Wednesday "Vietnamese News" Posted by Henig at KTFA 2-15-2023

KTFA: Vietnam

Henig:  E-commerce market achieves major breakthrough

06:00 | 15/02/2023

(VEN) - The value of Vietnam's e-commerce market is expected to reach US$40 billion by 2027, representing growth of 28 percent - the highest expansion rate in Southeast Asia, according to the conclusion of Meta and Bain & Company's annual SYNC Southeast Asia study on the digital economy and the future of e-commerce in the region.

Double-digit growth

Vietnam’s e-commerce market is predicted to record 28 percent growth, the highest rate among Southeast Asian nations, and reach US$40 billion by 2027. The average contribution of e-commerce to total retail has continued to increase at 15 percent, accounting for six percent of Vietnam’s total retail value.

Khoi Le, Meta's Vietnam Country Director, said Southeast Asia's e-commerce market has many opportunities in terms of userbase. Vietnam recorded an increase of four million digital consumers in 2022. Eight out of ten individuals of working age are digital consumers. This means there are 60 million active digital consumers in Vietnam.

According to the White Book on Vietnamese E-Business 2022 released by the Ministry of Industry and Trade’s Vietnam e-Commerce and Digital Economy Agency, the size of Vietnam's e-commerce retail sector was expected to increase by 20 percent in 2022, reaching approximately US$16.4 billion. In addition, it is anticipated that between 57 and 60 million Vietnamese engage in online shopping, spending US$260-285 per capita.

This outcome is a result of Vietnam's utilization of the e-commerce development trend and the completion of a progressive regulatory framework governing online buying activities. Since the issuance of Government Decree 52/2013/ND-CP on e-commerce, revenues from retail e-commerce have climbed from US$2.2 billion in 2013 to US$16.4 billion in 2022.

Completing the payment system

According to the Vietnam e-Commerce and Digital Economy Agency, e-commerce promotes the growth of electronic payments because 90 percent of goods and products purchased on e-commerce floors are paid for online using bank cards. Despite the pandemic, internet and mobile phone transactions in Vietnam increased by 238 percent.

In its forecast for Vietnam's e-commerce business, the professional team of e-commerce portal iPrice emphasized the relevance of e-commerce in the future. In addition, the iPrice expert team identified several major trends. These include tailoring the shopper experience as consumers become increasingly reliant on e-commerce companies to help them find the things they need while also streamlining the supply chain to reduce delivery time and improve product quality.

The second trend is the development of cashless transactions. According to a survey by Facebook and Bain & Company, the rate of cash payments (Cash on Delivery) in Vietnam declined from 60 percent in 2020 to 42 percent in 2021, while e-wallet usage increased by up to 82 percent, compared to an 18 percent rise in bank transfers.

Implementing the 2021-2025 National E-commerce Development Master Plan, Vietnam's industry and trade sector will continue to collaborate with banks to develop e-commerce in the next years, creating favorable conditions for e-commerce platforms.

Specifically, the Ministry of Industry and Trade will continue to improve the legal framework; promulgate policies, regulations, and implement comprehensive solutions to increase the rate of e-payment on mobile platforms and reduce the use of cash; develop infrastructure and solutions to support electronic transactions and integrate payments in e-commerce; and concentrate on the development of payment utilities on mobile platforms.

To create more favorable conditions for e-commerce, the ministry will continue to improve the legal framework and issue policies to increase the rate of electronic payments; provide infrastructure and solutions to support electronic transactions; and develop payment facilities such as e-wallets, QR code, NFC, and POS.

According to the Vietnam e-Commerce and Digital Economy Agency, as a result of increased coordination between state management agencies, Vietnam's e-commerce market will become increasingly comprehensive and transactionally secure. This development will foster consumer confidence in Vietnam, creating major breakthroughs in e-commerce between 2023 and 2025.

Viet Anh   LINK

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Henig:  Quang Binh: A land of endless mystery

13:00 | 14/02/2023

(VEN) - Tourism in Quang Binh, a coastal province in North-Central Vietnam, has gained international recognition due to the locality's reputation as the "Kingdom of Caves", its unique geological features and the enigmatic tales of its history and myths.

The Phong Nha-Ke Bang National Park in Quang Binh boasts thousands of caves within its 1,233 square kilometer boundaries, earning it the moniker "Kingdom of Caves". Over the past 30 years, the British Caving Association has investigated 400 caves and made stunning discoveries, giving rise to the description of the area’s “endless mystery”. 

 “Good Morning America from Son Doong”, an ABC Television program, was broadcast live in 2015 from En Cave in the presence of Deputy Prime Minister Vu Duc Dam, attracting 60 million viewers worldwide and spreading its reputation far and wide.

Since then, major media agencies from across the world have visited Quang Binh. The province subsequently teamed up with Legendary Pictures to produce “Kong: Skull Island”, a VND7 trillion investment with global impact. Quang Binh was also ranked eighth among 52 most enticing Asian locations by the New York Times Magazine. "The New York Times Travel Show has provided the province of Quang Binh a free booth in New York," says Nguyen Ngoc Quy, Director of the Quang Binh Department of Tourism. Other activities that have piqued broad interest include the Miss World Peace contest, which brought representatives of 80 countries to this "mysterious" land in September, and Alan Walker's "Alone Pt.2" music video, which has received hundreds of millions of views and is expected to reach nearly one billion views.

According to Nguyen Ngoc Quy, the BBC’s Landmark Natural History Series has filmed in Quang Binh and will reach an estimated 800 million people. A global Google Doodle celebration of Son Doong cave on April 14, 2022 was coordinated by Google Arts & Culture in 17 different countries and territories. “If you Google ‘Phong Nha’ or ‘Son Doong’ and click, you get detailed tourism information about the area. Our heritage is celebrated in 17 nations, " Nguyen Ngoc Quy remarked.

Architect Tran Ngoc Chinh, former Deputy Minister of Construction and President of the Vietnam Urban Development Planning Association, describes Quang Binh Province as a secure, alluring, and one-of-a-kind tourist destination. Quang Binh is a location with multiple opportunities and advantages for tourism development, a territory with historic traditions and valuable geological qualities. Phong Nha-Ke Bang cave, a twice-recognized UNESCO world natural heritage site, and Son Doong Cave have attracted a large number of businesses and tourists from all over the world.

In terms of natural resources for tourism development, Quang Binh is regarded as a leading locality nationwide. According to a recent survey of travelers performed by Booking.com, Quang Binh is one of the Vietnamese localities with the highest tourism competitiveness ranking.

UNESCO recognized Phong Nha Cave a World Natural Heritage site in 2003 and again in 2015, contributing further to Quang Binh's tourism economy.

Xuan Hoai   LINK

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Henig:  More Vietnamese farm products exported to Europe

11:30 | 15/02/2023

The central province of Quang Tri shipped its first batch of 15 tons of organic rice at a price of US$1,800 per ton to the European Union (EU) on February 13.

In the coming time, between 30 and 50 tons of this type of rice will be shipped to the European market every month.

The Ministry of Agriculture and Rural Development announced that the nation exported nearly 7.3 million tons of rice last year, earning US$3.54 billion, up 6.9 percent.

Viet Nam still has many opportunities to increase the export of agricultural products, including fruits and vegetables, to the EU as it is the only country in the Asia Pacific region that has a free trade agreement with the EU.

After the European-Viet Nam Free Trade Agreement (EVFTA) came into effect, the tax rate for many kinds of Vietnamese fruit and vegetables was reduced from 10-20 percent to zero.

The country has exported many kinds of fruits to the EU, including dragon fruit, passion fruit, coconut, durian, longan, lychee, mangosteen, and seedless lemon.

Earlier, the first batch of 11 tons of Dien pomelo from the Yen Thuy district was transported to the United Kingdom on February 9 by Longdan, the largest importer of Vietnamese products in this country.

Viet Nam has emerged as a major Southeast Asian supplier of farm produce and aquaculture products to the UK since the UK-Viet Nam Free Trade Agreement (UKVFTA) came into force on May 1, 2021.

As part of the UKVFTA, some 85.6 percent of tariff lines for goods imported by the UK from Viet Nam were eliminated in January 2021, and 99.2 percent will be removed by January 2027, according to the UK Department for International Trade.

The UK imports from Viet Nam amounted to US$6.06 billion last year, rising by 5.2 percent over 2021, reported the General Department of Viet Nam Customs.

Source: VGP    LINK

Henig:  More expressways to be built in the north central & central coastal region by 2025

08:00 | 15/02/2023

The Ministry of Transport has set a target of completing and putting into operation the eastern North-South expressway by 2025, bringing the total length of highways in the north central-central coastal region from 193km to 1,390 km, said Transport Minister Nguyễn Văn Thắng.

The ministry will also complete coastal roads.

According to Thắng, in the period of 2005-20, capital from the central and local budgets, and other sources to invest in transport infrastructure in the region reached about VNĐ246 trillion (US$10.5 billion).

As a result, the region's transport infrastructure system has changed markedly with many important works being built and put into operation.

In terms of roads, the Hồ Chí Minh Highway was put into operation while National Highway 1 was expanded and two projects of upgrading sections of La Sơn-Hoà Liên and Đà Nẵng-Quảng Ngãi on the North-South Expressway with a total length of 193km were carried out.

Regarding railways, 1,462 km of existing railways were upgraded to ensure connection of all localities in the region.

Meanwhile, in terms of maritime, the ministry invested into building nine first class seaports, four second class seaports and one third class seaport. Inland waterways are exploiting 11 routes with a total length of 670km, including the coastal waterway.

Regarding aviation, this is the region with the largest density of airports in the country, with five international airports and four domestic ones.

Along with the achieved results, the region's transport infrastructure system still has some shortcomings and inadequacies which have not met development needs.

The intra- and inter-regional transport infrastructure connecting the horizontal axis in the East-West direction is still limited. Railway connection with seaports has not been effective and some seaports and airports have not been exploited effectively, making it unable to promote its role as a hub for trans-shipment and transit of goods for the Tây Nguyên (Central Highlands) region and the Associate of South-East Asian Nations (ASEAN).

