign direct investment,” pointing out that “the investment law frames the provision of an attractive investment environment for investors, especially the economic surplus trends of the countries of the region and their orientation towards profitable investments in Iraq in the industrial, agricultural and other fields, which...
It gives a positive signal to international investment in general to be attracted to Iraq and investigate promising opportunities there.”
He stressed that “the Development Road Project, as a development strategy that adopts the idea of development-leading projects, constituted the central call for international companies to participate, starting from the port of Al-Faw and ending with the Turkish border, for economic connection with Europe, which... This means that the state's economic vision is based on encouraging direct foreign investments in development activity in Iraq, whose natural resources are abundant in the ground.
He explained, “Iraq is ranked ninth in the world in terms of natural resources in the ground, and ranked first in reserves per square kilometer of investable natural resources such as (phosphate, sulfur, and other important reserves).
A study conducted by the FDI Intelligence website, which specializes in foreign direct investment affairs, stated that “Iraq was ranked fourth among ten countries in the latest classification, and this classification was evaluated based on several criteria, including growth in gross domestic product, the inflation rate, growth in capital spending in foreign direct investment, and the growth rate in foreign direct investment projects.”
The study indicated that “the growth rate of Iraq’s gross domestic product reached 2.9%, while the inflation rate reached 3.6%, and the growth rate in capital spending in foreign direct investment witnessed an increase of 371%, and the growth rate in foreign direct investment projects reached 95 percent.” %”, indicating that “these numbers reflect the noticeable improvement in the investment climate in Iraq and the efforts made to strengthen the economic sector and attract more foreign direct investments.”
https://www.mawazin.net/Details.aspx?jimare=245572
Sudanese Issues Several Directives To Stimulate The Activity Of The Private Banking Sector
Economy | 04/09/2024 Mawazine News – Baghdad A government source revealed, today, Tuesday, that Prime Minister Muhammad Shiaa Al-Sudani issued a set of measures and steps to revitalize the private banking sector, while directing a study of the possibility of strengthening the needs of private bank branches abroad in foreign currency.
The source told the official agency, followed by Mawazine News: “As part of the Iraqi government’s efforts to formulate a strategy that stimulates the activity of the private banking sector during the next stage, allowing it to engage more in efforts to diversify the economy and strengthen its foundations, Prime Minister Muhammad Shiaa Al-Sudani directed the adoption of a set of measures and steps.” In this regard, including: -
1 - The Ministerial Council for the Economy studies the proposal to increase deposits of government institutions and the central government with private banks, enabling them to provide more banking operations and contribute to the development of various vital sectors and increase their ability to provide various financing services inside and outside Iraq.
2- The support of the Iraqi government and the Central Bank of Iraq to private Iraqi banks through foreign institutions and banks, taking into account the credit rating of each bank.
3- Studying the possibility of strengthening the needs of private bank branches abroad in foreign currency for the purposes of financing foreign trade - the private sector and in accordance with the applicable contexts.
4- The Board of Directors of the Central Bank of Iraq determines the contribution of foreign capital to Iraqi banks and evaluates the reality of the situation in a way that benefits the Iraqi economy and in accordance with what is stated in Banking Law No. 94 of 2004.
5- Participation of representatives of the private banking sector when discussing relevant issues in all state institutions. Including meetings of the Board of Directors of the Central Bank of Iraq.
6- Studying the reactivation of the financing initiative presented by the Central Bank of Iraq and in accordance with the contexts proposed by the Central Bank in this regard.
7- The Competition Affairs and Monopoly Prevention Council shall take the necessary measures under Law No. 14 of 2010 to prevent monopoly in banking services, provided that the Council shall submit reports to the Central Bank of Iraq and in coordination with it periodically and in accordance with the aforementioned law. https://www.mawazin.net/Details.aspx?jimare=245580
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Provoking Points To Ponder On Failures and Mistakes
I try to extract something positive from [every] situation, even if it's just learning not to make the same mistake twice.- Claudia Schiffer
He who is shipwrecked twice is foolish to blame the sea.- Publilius Syrus
He who is shipwrecked the second time cannot lay the blame on Neptune.- English proverb
He that's cheated twice by the same man is an accomplice with the cheater.- Thomas Fuller
If you would not have affliction visit you twice, listen at once to what it teaches.- James Burgh
You can beat the Bear once, but never the same way twice.- John McKay
Any man can make mistakes, but only an idiot persists in his error.- Cicero
http://famousquotesandauthors.com/topics/failures_and_mistakes_quotes.html