"Tidbits From TNT" Sunday Morning 6-25-2023

Jun 25

TNT:

Tishwash: Al-Adl: Tomorrow the budget law will be published in the Iraqi Gazette

On Sunday, the Ministry of Justice announced the publication of the budget law in the Iraqi Gazette tomorrow.

Ministry spokesman Kamel Amin said in a statement to the official agency, followed by "NAS" (June 25, 2023), that "the budget from 2023 to 2025 will be published tomorrow in the Iraqi Al-Waqa'i newspaper."

He added, "The budget will enter into force as of January 1, 2023." link

CandyKisses: Completion of the designs of 15 residential cities in Baghdad and the provinces

Economy News _ Baghdad

In a step that is the first of its kind in decades, the Iraqi government has offered investment opportunities for five new residential cities, which is the first step towards solving the problem of the housing crisis and the high real estate prices witnessed by Baghdad and the provinces, while seeking, within its ministerial curriculum, to establish and distribute a number of cities in Baghdad and the provinces, within specifications that take into account the provision of full services and ensure urban sustainability.

The Ministry of Construction and Housing has begun providing 100,500 housing units and distributing <>,<> plots of land, while a standard has been set for differentiation between investors to ensure transparency.

Ministry spokesman Istabraq Sabah said in an interview with the newspaper "Al-Sabah" followed by "Economy News", that "in compliance with the government program, the Ministry of Reconstruction began to complete the basic designs for 15 residential cities distributed between Baghdad and the provinces," adding that "the basic designs have been completed, which will provide in the first phase 100 thousand housing units, and will distribute 500 thousand plots of land serviced by water, sewage, electricity and sidewalks."

"A number of municipalities have been established in Baghdad and the provinces, and the transfer of ownership of new cities whose designs have been completed under the unit ownership law has been completed, and five cities have been declared as a first stage investment opportunities and the necessary technical requirements have been prepared," he said.

He noted that "a standard has been developed for trade-off between investors to ensure transparency, and cities are integrated services, with the use of urban land and the achievement of sustainable water quality," stressing that "the middle, poor and vulnerable segments will be targeted to develop the housing sector and reduce the gap in prices."

For decades, cities have been expanding in all directions, with slow service delivery, leading to constant pressure on infrastructure.

For his part, the Dean of the Urban and Regional Planning Center, Karim Hassan Alwan, warned of the need to establish new cities after the increase in population, provided that the conditions for sustainability are met in the new cities.

"The establishment of new cities is a necessary project that the country needs after the significant increase in population," Alwan said, adding that "housing units must be sustainable and include new projects, especially if they are part of the state's policy of providing services and not just distributing land."

He added that "this project has been delayed for a long time, and we need almost two million housing units to solve the housing crisis," and called for "enabling citizens to obtain housing units at reasonable and economical prices

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Tishwash: Iraq is moving towards achieving economic and development goals

Specialists in economic affairs have praised the economic moves undertaken by the government, especially at the international level, stressing the importance of the foreign and domestic visits of Prime Minister Mohamed Shia al-Sudani during the current June, which resulted in the signing of dozens of agreements with Egypt and Qatar.

Indicating that this can achieve many positive packages, including the establishment of joint development projects with neighboring countries and the region in conjunction with the implementation of the government program, as well as attracting dozens of investment companies to work in various fields, indicating at the same time the importance of these meetings in reflecting a positive image of the country, which That would attract capital and international companies.

This June witnessed economic movements that were welcomed by many economists, who described it as a "developmental transition". Between a foreign visit conducted by Prime Minister Muhammad Shia' al-Sudani to the Arab Republic of Egypt, during which he concluded 11 agreements, Baghdad received the Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani, where he sponsored During that visit, Al-Sudani issued decrees for signing agreements for comprehensive cooperation in the political, economic, energy and investment fields, as well as two agreements in the fields of maritime air transport, a memorandum of cooperation to establish a joint oil company and another for the establishment of a refinery.

In addition to the mutual government visits, Baghdad also witnessed during June a celebration on the occasion of the 63rd anniversary of the convening of the founding conference of OPEC, and witnessed a wide international official presence, while Dar al-Salam received, in the middle of this month, a delegation of the Iraqi-American Business Council, and the Prime Minister confirmed during The meeting The government took a series of decisions to simplify procedures for investors, and work to address existing problems in this field.

The international economic visits undertaken by Iraq, according to the economist and member of the Private Sector Development Council at the Ministry of Planning, Dr. Ali Hadi Joudeh, during his interview with Al-Sabah, are of great importance in drawing a positive picture of the steps that Iraq seeks to achieve in various aspects of development. In addition to the fact that it represents "a return and a positive impact on various economic levels, especially since Iraq is still a virgin land with its natural resources, human capabilities, and enormous financial and logistical capabilities. These visits can contribute to their real exploitation to transform the country into a regional and international economic power."

Hadi shows that the international openness to Iraq can be used to establish major projects in various fields, and perhaps the strategic development road project will be the first initiative that will lead to bringing in various initiatives and pumping hot money from abroad that works to open horizons for development and economic diversification in revenue and stimulate the production function. And give them a competitive advantage, especially if there are common policies between these countries and Iraq to create industrial cities and free trade zones, so the national industries will be open to foreign markets.

Despite the government's broad economic moves, however, expert Hadi believes that there is an urgent need for legislative requirements, urgent decisions, and soft laws that serve as stimulus packages to undermine bureaucracy and launch as quickly as possible to target these opportunities and employ them in developing the local business environment, considering the current laws as "an obstacle that represents implementation gap.

The researcher on the Iraqi and international economy, Dr. Ali Dadush, did not stray far from the previous opinion, when he indicated to "Al-Sabah" that Iraq "is seeking a leadership role in the region and moving forward in implementing joint development programs and projects with neighboring countries in conjunction with the implementation of the government program." within specified time plans.

Dadoush pointed out that "Iraq, through (agreements and memorandums of understanding), seeks to create a positive atmosphere with regional and international countries, which could lead to attracting media companies to work in Iraq," pointing out that "the Arab Gulf countries own a group of local companies or Foreign joint ventures with a high-quality technological level and for various fields (energy, water, transportation, infrastructure, superstructures, and other services), which can be attracted to work in Iraq through increasing international meetings, conferences, and agreements. duality".

Researcher Dadoush believes that the priority of these visits and economic conferences should be to develop the industrial sector

(Manufacturing and petrochemical industries) because of their front and back entanglements with the rest of the other economic sectors, stressing at the same time the importance of the (real) private sector and local investors entering with government delegations and creating a mechanism for twinning with the private sector in neighboring countries, which is reflected in more ways It is good for the realities of the local economy. link

Mot: .... What a Night!!! ~~~~~