The main reason is the lack of linkages and synchronous planning, and investment plans for infrastructure development among localities in the region still lack in synchronisation do not pay attention to intra- and inter-regional connectivity.

In addition, investment resources have not met requirements, there are not yet strong enough mechanisms and policies to mobilise transport infrastructure investment, and the system of institutions and policies is still inadequate.

Thoroughly grasping the viewpoints and goals of the 13th Party Congress and Resolution No.26-NQ/TW with the goal that by 2030, the north central - central coastal region will reach a synchronous and modern socio-economic infrastructure, the Ministry of Transport will continue to closely coordinate with ministries, branches and localities to focus all resources on developing the region's transport infrastructure, Thắng said.

The ministry determines to complete and put into operation the eastern North-South expressway by 2025, increasing the total length of highways in the region from 193km to 1,390 km as well as complete coastal roads and renovate and upgrade existing national highways in the medium-term public investment portfolio.

By 2030, the sector will complete the horizontal axis expressways with large traffic such as Vinh - Thanh Thủy, Khánh Hoà Buôn Ma Thuột, call for investment in expressways of Cam Lộ - Lao Bảo, Đà Nẵng - Thạch Mỹ - Ngọc Hồi - Bờ Y and Quy Nhơn - Pleiku, and upgrade key national highways connecting East and West, especially those connecting with major seaports.

The current North-South railway will be further upgraded, along with preparations for investment to start the priority sections of the North-South high-speed railway, a railway connecting the region with Tây Nguyên region and international border gates of Vũng Áng - Mụ Gia and Mỹ Thụy - Lao Bảo, and the restoration of the tourism railway line of Tháp Chàm - Đà Lạt.

The ministry will focus on improving the efficiency of coastal waterway transport corridors and waterways connecting to seaports as well as building new airports at Phan Thiết and Quảng Trị and develop national, regional and international-standard logistics systems connecting with seaports, airports, international border gates and key economic corridors.

Source: VNS   LINK

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Henig:  Taking advantage of opportunities, promoting agricultural exports

08:00 | 15/02/2023

China’s reopening of border gates since January 8 to boost the trade of goods, including the trading of agricultural products, is good news for Vietnamese agricultural exporters. However, opportunities also go with challenges if businesses wish to effectively exploit this vast market.

To Ngoc Son, Deputy Director of the Asia-Africa Market Department (the Ministry of Industry and Trade), said that China is the leading important market and the number one trading partner of Vietnam. Import-export turnover between Vietnam and China reached 175.5 billion USD in 2022, accounting for 24% of Vietnam’s total import-export revenue.

Regarding the agricultural sector, China is the largest export market of Vietnamese vegetables and fruits (accounting for 53.7% of the total), cassava and cassava products (91.47%), and rubber (71%). China is also the third largest export market of Vietnamese seafood (after the US and Japan).

The leading important market

The China Customs has so far granted 2,492 product codes to enterprises producing and processing agricultural products in Vietnam, more than 2,000 codes for growing areas and 1,438 codes for packing establishments for agricultural products for export to the Chinese market. China has opened its border on January 8, 2023, after a period of limited trade due to the COVID-19 pandemic, so agricultural export activities between the two countries have become more active.

According to Lao Cai Border Gate Management Board, the total import and export value through Lao Cai Border Gate reached nearly 82 million USD in January 2023. As many as 6,713 vehicles carrying agricultural products were handled through the Kim Thanh II International Border Gate in January 2023, with a total import and export value of nearly 59 million USD.

Exports are mainly fresh agricultural products such as dragon fruit, banana, watermelon, rambutan, and jackfruit. In January 2023, nearly 600 trucks of dragon fruit were brought to Lao Cai for export to China. More than 800 trucks of agricultural products are cleared in Lang Son Province every day.

Deputy Director of Plant Protection Department, Huynh Tan Dat said that the positive export signals from the beginning of this year were partly due to the phytosanitary protocols signed between the two countries regarding agricultural products, including: banana, durian, mangosteen, black jelly, rice bran and rice. The Department is negotiating with the Chinese side to sign a protocol on the official export of some traditional fresh fruits such as watermelon, dragon fruit, mango, jackfruit, longan, lychee, and rambutan. The two countries are also negotiating techniques for the official export of medicinal herbs, pomelos, some citrus fruits, and coconuts.

Focusing on exploiting key products

Deputy General Director of Dong Giao Foodstuff Export Joint Stock Company (DOVECO) Pham Ngoc Thanh said that the company’s export of agricultural products to the Chinese market in 2022 posted a growth rate of 130% compared to 2021 thanks to a focus on key products such as: fresh passion fruit, processed passion fruit, passion fruit juice, and banana products. In addition to fresh fruits, DOVECO is also focusing on deep processing to improve the added value of products.

Pham Ngoc Thanh said that it is very important to promote, advertise and introduce products to Chinese partners, including the active participation in trade fairs in China to promote the export of vegetables and fruits to the market. It is the fastest way for Chinese consumers to access Vietnamese agricultural products. As such, DOVECO wishes the authorities to continue to create conditions for Vietnamese businesses to participate in product and trade promotion programmes in the future.

Dr. Tra My, President of the provisional Vietnam Business Association in China, emphasised that enterprises need to pay attention to product quality and have a branding plan for agricultural products which have great effect on the selling price of products. Enterprises should also focus on exporting via sea thanks to many advantages over focusing on road transport at present.

For the promotion of products, the provisional Vietnam Business Association in China has invested in establishing a Vietnamese booth in China, helping businesses display preliminarily processed and finished products for free. In the coming time, the provisional Vietnamese Business Association in China will coordinate with other agencies to organise the first Vietnam-Shanghai investment and trade forum, scheduled for April 2023, focusing on the export of Vietnamese agricultural products to China.

Deputy Minister of Agriculture and Rural Development Tran Thanh Nam said that China’s reopening of the border from January 8, 2023 is good news for businesses of the two countries, but without improvements to the quality and product design and cost reduction, Vietnamese enterprises will still face many challenges.

Therefore, enterprises need to strictly comply with the technical requirements and combine with local agricultural agencies to build raw material areas, in addition to coordinating with packing facilities and agencies specialising in granting planting area codes to meet requirements from the Chinese market. Businesses should actively contact with agencies such as the border gate management board to obtain information on the progress of customs clearance to avoid congestion and ensure the quality of agricultural products, customs clearance time and transport costs.

Source: NDO    LINK

Henig:   VIMC reported all-time high profits, restructuring considered

February, 15/2023 - 10:22

The Vietnam Maritime Corporation (VIMC) reported its profit exceeding US$130 million in 2022, for the second year in a row.

HÀ NỘI - The Vietnam Maritime Corporation (VIMC) reported its profit exceeding US$130 million in 2022, for the second year in a row.

While the final figure was still not yet made public while under audit, VIMC, the country's largest State-owned maritime logistics corporation, said 2022 had been a good year for business.

Last year, VIMC's total shipping volume was estimated at 21.8 million tonnes, 13 per cent over the yearly target; cargo throughput via seaports was estimated at 124 million tonnes or 93 per cent of the yearly target; container volume was estimated at 5.8 million TEUs or 97 per cent of the yearly target.

That put the corporation's consolidated revenue at $653.9 million, 20 per cent over its annual objective and a 5 per cent increase over the previous year. VIMC’s earning in sea shipping was estimated at $81.2 million, a 71 per cent increase in the same period in 2021 and 44 per cent above 2022's target.

Once the financial audit is finalised, VIMC will likely be looking at a yearly profit north of $135 million, nearly 25 per cent above its set target, according to a statement released recently by the corporation.

VIMC operates a fleet of 59 ships, including four oil tankers (accounting for 5 per cent of VIMC’s total tonnage), 10 container ships (7 per cent of total tonnage) and 45 dry cargo ships (88 per cent of total tonnage). A majority of its fleet was either built or purchased prior to 2010 with an average service life of 20 years.

Restructuring

The corporation attributed recent success to restructuring efforts with a clear objective focusing on its core businesses and Việt Nam's booming export economy in the last decades.

VIMC identified its core businesses as sea shipping, port operation and maritime services.

In response to an earlier proposal by the corporation to reduce the State's share in VIMC from 99,47 per cent to 65 per cent in the near future, the Ministry of Industry and Trade said such a decision could not be made in a short time.

"VIMC is, directly or indirectly, involved in the management and operation of 14 seaports across the country and therefore, plays an instrumental part in the country's socio-economic development, as well as national security," said deputy minister of industry and trade Nguyễn Xuân Sang.

"The decision to reduce the State's share in the corporation must be thoroughly reviewed and studied," he said.

Commenting on the proposal, the Committee for Management of State Capital at Enterprises recommended that the State's share in the corporation remain the same at least for the 2021-25 period.

"Maintaining the State's shares in VIMC is to ensure the corporation will continue to play a leading role in the establishment and expansion of the country's supply and logistic networks, as well as efficient use of key resources," said a spokesperson from the committee.

The committee recommended the State maintain a minimum 65 per cent majority at the corporation in the future. VNS    LINK

Iraqi News Highlights Wednesday Afternoon 2-15-23

Iraqi News Highlights Wednesday Afternoon 2-15-23

Tlm724 Administrator Bondlady’s Corner

The Appearance Of Muhammad Salih: Compliance Of Private Banks Will Support The Stability Of The Exchange Rate

Money and business  Economy News-Baghdad  today, Wednesday, the economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the date for the stability of the dollar prices and the disappearance of the price differences.

Saleh stated in a press interview that “with the progress in the degrees of compliance practiced by private banks in the demand for foreign exchange, especially the foreign transfers responsible for financing foreign trade for the private sector, the money market will move towards stability and then the exchange rates in the parallel market will approach the official market and price differences will disappear.” that we are currently witnessing.

He added, “It is the opportunity that the licensed private banks, which number more than 80, will prove to show their national contribution by intensifying their effective efforts in price stability through their constructive cooperation in providing accurate commercial documents and correct data that do not collide with international compliance or the auditing principles practiced by the Central Bank platform.” Al-Iraqi on the transparency of commercial data,” noting that “90% of the demand for foreign currency, especially the dollar, is through the demand for foreign remittances.

https://economy-news.net/content.php?id=32483

The Region Describes The Dialogues With Baghdad As Positive And Is Looking Forward To Legalizing Oil And Gas

Posted On2023-02-15 By Sotaliraq   Baghdad / bright news  The parties in the Kurdistan region say that the atmosphere of the dialogues with the federal government is positive, and that it can be positively reflected in the next stage, especially in the field of oil and gas law legislation.

The head of the Kurdistan Democratic Party bloc, Vian Sabri, said in a statement to (Al-Mada), that "the current atmosphere between the federal government and the Kurdistan Regional Government is positive and is summarized after the visit of the delegation of the Kurdistan Region under the guidance of Massoud Barzani, headed by the Minister of Finance."

Sabri added, "Several meetings were held with all parties concerned with the issue of the budget and the issue of oil and gas."

And she pointed out, “The visits must continue until an acceptable vision is reached according to the constitution for the issue of the budget and the legislation of the oil and gas law.”

And Sabri went on to say, "The ministerial platform of the current government has put in its priorities the legislation of the oil and gas law within 6 months of forming the government, with the importance of implementing Article 140 of the constitution related to the disputed areas."

For his part, a member of the Patriotic Union of Kurdistan, Mahmoud Khoshnaw, stated, in a statement to (Al-Mada), that “the solutions that must be developed between the Kurdistan region and Baghdad must come from the constitution.”

Khoshnaw added, "A number of outstanding issues between the two parties should be resolved on the financial and oil levels."

And he talked about “the importance of having internal understandings also in the Kurdistan region between the parties, through a national political dialogue in accordance with the current circumstances.”

"The delegation of the Kurdistan Regional Government held three important meetings, the first of which was with the Federal Ministry of Oil, in which they discussed the main principles of oil and gas law," said a spokesman for the Kurdistan Regional Government, Jutiar Adel, yesterday.

Adel added, "The delegation of the Kurdistan Regional Government held a meeting with the concerned authorities to formulate the final points regarding the Iraqi federal budget for the year 2023."

He pointed out, "The delegation visited the Federal Border Crossings Authority to discuss raising the level of coordination between the two sides regarding customs tariffs and enhancing cooperation between the two sides."

And Adel went on to say that “the meetings achieved good results, but once again we are still waiting for the points of disagreement now, with the aim of discussing them and reaching a common understanding on them.”   LINK

High Central Bank Sales Of The Dollar In The Currency Auction

Economie   Wednesday, February 15, 2023 2:34 PM  Baghdad / National News Center   The central bank's dollar sales rose, on Wednesday, to $213 million.   https://nnciraq.com/186861/

A New Drop In Crude Oil Prices.. Brent Is Above $85 A Barrel

Wednesday 15 February 2023 09:07 | Economical Number of readings: 278  Baghdad / NINA / - Oil prices fell in early Asian trading today, Wednesday, after declining by more than a dollar a barrel in the previous session, as data in the sector indicated a much larger-than-expected increase in US crude inventories.

According to Reuters, Brent crude futures fell 20 cents to $85.38 a barrel by 01:11 GMT, while West Texas Intermediate crude futures fell 19 cents to $78.87.

US crude inventories rose by about 10.5 million barrels in the week ending in the tenth of February, according to market sources, citing figures from the American Petroleum Institute on Tuesday. This is a much larger increase than the 1.2 million barrels expected by analysts, which likely indicates a drop in fuel demand.

Gasoline stocks rose by about 846 thousand barrels, while distillate stocks rose by about 1.7 million barrels. Official government inventory estimates are due to be released at 03:30 GMT today./end8

https://ninanews.com/Website/News/Details?key=1033534

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

"Tidbits From TNT" Wednesday AM 2-15-2023

TNT:

CandyKisses:  Iraq will suspend official working hours next Thursday - Urgent

Baghdad today - Baghdad

An informed source said, on Wednesday, that the official working hours in the Iraqi governorates will be suspended next Thursday.

The source told (Baghdad Today), that "it was decided to suspend the official working hours in the country for Thursday, corresponding to February 16, on the occasion of the anniversary of the visit of Imam Al-Kadhim (peace be upon him)."

It is noteworthy that the visitors continue their march on foot from Baghdad and the various provinces towards the city of Kadhimiya to perform the rugby visit ceremonies, which will culminate next Thursday, amid a security, health and service alert that has been going on for days.

Tishwash:  Exchange offices are refusing to deal with the dollar after its rise

On Wednesday, the exchange offices in Anbar Governorate stopped buying and selling transactions in the dollar, after the dollar recorded a new rise in the exchange rate, reaching more than 152,000 dinars for every 100 dollars.

Youssef Al-Dulaimi, owner of an exchange office in Anbar, said in a statement to Al-Maalouma Agency, "The exchange offices spread throughout the cities of Anbar have stopped buying and selling operations for the dollar against the background of the high exchange rate to 152,500 dinars per 100 dollars, after it fell to 147,000 dinars from without knowing the real reasons behind his elevation.”

Al-Dulaimi added, "Stopping the process of dealing in dollars in exchange offices in Anbar until the stabilization of its rate decided by the Central Bank."

 He pointed out that "the exchange rate of the dollar fell yesterday to 147 thousand dinars, then it rose again to reach more than 152 thousand dinars, and this decrease and rise caused chaos in the buying and selling movement in exchange offices and private banks, and their inability to deal in light of the instability of prices." .

And he continued, "The exchange offices buy the dollar from citizens according to the central bank's pricing, but they sell it secretly at a price of more than 152 thousand dinars, secretly and unannounced." 

It is noteworthy that a security force coming from Baghdad arrested earlier one of the owners of exchange offices in the city of Ramadi, in possession of huge sums of money in dollar currency.    link

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Tishwash:  Fighting Corruption Harder than Fighting ISIS, Says Iraq’s Deputy Prime Minister

Fuad Hussein lays out Iraqi government’s priorities, says Iraq’s interests dictate its relations with Russia, China and Iran.

Iraqi Deputy Prime Minister Fuad Hussein on February 10 laid out the new Iraqi government’s priorities, outlined areas of common interest with the United States and defended his country’s relations with Iran, Russia and China — countries that are all at odds with the United States.

Speaking at the United States Institute of Peace, Hussein, who also serves as Iraq’s foreign minister, listed the fight against corruption as a top priority. “We are suffering from corruption as we suffered from ISIS,” Hussein said, referring to the Islamic State terrorists who at one point controlled vast swathes of Iraq and over whom the Iraqi government declared victory on December 9, 2017. “Fighting corrupt people is not so easy. Sometimes it is more difficult than fighting ISIS,” Hussein added.

Corruption Concerns and a Currency Crisis

Western governments are most concerned about corruption in Iraq, which Transparency International ranks toward the bottom of its Corruption Perceptions Index. The most recent high-profile corruption case involves stealing $2.5 billion from Iraq’s state-owned al-Rafidaen bank in what Iraqis have described as “the heist of the century.”

More recently, the U.S. Federal Reserve had restricted Iraq’s access to its dollars in an effort to address money laundering that the United States sees as benefiting Iran and funding terrorism. The United States controls the flow of dollars to Iraq as Iraq’s foreign reserves have been held in the U.S. Federal Reserve since the U.S. invasion and ouster of Saddam Hussein’s regime in 2003.

The resulting devaluation of the dinar prompted large protests in Baghdad. The Iraqi government responded by replacing the central bank governor and revalued the dinar in an effort to stabilize the situation.

Speaking in a discussion moderated by Sarhang Hamasaeed, the director of Middle East Programs at USIP, Hussein said the Iraqi central bank decisions were implemented in coordination with the U.S. Treasury Department and the Federal Reserve. The currency crisis, he said, has since blown over.

“Some people they are thinking that dollars that are coming from [the United States] to the Iraqi market [are] disappearing,” said Hussein. He said Iraq, which is heavily dependent on imports, uses dollars to make purchases from its trade partners that include the United States but also Iran. “With all these countries, when we buy, we pay, and we pay in dollars,” he said, adding that contrary to the perception in the West, dollars are not mostly smuggled from Iraq to other countries.

 Acknowledging some smuggling does take place, Hussein said: “This is painful for Iraqi people and the Iraqi government to only talk about smuggling dollars. There are, of course, some people who are smuggling dollars, as they are smuggling many other products.”

Addressing conspiracy theories that the United States is trying to undermine Iraqi Prime Minister Mohammed Shia al-Sudani’s government by restricting the flow of dollars, Hussein said his visit to Washington has proved otherwise. “This is the healthiest relationship between two countries, when you are talking about helping each other, understanding each other, supporting each other,” he said. “This is a very healthy relationship with the United States.”

Support for the New Government

Early elections on October 10, 2021, which followed two years of anti-government protests, resulted in political gridlock after the victor, Moqtada al-Sadr, failed to form a government and subsequently gave up all of his bloc’s parliamentary seats. Following a year of negotiations, in October 2022, Iraq’s parliament elected Abdul Latif Rashid as president. Rashid named al-Sudani as prime minister-designate.

 Al-Sudani was elected amid rocket attacks near parliament in Baghdad. Al-Sudani was the nominee of the Coordination Framework, al-Sadr’s main rival that is believed to be backed by Iran. The new government is a coalition of Shias, Sunnis and Kurds.

The Biden administration has taken incremental steps to build ties with al-Sudani’s government. U.S. President Joe Biden, joined by Jordan’s King Abdullah, spoke with al-Sudani on the phone earlier this month. Both Biden and al-Sudani understand the importance of the relationship between their countries and Hussein said the Biden administration has been supportive of the new government in Iraq.

In his meetings in Washington, Hussein and his interlocutors discussed the economy, energy, climate change and regional politics. Hussein described the meetings as positive and said: “There is a lot of support for the Iraqi government and for the process of democracy in Iraq.”

Roots of the Problem

In his opening remarks, Hussein recounted a recent history of Iraq. Starting with the overthrow of Saddam’s regime 20 years ago, the U.S. invasion, the war against ISIS, the quarrel between Oil and Petroleum Exporting Countries (OPEC) members that led oil prices to drop and the COVID-19 pandemic, Hussein explained Iraq’s problems have “got roots.”

However, Hussein said, the situation in Iraq today is very different. Describing the security situation as “going well,” he said terrorists are no longer a big threat to Iraqi society or its political system. Nevertheless, he said, “we must be aware because it’s not just about the fighters, it’s about the ideology.”

“To defeat the terrorists is easier than to defeat the ideology,” Hussein said, while noting it will take an “intellectual attack” to achieve this goal. Tens of thousands of women and children in al-Hol camp in northeastern Syria are vulnerable to ISIS ideology and need continued Iraqi, Syrian and international attention.  

Common Interests with the United States

Hussein laid out some areas of common interest with the United States. These include addressing the challenge posed by terrorism and climate change. He also discussed the importance of investing in Iraqi gas. “Everyone knows Iraq is an oil country,” said Hussein, “but Iraq can also be a gas country.”

The deputy prime minister said helping Iraq develop its gas sector will not just benefit Iraq and the Iraqi economy, it will also benefit other countries, including those in the West. A stronger Iraqi economy will benefit the region as well as attract U.S. companies, he added.

Developing the gas sector could also help the Iraqi government meet one of its priorities of providing reliable electricity supply to Iraqis. But this will take a couple of years to achieve. As for now, Hussein predicted a difficult summer ahead for Iraqis.

Iraq’s Foreign Relations

Baghdad has turned into a hive of diplomatic activism. In just this past month, senior officials from Russia, Iran, Saudi Arabia and Morocco have visited the Iraqi capital. Hussein said he will soon host Iran’s foreign minister.

“We are thinking about our interests in the first place — security interests, economic interests, political interests and strategic interests and then we are building our relationships on these interests,” Hussein explained.

Hussein said while it is impossible to ignore China, with which Iraq has a $20 billion trade relationship, Iraq also has a longstanding relationship with Russia. Iraq’s ties with Russia have been complicated by international sanctions on the latter in response to its war in Ukraine. Hussein said sanctions had made it impossible for Iraq to pay its Russian trade partners.

 “Our responsibility is to protect our banks,” he said, adding that Iraq has discussed its predicament with U.S. and Russian officials. In some other trade partners, Russia has left its money in those countries’ banks, Hussein said, hinting at a similar arrangement for Iraq. 

Hussein noted that Iraq has a good relationship with the United States but also with Iran. Acknowledging the tensions between the United States and Iran, he expressed the hope that Washington and Tehran would soon resume the nuclear dialogue that has paused in Vienna. “We are telling both sides that the tensions between both countries is not good, anyhow, for us,” he said.   link 

CaptWillie:  It finally appears that we are on the cusp of this event to its conclusion. Today, I came across this YouTube video on people who have come into large amounts of money and the mistakes they made afterward. I think this is something that we need to consider...

https://www.youtube.com/watch?v=Hz3DFsUVDg8&ab_channel=TopDiscovery

Wednesday Morning Iraq Economic News Highlights 2-15-23

Wednesday Morning Iraq Economic News Highlights 2-15-23

Central Bank Governor: We Are Determined To Stabilize The Exchange Rate

Balsam Hameed  The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed today, Wednesday, that the platform was found to protect the banking sector, while indicating the central bank’s determination to stabilize the exchange rate of the dollar.

Al-Alaq said to the official agency, followed by (Al-Oula News), that “the new electronic platform to avoid the imposition of any penalties on the parties that carry out transfer operations, whether they are banks or others, as it is a protection for the banking sector, the central bank and banks from falling into any forms related to external financial transfers and this serves all the parties".

On the exchange rate of the dollar, Al-Alaq explained, “The central bank’s responsibility is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal.” He added, “Our discussions with the International Monetary Fund were very fruitful, and we agreed on programs that serve properly directly or indirectly to achieve this goal.  LINK

URGENT The Central Governor Reveals The Secrets Of Decreasing The Dollar And The Reason For Its Rise In The Markets

Time: 02/15/2023 Read: 8,892 times  {Economic: Al Furat News} The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed the secrets and the reason for the government's decision to reduce the exchange rate of the dollar against the dinar, on the recommendation of the bank.

Al-Alaq said in a press statement on the sidelines of the Iraqi delegation's visit to Washington: "The decision is based on an in-depth study in this field, and the main reason is the high rate of inflation, and we do not want to burden the citizen with the consequences of this price, especially with the high general level of prices."

And he indicated, "The main goal of the central bank in all the world is the general stability of prices, or preventing inflation and crossing unwanted levels, and this is one of our tools that we use in adjusting the exchange rate, in a way that reduces the rate of inflation."

Al-Alaq added, "What we are focusing on internally and externally is trying to facilitate and simplify the entry of merchants, especially those seeking dollars, to the platform. The faster their entry to the platform, the closer we are to achieving stability and balance between supply and demand."

He stressed, "This is our mission, and we will issue a number of instructions and directives to banks and other financial institutions in order for things to be clear and easy, so that they can enter the platform as soon as possible.

He pointed out that "the official price should not exceed 1,320 dinars against the dollar in the market. We believe that there is no reason or justification for selling the dollar at more than this price, as long as the Central Bank is committed to providing the dollar at the official price for all dollar seekers, whether for commercial purposes or For personal purposes or for all existing purposes, and if the Central Bank provides the dollar to all its applicants at the official rate, there is no longer justification for another price, unless it is for reasons related to speculation or illegal operations, so we do not believe that this price is the real price.

And he stressed that "with the procedures and instructions that were issued and that will be issued, we will not find a reason to pay more than the official price, as long as we provide it to everyone, and also everyone can report to the Central Bank about cases of exceeding the official price, and we cover the difference, and there is no longer any reason." There is a problem with the price issue.

And Al-Alaq continued, "As it is clear, the Iraqi dinar enjoys strength based on the large reserves that cover this dinar, and it constitutes a real strength. The value of the dinar is a real value and not made up, given that there are large foreign reserves that cover this dinar, and as long as the central bank affirms and works to achieve its goal of stability." The general price of prices and the preservation of the value of the dinar against the dollar, the external force for it is represented by the exchange rate, there should be great reassurance that this is our goal and we are working on it and we will achieve it.   LINK

New Statements From The Central Bank Governor Regarding The Dollar Crisis

2023.02.15 - Baghdad - Nas    The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed, on Wednesday, that the platform was found to protect the banking sector, while indicating the central bank’s determination to stabilize the exchange rate of the dollar.

  "Nass" channel on Telegram.. our latest updates

  Al-Alaq said in a statement to the official agency, followed by “NAS”, (February 15, 2023), that “the new electronic platform is to avoid any penalties imposed on the parties that carry out transfer operations, whether they are banks or others, as it is a protection for the banking sector, the central bank and banks from falling into any forms.” It is related to foreign financial transfers, and this serves all parties."

On the exchange rate of the dollar, Al-Alaq explained, “The responsibility of the central bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal.” He added, “Our discussions with the International Monetary Fund were very fruitful, and we agreed on programs that serve properly directly or indirectly to achieve this goal.  https://www.nasnews.com/view.php?cat=102083

Al-Alaq: The Responsibility Of The Central Bank Is To Close The Difference In The Dollar Exchange Rate

Last Updated: 15 February 2023 - 10:56 AM  [size=17]Baghdad / Iraq News Network - The Governor of the Central Bank of Iraq, a leader in the Dawa Party Ali Al-Alaq, on Wednesday, that the platform was found to protect the banking sector, while pointing to the Central Bank's determination to stabilize the dollar exchange rate. Dollar exchange rate Al-Alaq explained that "the responsibility of the Central Bank is to close the difference in the exchange rate, and our steps are serious and vigorous, and we receive great support from all parties to achieve the goal," adding, "Our talks with the International Monetary Fund were very fruitful and we agreed on programs that serve directly and indirectly to achieve this goal."    LINK

Central Bank Sales Of Dollars Today Rose To 213 Million Dollars

2023/02/15  Baghdad / resource news  The central bank's dollar sales rose, on Wednesday, to $213 million.    https://almawrid.news/contents/view/details?id=60075

Central Bank: Bank Outlets For Selling Foreign Currency Continue To Work By Selling The Dollar

Time: 02/14/2023 Read: 3,874 times  {Economic: Al Furat News} The Central Bank of Iraq called today, Tuesday, for citizens who intend to travel to "countries that are allowed to deal in the currency of the US dollar" to go to sales outlets in banks, exchange companies and mediation companies to buy and sell foreign currencies authorized to buy the dollar at the specified official rate.

The useful summary.. On important news, you can find it on Al-Furat News channel on Telegram.. To subscribe, click here

And the Central Bank noted, in a statement that {Euphrates News} received a copy of, that: “The sale of the dollar will take place according to the instructions and controls of the Central Bank of Iraq,” stressing that “in the event that any of the banks or companies refuse to sell at the official price, contact the two numbers (07809224663). ) or (07853330555) to file a complaint against the party that refuses to do so.

It is noteworthy that the outlets of banks for the sale of foreign currency continue to work by selling the dollar in accordance with the instructions and controls of the Central Bank of Iraq, which launched earlier a package of measures that contribute to the stability of the foreign currency market.   LINK

Iraqi Foreign Minister Fuad Hussein.. The Iraqi Delegation In Washington Reached An Agreement With American Officials Regarding The Dollar

Iraqi Foreign Minister Fouad Hussein said on Wednesday that the Iraqi delegation in Washington had reached an agreement with US officials regarding the dollar.

Hussein said in his statements, today (February 15, 2023), that "an agreement has been reached with American officials regarding the dollar, oil, gas, electricity and many other issues."

He explained that "Iraq imports most of its needs from abroad, and buys needs in dollars, so most dollars go abroad for trade, but there was no organized mechanism to withdraw dollars from the central bank and Iraqi markets."

And the Minister of Foreign Affairs confirmed, “Iraq has taken banking measures and now there is a mechanism,” adding, “I see that the currency issue will be gradually resolved, and that the Americans have put in place a mechanism to monitor the withdrawal.” of the dollar, which affected the price, and this will stabilize step by step.”

Hussein continued, "The Iraqi society imports almost everything from abroad, and we sell only oil, and the import needs the dollar, and this is the reason for the exit of the dollar from Iraq, and we did not have a mechanism to regulate the exit from the dollar, and we put in place a mechanism to regulate the currency and control the movement of the dollar.”

The Minister of Foreign Affairs stated, "We did not visit Washington to prevent the exit of the dollar to Iran, but rather to organize its movement inside Iraq," noting that "according to the new system, it will be difficult for the dollar to exit outside the control of the state and the responsible American authorities.”

Hussein indicated, "The visit was for a week, and we discussed almost everything related to bilateral relations, and the Americans put forward their visions, and we reached an agreement on most issues," noting that "on the currency side, the Americans understand very well the steps of the Central Bank. LINK

Fuad Hussein: We Reached An Agreement With American Officials Regarding The Dollar

2023.02.15 -   Baghdad - Nas  Iraqi Foreign Minister Fouad Hussein said, on Wednesday, that the Iraqi delegation in Washington had reached an agreement with US officials regarding the dollar.

"Nass" channel on Telegram.. our latest updates    Hussein stated in an interview with the Kurdish section of (VOA) translated by "Nass" (February 15, 2023), that "an agreement was reached with American officials regarding the dollar, oil, gas, electricity and many other issues."   

He explained that "Iraq imports most of its needs from abroad, and buys needs in dollars, so most dollars go abroad for trade, but there was no organized mechanism to withdraw dollars from the central bank and Iraqi markets."    

And the Foreign Minister confirmed, "Iraq took banking measures and now there is a mechanism," adding, "I see that the currency issue will be gradually resolved, and that the Americans have put in place a mechanism to monitor the withdrawal of the dollar, which affected the price, and this will stabilize step by step."    

Hussein continued, "The Iraqi society imports almost everything from abroad, and we sell only oil, and the import needs the dollar, and this is the reason for the exit of the dollar from Iraq, and we did not have a mechanism to regulate the exit of the dollar, and we put in place a mechanism to regulate the currency and control the movement of the dollar."

The Foreign Minister stated, "We did not visit Washington to prevent the exit of the dollar to Iran, but rather to organize its movement inside Iraq," noting that "according to the new system, it will be difficult for the dollar to exit outside the control of the state and the responsible American authorities."

Hussein pointed out, "The visit was for a week, and we discussed almost everything related to bilateral relations, and the Americans put forward their visions and we reached an agreement on most issues," noting that "the Americans understand very well the central bank's steps on the currency side."

https://www.nasnews.com/view.php?cat=102105

Iraqi News Highlights Tuesday Evening 2-14-23

Iraqi News Highlights Tuesday Evening 2-14-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Invites Travelers Wishing To Buy Dollars To Go To Exchange Companies

Economie| 04:54 - 02/14/2023  Baghdad - Mawazine News  , today, Tuesday, the Central Bank of Iraq called on travelers wishing to buy dollars to go to exchange companies. A statement of the bank, received by Mawazine News, stated that it "calls on citizens who intend to travel to countries that are allowed to deal in the currency of the US dollar" to go to sales outlets in banks, exchange companies, and mediation companies to buy and sell foreign currencies authorized to buy the dollar at the specified official rate.

, that "the sale of the dollar will take place according to the instructions and controls of the Central Bank of Iraq, stressing that in the event that any of the banks or companies refrain from selling at the official price, call the numbers (07809224663) or (07853330555) to file a complaint against the party that refrains from that."

And he stressed that "bank outlets for selling foreign currency continue to work by selling the dollar in accordance with the instructions and controls of the Central Bank of Iraq, which launched earlier a package of measures that contribute to the stability of the foreign currency market." Ended 29 / m 99

https://www.mawazin.net/Details.aspx?jimare=219331

Parliamentary Finance Is Discussing With The Directors Of The Rasheed And Real Estate Banks The Development Of The Banking System

Tuesday 14 February 2023 16:21 | Economical Number of readings: 175  Baghdad / NINA / - The Parliamentary Finance Committee discussed with the general directors of the Rasheed Bank and the Real Estate Bank the development of the banking system.

The Media Department of the House of Representatives stated: "The Finance Committee, headed by Representative Atwan Al-Atwani and the presence of its members today, hosted the General Manager of Al-Rashid Bank, Basem Abd Ali, and the General Manager of the Real Estate Bank, Abbas Shihab, to discuss the development of the banking system in Iraq and facilitate the granting of loans."

During the hosting, the committee clarified about the procedures followed by banks and initiatives to grant housing loans and support small projects, as well as the number and size of disbursed loans, in addition to the volume of indebtedness and the contribution to replenishing the budget, in addition to the salary settlement mechanism, expressing its readiness to provide assistance in developing and bringing about a quantum leap. In the field of automation and development of the banking system, and ideas that contribute to improving performance.

The committee asked to provide it with the procedures taken by banks and the investments pertaining to them, with an official letter for perusal, based on the internal system of the House of Representatives and to take over its oversight role.

For his part, the General Manager of Al-Rasheed Bank reviewed the bank's tasks and the bank's initiative to exchange dinars for dollars for travelers at the official subsidized rate, as well as the types of loans granted to support investment and commercial projects to contribute to providing citizens' needs.

The Director General of the Real Estate Bank clarified projects for financing citizens to purchase housing units, and the bank's procedures within the real estate initiatives, adding work on studying the organizational structure of the bank, the comprehensive banking system project (automation), and heading to the electronic collection project, stressing the importance of increasing capital to continue with initiatives to grant loans to buy Residential Units./End 7

https://ninanews.com/Website/News/Details?key=1033376

Finance: Iraq Maintains Its Credit Rating With A Stable Outlook

Tuesday 14 February 2023 Economical readings: 2  Baghdad / NINA /- The Ministry of Finance announced today, Tuesday, that Iraq has maintained its credit rating at -B/B, with a stable outlook.

The ministry said in a statement: "The latest report of Standards & Poor's (S&P) acknowledged that Iraq maintains its credit rating at -B/B with a stable outlook, and an emphasis on financial and economic stability, according to the agency's report."

She pointed out: "The classification came as a reflection of the policy of continuous economic and financial reforms pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceed the service of the external public debt and the fulfillment of other external financial obligations as a result of the rise in crude oil prices."

While the agency's report indicated "the possibility of improving the credit rating of Iraq in the event of a high rate of economic growth and diversification of the state's general financial revenues, oil and non-oil, and an increase in the per capita share of national income and the continuation of measures to reform financial and economic policy." https://ninanews.com/Website/News/Details?key=1033414

Central Bank Sales Drop To 94 Million Dollars

Money and business  Economy News-Baghdad  The central bank's sales of dollars increased in an auction today, Tuesday, for foreign remittances.

According to the bank's daily bulletin, "the Central Bank sold today, during its auction for the sale and purchase of US dollars, 94,950,560 dollars, which the bank covered at a basic exchange rate of 1,305 dinars per dollar for documentary credits and international settlements for electronic cards, at a price of 1,310 dinars per dollar for foreign transfers, and at a price of 1,310 dinars." per dollar in cash.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits) at 53,750,560 dollars, while the rest of 41,200,000 dollars went in cash.

The number of banks that bought cash dollars reached 13 banks, while the number of banks that responded to requests for strengthening balances abroad reached 16 banks, while the total number of exchange and mediation companies participating in the auction was 176 companies.

https://economy-news.net/content.php?id=32473

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Some "Vietnam News" Posted by Henig at KTFA Tuesday 2-14-2023

KTFA:  Vietnam

Henig:  EVFTA ensures fair competition, subsidies

06:00 | 14/02/2023

(VEN) - Senior Vietnamese and European officials held a recent assessment of the initial two-year implementation of the EU-Vietnam Free Trade Agreement (EVFTA) at a meeting chaired by Minister of Industry and Trade Nguyen Hong Dien and European Commissioner for Trade Valdis Dombrovskis. Both acknowledged the efforts made by their respective monitoring agencies and enterprises in taking advantage of the trade deal’s many opportunities.

One of the most significant chapters of this new-generation agreement concerns the importance of fair competition policy to ensure a more efficient allocation of scarce public or private resources. Rules on competition are not about increasing market access per se, but rather about ensuring appropriate conditions which will enable market access to become effective and translate into real business opportunities.

European officials have made clear that anticompetitive behavior and certain subsidies are not the traditional tariff barriers to trade but can be important behind-the-border barriers. The EU is particularly interested in ensuring a level playing field for European and Vietnamese companies and avoiding trade benefits stemming from the FTA being neutralized by anti-competitive practices.

When properly designed, competition related issues are inherently pro-development, since it is developing countries whose companies and consumers are the most vulnerable victims of anti-competitive practices. Moreover, it will be easier for Vietnam to attract foreign companies if these can be reassured that basic competition laws will be respected.

The EU and Vietnam have agreed to a section on antitrust and mergers (anticompetitive conducts), including the obligation to maintain competition laws and relevant authorities and to apply the laws in a transparent and non-discriminatory manner. This means that companies operating in Vietnam should respect the same basic competition principles as in Europe, i.e., no abuse of a dominant position and no agreements between enterprises that restrict competition and scrutiny of the competitive effects of a merger.

Subsidy rules

At the same time, companies are assured that their rights in the competition procedures will be respected (procedural fairness) and that they can turn to the Vietnamese competition authorities to ask them to ensure an efficient competitive environment. Companies can receive subsidies for well-defined public policy objectives, such as research and development, training and regional development. However, the FTA acknowledges that certain kinds of subsidies can hinder competition and trade. Therefore, rules limit the potential negative effects of the subsidies. These cover transparency, consultations and some of the most distortive types of subsidies, which are made subject to specific conditions.

The EVFTA sets an illustrative list of such public objectives, including practices involving a direct transfer of funds, potential direct transfer of funds or liabilities; revenue that is otherwise due is foregone or not collected; providing goods or services other than general infrastructure, or purchase goods; making payments to funding mechanism, or entrusting or directing a private body to carry out one or more type of functions regulated; and any form of income or price support in the sense of exemption of non-discrimination principle in Article XVI of the 1994 General Agreement on Tariffs and Trade (GATT 1994).

Vietnam has agreed to notify not only of subsidies to goods but also subsidies to services. This goes well beyond the existing World Trade Organization (WTO) rules. As a result, at least every four years both sides will notify or make public the subsidies granted to companies in selected services sectors, which are important from market access point of view such as telecommunications, banking, transport and energy.

If a party considers that specific subsides granted by the other negatively affect trade or investment, it may express its concern in written form to the other and request consultations on the matter. The requested party shall provide information or conduct to eliminate or minimize these negatively affect caused by subsidies.

Duy Hung    LINK

*************

Henig:  HCM City gets ready for new foreign investment wave

09:10 | 14/02/2023

As an economic locomotive, Ho Chi Minh City has always led the country in terms of investment attraction, drawing the attention of foreign investors from around the world.

However, to be able to strongly attract foreign direct investment (FDI) and welcome new investment waves, the southern hub needs to solve bottlenecks and stagnation in investment procedures. HCM City also needs to work on promoting the development of new areas such as technology, finance, and urban infrastructure.

According to the municipal Department of Planning and investment, the city topped the country in the total value of foreign investments in 2022, including new and additional investment capital and capital contribution, share purchase, and contributed capital purchase reached more than 3.94 billion USD, up 5.4 % compared to 2021.

Among newly granted projects, there were 820 newly granted works in the form of 100% foreign capital investment, 71 joint ventures, and two projects in the form of business cooperation contracts.

The city has several advantages in economic development, particularly high-quality human resources, and relatively developed infrastructure to attract investment in high-tech service industries, according to economic experts.

It also has a favourable strategic location, and is the country's largest high-tech manufacturing and service centre as well as a multicultural city suitable for foreigners coming to work, live and travel.

The city will restructure its economic sectors to focus on attracting FDI in key industries. It will also promote investment attraction in industries with high added value on the basis of the high-tech industry and digital economy, automation, artificial intelligence, software, and microchips.

It has also focused on turning into the largest creative startup hub in the country to help improve the efficiency of the labour market. This will support the real estate market, science and technology, and the financial market according to the standards of the market economy and international economic integration.

Source: VNA    LINK

***************

Henig:  Việt Nam to have 30 airports by 2030: draft planning

07:00 | 14/02/2023

Việt Nam will have a total of 30 airports by 2030 including 14 serving international flights, according to a draft plan that the Civil Aviation Authority of Vietnam (CAAV)has submitted to the Ministry of Transport recently.

The international airports are Vân Đồn, Cát Bi, Nội Bài, Thọ Xuân, Vinh, Phú Bài, Đà Nẵng, Chu Lai, Cam Ranh, Liên Khương, Long Thành, Tân Sơn Nhất, Cần Thơ, and Phú Quốc.

The 14 airports serving only domestic flights are Lai Châu, Điện Biên, Sa Pa, Nà Sản, Đồng Hới, Quảng Trị, Phù Cát, Tuy Hòa, Pleiku, Buôn Ma Thuột, Phan Thiết, Rạch Giá, Cà Mau, and Côn Đảo.

Two military airports – Thành Sơn and Biên Hòa – will be converted to use for both military and civil purposes.

The draft plan still includes the Hải Phòng International Airport project which was approved in the Prime Minister’s Decision No. 640/QĐ-TTg dated April 28, 2011.

By 2050, Việt Nam expects to have 33 airports including 14 international airports Vân Đồn, Hải Phòng, Nội Bài, Thọ Xuân, Vinh, Phú Bài, Đà Nẵng, Chu Lai, Cam Ranh, Liên Khương, Long Thành, Tân Sơn Nhất, Cần Thơ and Phú Quốc. There will also be 19 domestic airports (Lai Châu, Điện Biên, Sa Pa, Cao Bằng, Nà Sản, Cát Bi, Đồng Hới, Quảng Trị, Phù Cát, Tuy Hòa, Pleiku, Buôn Ma Thuột, Phan Thiết, Rạch Giá, Cà Mau, Côn Đảo, Biên Hòa, Thành Sơn and the second airport in the southeast, south region of Hà Nội).

CAAV will continue to study, survey, and evaluate the possibility of converting some existing military airports into dual-use facilities including Yên Bái airport in Yên Bái Province, and Gia Lâm airport in Hà Nội. The conversion will be reported to the Prime Minister for consideration when all necessary conditions are met.

In particular, this draft plan reflects CAAV’s openness to the new civil airports.

The agency proposes to continue studying, surveying and evaluating the possibility of building airports in provinces that are located in key positions in defence and security and with potential for tourism development but have no military airport. These are Hà Giang, Tuyên Quang, Hà Tĩnh, Kon Tum, Quảng Ngãi, Bình Thuận, Khánh Hòa, Đắk Nông and Tây Ninh.

The Transport Engineering Design Incorporated (TEDI) – consultant for the national airport development planning – proposes that the capacity of Long Thành airport by 2030 is 25 million passengers per year. The capacity of Long Thành airport would then increase to 100 million passengers by 2050. The Tân Sơn Nhất airport is to have a maximum capacity of 50 million passengers yearly.

Biên Hòa airport is expected to handle five million passengers yearly by 2030, and up to ten million passengers by 2050.

Source: VNS    LINK

Henig:  Việt Nam urged to ensure exports to Asian, African markets in 2023

February, 14/2023 - 08:56

These challenges included a world economic recession, competition among major big economies, trade protectionism, inflation and rising interest rates, MoIT's Director of the Asia-Africa Market Department said.

HÀ NỘI — Vietnamese exporters need to ensure their capacity and maintain existing export markets, typically Asian and African outlets, amid many challenges in 2023, a senior trade official has said. 

These challenges included a world economic recession, competition among major big economies, trade protectionism, inflation and rising interest rates, Lê Hoàng Oanh, Director of the Asia-Africa Market Department under the Ministry of Industry and Trade, said.

To do so, firms must make sure that their products meet the quality requirements of exported goods and shipped goods, which Asiam and African markets need rather than what they have, Oanh told congthuong.vn. 

She said open export procedures, convenient logistics services, and updated information about the import policies of the host country would also be necessary to facilitate exports to these markets.

According to the official, ensuring raw materials would play a key role for exporters, especially those exporting textiles and garments to China and South Korea and others shipping seafood products to South Asia and Southeast Asia.  

Input materials for production needed to be diversified to avoid dependence on one or several markets, she added. 

In 2023, Oanh encouraged exporters to continue promoting their exports to some lucrative markets such as China and India. In China, firms should pay attention to the Yunnan market. 

Guangxi and Yunnan have the same population of about 50 million people but the scale of Việt Nam's trade with Yunnan in 2022 reached only US$3.2 billion compared to the country's $30 billion trade with Guangxi, she explained. 

Meanwhile, India is also a potential market with considerable purchasing power and market demand thanks to a population of 1.4 billion people. Annually, India imported about $560 billion worth of goods. However, Việt Nam's exports made up only 1.4 per cent of the country's total import value of $8 billion. 

Besides the markets mentioned above, Oanh also advised exporters to look to African markets, which have much untapped opportunities for them to accelerate their exports, as Việt Nam only accounted for 0.6 per cent of Africa's import turnover worth $600 billion per year.

Việt Nam’s merchandise trade with Asia reached $475.29 billion in 2022, increasing by 9.6 per cent compared to 2021 and accounting for the highest proportion (65.1 per cent) in the country's total import-export value.

Major trade partners of Việt Nam in Asia include China, South Korea, Japan, and the Association of Southeast Asian Nations (ASEAN).

Last year, the value of imports and exports between Việt Nam and Africa was $8.1 billion, down 3.9 per cent. 

— VNS    LINK

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Henig:  Demand for industrial land for rent remains high

February, 14/2023 - 08:59

The demand for industrial land for rent in Việt Nam will remain high this year thanks to policies promoting investment in the country, experts said.

HCM CITY — The demand for industrial land for rent in Việt Nam will remain high this year thanks to policies promoting investment in the country, experts said.

Due to short supply, rental prices for industrial land are expected to continue to rise by an average of 8-20 per cent year-on-year in 2023, depending on the region, according to a report by the SSI Securities Corporation.

Last year, industrial real estate rents rose by an average of 10 per cent due to high demand, according to the report.

Trang Minh Hà, chairman of North Stars Asia Company, said that in Việt Nam, industrial real estate leasing has seen a hike in demand and rental prices, especially for logistics and warehousing.

The industrial land-for-rent market is likely to remain strong over the next 12 months, she added.

Demand for industrial land has surged as the occupancy rate in industrial hubs has reached almost 100 per cent, she said.

Many ready-built warehouses, factories and logistics and data centres are being built in industrial parks (IPs) across the nation, she added.

The average rent for industrial land in the southern region was $159 per square metre in the last quarter of 2022, up 3 per cent over the previous quarter and 10 per cent year-on-year, according to global real estate services firm Cushman and Wakefield.

The highest rent in HCM City was $300 per sqm. The occupancy rate increased to 92 per cent from 91 per cent. The average rent in Bình Dương and Long An provinces was $180.

According to the Ministry of Planning and Investment, Việt Nam has 292 industrial parks with a total land area of 87,100ha and 106 more are under construction.

They are home to some 10,000 domestic companies and 11,000 foreign-owned firms that have invested over $340 billion.

Việt Nam continues to be an appealing destination for industrial real estate investors, according to Cushman and Wakefield.

The firm attributed this to the country’s stable growth rate, an export-oriented economy, a young labour force, investment incentives, a strategic location and a positive economic outlook.

With a stable political environment, Việt Nam has also become popular for foreign investors moving out of China.

— VNS   LINK

More "Tidbits From TNT" Tuesday PM 2-14-2023

TNT:

Tishwash:  Finance: Iraq maintains its credit rating at B/B- with a stable outlook

The Ministry of Finance announced, on Tuesday, that Iraq maintains its credit rating at -B/B with a stable outlook in the latest report of Standard & Poor's (S&P)

The Finance said, in a statement received by (Baghdad Today), that: “The new classification came as a reflection of the policy of continuous economic and financial reforms pursued by the Ministry of Finance, in addition to maintaining the level of foreign currency reserves that exceeds the external public debt service and the fulfillment of other external financial obligations as a result of the rise in crude oil prices.” ".

While the agency's report indicated, according to the statement, "the possibility of improving the credit rating of Iraq in the event of a high rate of economic growth, diversification of the public financial revenues of the oil and non-oil state, an increase in the per capita share of national income, and the continuation of financial and economic policy reform measures."

It is noteworthy that (Standard & Poor's), as a credit rating agency, issues its rating to measure the ability of a borrower government, company or institution to fulfill its financial obligations to the lender, meaning that this rating is a testimony about the financial position of the concerned party.  link

Tishwash:  Formal, parallel, market and economy

The "official" rate for the dollar is 1,300 dinars.
The price of the parallel market for the dollar now is 1527 dinars.
The market.. the market.
As long as there is an "official" price (of anything), there is a corresponding "market" price.
As long as there is a market, there will remain a "gap" between the "official price" and the "market price".

Sometimes the price is “managed”, and the market rhythm is “set” .. and some “countries” do this, because they are able to do so .. i.e. they are able to influence the size of the price “gaps” and the extent of their widening, according to the main macro variables that govern the economy .

The “success” in achieving this “discipline,” “control,” or “influence” will remain “relative.” Because no “authority,” including the powers of the most powerful dictatorships in the world, can “completely” regulate or control the market price. .

Sometimes (as is the case with the current exchange rate crisis in Iraq, with all its details and causes), “success” in this regard will only be embodied in the ability of the “state” to narrow the difference between the official price and the parallel market price of the dollar against the dinar.

As for the “government” taking “urgent” decisions and adopting “hasty” policies with the aim of narrowing the difference between the two prices, and yet the difference between the official price and the parallel market price remains the same (or widens over time), this is the specific “failure”.

Failure that may lead to chaos in the economy.
This is the chaos that oil is covering up now.
We have nothing but oil now.
And we have no “guardian” or “intercessor” other than him.. even for a while.   link

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Tishwash:  There will be no American hegemony after today." The law clarifies the content of Al-Sudanese's message to Washington

Today, Tuesday, the State of Law Coalition clarified the content of the Prime Minister's message, Mohamed Al-Sudani, to the United States of America, while the government's openness towards European countries aims to get rid of Washington's "hegemony".

“The Prime Minister, Muhammad al-Sudani, gave a clear message to countries that may believe that Iraq is their share, whether it is financial, economic, or investment, like America or others,” pointing out that “the content of this The message is the government's balanced foreign steps and moving away from unilateral relations.

He added, "This private government openness towards European countries is a clear message that Iraq will not accept hegemony, especially economic, and will remain under foreign commandments and remain in this state as if it is mortgaged."

And the representative of Al-Maliki's coalition continued his speech, saying: "When Iraq has complex relations, especially we need various specializations, and considering the existence of countries specialized in the field of crimes and combating terrorism, electricity, education, it seeks to achieve interests that benefit its people.”

"The government is continuing to establish balanced international relations away from indicators of domination and exclusivity in Iraq," Makhaif stressed.

A member of the House of Representatives, Ali Al-Jamali, had ruled out America's ability to make Iraq an enemy of neighboring countries, especially the Islamic Republic of Iran, while stressing that the government was continuing to get rid of American hegemony.   link

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Tishwash:  The Foreign Minister from Washington: Not to allow others to interfere in Iraq's affairs

Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, affirmed Iraq's commitment not to use its lands to attack others, and not to allow others to interfere in Iraq's affairs.

And the Foreign Ministry stated in a statement: "The minister met, at his residence in Washington, Theresa Stephen Joynov, Deputy Assistant Secretary of Defense for International Security Affairs, and during the meeting they discussed issues of common interest: The meeting dealt with praising the efforts of the American forces in helping Iraq eliminate gangs.

" ISIS terrorist organization, military and security cooperation with Iraqi forces, and reviewing Iraq's efforts to achieve stability and security in the region.

The minister stressed the necessity of continuing joint coordination to eliminate the remnants of terrorist organizations and combat extremist ideologies and ideas that support this organization, and the Iraqi government's keenness to provide the best means of training and qualification for the Iraqi security forces in all their forms.

The minister indicated Iraq's commitment to achieving the best balanced friendly relations with neighboring countries and the region, not to use Iraqi lands to attack others, not to allow others to interfere in Iraq's affairs, not to enter into disputes and conflicts, and to be keen to bridge the views between the different parties and to build good relations based on common interests.

And he emphasized the role of Iraq in rejecting wars in principle because of the suffering of the Iraqi people for decades from these wars, and affirmed the constant endeavor within the initiative of the League of Arab States to end the war between Russia and Ukraine, which affected the whole world in all political, economic, social and humanitarian aspects.

For her part, Joynov affirmed the United States' support for Iraq in achieving stability, building its armed forces, and supporting Iraq's efforts to achieve stability in the region.   ink

Mot:  A nun, badly needing to use the restroom, walked into a local Irish Pub.

The place was hopping with music and loud conversation and every once in a while “the lights would turn off.”

Each time the lights would go out, the place would erupt into cheers.

However, when the revelers saw the nun, the room went dead silent.

She walked up to the bartender, and asked, “May I please use the restroom?”

The bartender replied, “OK, but I should warn you that there is a statue of a naked man in there wearing only a fig leaf.”

“Well, in that case, I’ll just look the other way,” said the nun.

So the bartender showed the nun to the back of the restaurant.

After a few minutes, she came back out, and the whole place stopped just long enough to give the nun a loud round of applause.

She went to the bartender and said, “Sir, I don’t understand. Why did they applaud for me just because I went to the restroom?”

“Well, now they know you’re one of us,” said the bartender. “Would you like a drink?”

“No thank you, but, I still don’t understand,” said the puzzled nun.

“You see,” laughed the bartender, “every time someone lifts the fig leaf on that statue, the lights go out.”

Iraqi News Highlights Tuesday Afternoon 2-14-23

Iraqi News Highlights Tuesday Afternoon 2-14-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Calls On Citizens To Report Banks That Refrain From Selling Dollars At The Official Rate

Today, Tuesday, the Central Bank of Iraq called on travelers wishing to buy dollars to go to exchange companies.  The bank said in a statement: "The Central Bank of Iraq invites citizens who intend to travel to" countries that are allowed to deal in the currency of the US dollar "to go to sales outlets in banks, exchange companies and mediation companies to buy and sell foreign currencies authorized to buy the dollar at the specified official rate."

The bank noted that “the sale of the dollar will take place according to the instructions and controls of the Central Bank of Iraq,” stressing that “in the event that any of the banks or companies refuse to sell at the official price, call the numbers (07809224663) or (07853330555) to file a complaint against the party that refuses.” about it.”

He pointed out, "The outlets of banks for the sale of foreign currency continue to work by selling the dollar in accordance with the instructions and controls of the Central Bank of Iraq, which launched earlier a package of measures that contribute to the stability of the foreign currency market."

https://www.radionawa.com/all-detail.aspx?jimare=33424

The Central Bank Warns Against Dealing With (Fake) Applications And Platforms

Economie| 11:30 - 02/14/2023  Baghdad - Mawazine News  warned the Central Bank of Iraq, on Tuesday, against dealing with fake platforms that expose citizens to fraud.

In a statement received by Mawazine News, the bank said, "We warn against dealing with applications, websites, and platforms that engage in betting and trade in money, using the name and logo of the Central Bank of Iraq as a front for it."

The statement added, "The bank noticed the weak-minded people using its name and logo to exploit citizens in promotional matters in applications, websites, and fake platforms that adopt multiple methods and methods to mislead citizens and expose them to financial fraud."

He pointed out that "these applications, websites, and platforms are not licensed by him," warning "citizens against dealing with them."

He stressed "the importance of verifying its reliability before using it, and informing the Bank's Awareness and Banking Services Control Department when there is any suspicious case via e-mail ( banking.awareness@cbi.iq ) or by calling (07809224663)".

https://www.mawazin.net/Details.aspx?jimare=219302

American Report: The Iraqi Delegation In Washington Was Subjected To “Sharp” Pressure From The Biden Administration

Posted On2023-02-14 By Sotaliraq   2023-02-14  The American “Middle East Institute” stated that the administration of US President Joe Biden pressured the Iraqi delegation that visited Washington recently, in order to push Baghdad to reorient the Iraqi energy sector away from Iran, and to deal with accusations that its banking sector helps the Iranian regime escape from Western sanctions.

The American report indicated that the Iraqi government is in a difficult situation economically and politically, as it is facing a reaction at home due to the sharp decline in the value of the dinar in light of the increasing restrictions by the US Federal Reserve on dollar withdrawals from the Central Bank of Iraq.

The report explained; The Biden administration used the meeting held in Washington on February 9 on the “strategic framework agreement” with senior Iraqi officials, headed by Foreign Minister Fuad Hussein, to pressure Iraq to limit its economic relations with Iran.

The report recalled Hussein's statements in which he said that this meeting is the first in a series of meetings launched in 2009, which this time focused on economic issues.

And the report continued; Before his talks with Secretary of State Anthony Blinken, Hussein expressed hope that partnerships with the US government and private companies would contribute to helping Iraq develop its economy.

On the other hand, the report said that “the American side was more severe” in expressing its position, as the American secretary publicly urged Iraq to be independent in the field of electric energy, which means that the Baghdad government should find alternatives to Iranian energy imports in order to feed the energy sector. Stalled Iraqi energy.

The report pointed out that Blinken announced the United States' readiness to support efforts between the Gulf states and Jordan in order to integrate Iraq into the "regional" economy.

The report indicated that Blinken's statements came after the phone call that took place on February 2 between President Biden, the Jordanian King Abdullah II and the Iraqi Prime Minister Muhammad Shia Al-Sudani, when Biden expressed his support for joint Iraqi-Jordanian projects, including also the field of electricity transmission, and with regard to Oil pipeline (from Basra to Aqaba).

The report stated that an American delegation that visited Iraq in the past exerted the same pressure on the Iraqis to advance the implementation of these regional energy projects.

The report pointed out that, on the other hand, the most pressing issue from the Iraqi point of view was related to the measures taken by the Federal Reserve Board last November to impose restrictions on dollar transfers from the oil revenue account of the Iraqi government in New York to the Central Bank of Iraq, which are restrictions that caused In reducing dollar flows from the central bank to clients of local commercial banks who seek to transfer dollars out of Iraq, the Federal Reserve is currently scrutinizing recipients of dollar transfers to ensure that they do not violate US sanctions on Iran and Syria.

According to the report; The decline in electronic transfers from New York has caused an increase in the demand for the paper dollar and thus raised the exchange rate of the dollar inside Iraq, which resulted in an increase in the prices of imports, which sparked sharp popular resentment against the Sudanese government.

And the report continued; That the head of the Central Bank of Iraq, Ali Al-Alaq, sought during his presence in Washington within the Iraqi delegation, to promote the steps taken by the bank in order to make the banking sector in his country, committed to the new procedures with regard to the movement of funds and control of dollar transfers outside Iraq.

According to the American report, the Iraqi government was betting that Fouad Hussein and Ali Al-Alaq would be able to convince the US administration to freeze the imposition of restrictions by the Federal Reserve Board on dollar transfers to Iraq, but Washington did not make such a commitment publicly.

The report concluded by pointing out that there is pressure within the US administration and from Congress to tighten restrictions on dollar flows from Iraq, which help Iran evade sanctions.

On the other hand, the report stated that Baghdad tried to remind Washington of the difficult situation of Iraq, referring in this context to a press statement by the Iraqi Foreign Minister on February 12, that Iraq would benefit from the decrease in tensions between Washington and Tehran.  LINK

High Dollar Exchange Rates In The Local Markets

Economie| 11:54 - 02/14/2023  Baghdad - Mawazine News  Today, Tuesday, the exchange rates of the dollar witnessed a slight increase in the local stock exchange.  Selling price: 149,000 dinars per 100 dollars   Buying price: 148,500 dinars per 100 dollars  https://www.mawazin.net/Details.aspx?jimare=219305

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Tuesday Morning Iraq Economic News Highlights 2-14-23

Tuesday Morning Iraq Economic News Highlights  2-14-23

Al-Kinani: America Is Ready To Overthrow Governments In Order To Pass Its Projects And Achieve Its Interests

Today 09:32   Political analyst Hussein Al-Kinani saw that America is ready to overthrow the governments, as it did with the government of Adel Abdul-Mahdi when its interests conflicted with the government's approach to China to implement many projects inside Iraq.   Al-Kinani told Al-Maalooma, "There are economies that control and America imposes its hegemony over them and does not allow them to proceed except after its approval, especially with regard to projects inside Iraq, including European, Russian and Chinese projects."

He added, "America imposes power and control over money and places restrictions on it through the US Federal Bank, as it allows a certain amount of projects and works to finance them in accordance with what suits its policy."

And he indicated that "the American administration interferes with economic files and political decisions, as it stood against the government at the time led by Adel Abdul-Mahdi when it established a financial fund with China to implement projects in return for granting it oil and worked to bring down his government.”   LINK

The Patriotic Union Of Kurdistan.. A Continuous Effort To Implement Political Agreements And Solve Problems

Iraq   14:53 - 2023-02-14   Pavel Jalal Talabani is visiting the capital, Baghdad, to meet with the leaders of the political parties, to discuss the situation in the country and to emphasize commitment to the agreements on which the government was formed, in addition to making the constitution a basis for addressing the existing problems.

This affirmation of commitment to the agreements shown by President Pavel Jalal Talabani during all his meetings and gatherings was welcomed and supported by all political parties.

Very important agreements

The leader in the coordination framework, Aed Al-Hilali, told PUKMEDIA: The agreements under which the government was formed within the framework of the State Administration Coalition are very important.

He added: Those agreements are the basic criterion on which the parties under the framework of the State Administration Coalition are working and the government is working on it today.

Violation of agreements negatively affects the performance of the government

Aed Al-Hilali says: Violation of these agreements will negatively affect the performance of the government of Mr. Mohamed Shiaa Al-Sudani. Adding: The Sudanese government has taken very excellent steps, hence the necessity of adhering to those agreements, and violating them will lead to great embarrassment for the government.

The constitution is the criterion for solving problems.

Aed al-Hilali clarifies, saying: Everyone agrees that the constitution is the ceiling under which the political process remains. If we have problems with some articles of the constitution, this does not mean that the constitution is not suitable for running the state.

He added: We have to meet with participants who contribute to the process of accelerating the completion of constitutional entitlements and broken laws that must be speeded up in their legislation, and that we address our problems in accordance with the constitution.

Solidarity to serve citizens

Aed Al-Hilali says: The political parties can join hands and support the government and with a common vision to provide better services to citizens.

He added, "We have to go towards serving the citizens within a unified government that works to extricate Iraq from the many crises it has gone through."

The agreements are binding on the political parties.

Political analyst Watheq Al-Jabri told PUKMEDIA: The agreements on which the government was formed are very important and binding on the political parties.

He added, "The agreements that have been made, and the governmental curriculum as well, are binding on the government, including the adoption of some laws and the treatment of current crises. These agreements are for the interest of the Iraqi people."

The constitution is the fixed legal rule.

Wathiq Al-Jabri says: The constitution is the basic legal rule that everyone agrees upon, and even the political forces, when they speak, start from the articles of the constitution.

He added: The constitution is a solution to all problems, and everyone must accept any solutions based on the constitution, which is the ideal solution to all problems.

Political harmony leads to better services.

Wathiq Al-Jabri says: Political agreements and political harmony will certainly lead to accelerating the movement of the government, because some of the government's tasks are hampered by political differences.

He added: Harmony and agreement between the political forces strengthens the work of the government and works to provide the best services to citizens and change the reality of the country for the better.

The priority of the Patriotic Union is the public interest

. A representative of the Patriotic Union of Kurdistan affirms that the necessity of the Patriotic Union’s presence prompted the active political parties in Iraq to demand a permanent presence of President Pavel Jalal Talabani in Baghdad, and this influential presence of the Patriotic Union in the federal capital extends its roots to the time of the president Mam Jalal.

Gharib Ahmed, a member of the House of Representatives, told PUKMEDIA: “What is gratifying is the continuous efforts of President Pavel and his meetings with the various Iraqi factions, with the aim of implementing the government program and solving problems, and that the National Union, since the start of the current session of parliament and the negotiations to form the government, played a wise role and did not allow With more fragmentation among the political forces, as he was always ready to sacrifice even his entitlements in order to form a strong government in which the principle of partnership would be effectively reflected.

Gharib Ahmed added, "The Iraqi political parties, with all their orientations, consider the Patriotic Union of Kurdistan a difficult figure in the Iraqi political equation," noting that President Bavel confirmed more than once that the Patriotic Union would have an effective presence in Baghdad, "in order to show everyone that the Patriotic Union is ready To help carry out reforms and form a service government in which all components receive their constitutional and legal entitlements.

The deputy of the Patriotic Union of Kurdistan bloc confirmed that the efforts of the President of the Patriotic Union are not limited to Baghdad only, but that in the Kurdistan Region he is also following the approach of President Mam Jalal in bringing together all spectra, segments and political parties of different orientations and visions, "and this increases citizens' confidence in the Union more." The Patriotic Union of Kurdistan, that it will not abandon them and defend their rights, and does not look at issues from a narrow partisan point of view, but that the priority of the Patriotic Union is to achieve the public interest.    https://kirkuktv.net/AR/Details/13233

Diyala Trade Announces An Increase In Demand For The Dinar By 5% After Dollar Speculation

Today 11:05  The head of the Chambers of Commerce in Diyala, Muhammad Mulla Jawad, confirmed, on Tuesday, the increase in demand for the dinar as a result of the recent dollar crisis, indicating that citizens' dependence on the dinar increased by 5%.

Mulla Jawad said in an interview with Al-Maalouma, that "wholesale trade, especially internal trade, depends directly and mainly on the circulation of the dollar in the payment of sales, debts, and installments between merchants and companies for many years," noting that "this phenomenon, despite its many negative aspects, has become a reality in the country." trade".

He added, "The recent dollar crisis and its pressure prompted some merchants to re-adopt the dinar in paying sales and debts, down to installments, in a gesture that may expand because it is so far within the 5% range."

He pointed out that "paying internal trade entirely to the adoption of the dinar to pay sales will lead to a reduction in demand for buying the dollar by up to 50% and thus create relative stability in exchange rates and prevent speculation."

In the past weeks, the dollar market witnessed an unstable state of frequent rise and fall, which led to LINK

Parliamentary Finance: The Size Of The Budget Exceeds 200 Trillion Dinars

Economie   13:03 - 2023-02-14   A member of the Parliamentary Finance Committee, Representative Faisal Al-Naeli, revealed, on Tuesday, the size of the amounts allocated within the 2023 budget, indicating that the size of the budget exceeds 200 trillion dinars.

Al-Naeli said, in a press statement, that "the general budget for the year 2023 was prepared according to the new exchange rate" 130 "thousand dinars for every 100 dollars."

He added, "In the coming days, the preparation of the budget will be completed and sent to the House of Representatives," pointing out that "determining the price of a barrel of oil in approving the 2023 budget at about $70."

Stressing that "the size of the 2023 budget may reach 200 trillion Iraqi dinars, pending the arrival of the law to parliament."

The Al-Fateh Alliance had attributed the delay in sending the budget law to the House of Representatives to the differences between the Kurdish poles, while it was likely that the approval of the budget would be postponed until next month.     https://kirkuktv.net/AR/Details/13229

Sources reveal details of the Iraqi-American understandings regarding the dollar crisis

2023.02.14 - Baghdad - Nas  Political circles are talking about a renewable "grace period" granted by the US Treasury to Iraq regarding the circulation of the dollar, while the government denies these reports. And those circles refer to a series of understandings between Baghdad and Washington that resulted in postponing work on the American platform for a few months. 

"Nass" channel on Telegram.. our latest updates      

Al-Mada stated in a report followed by "NAS" (February 14, 2023) that among these understandings is related to the fate of the American forces, increasing the oil partnership and opening new fields within what is known as the "strategic agreement" with Washington. 

It was remarkable that the central bank's sales jumped the day before yesterday, Sunday, from the dollar to more than 300 million dollars in one day, which is the most in about 3 months, before it returned yesterday to decline again.    

The newspaper's sources said that "the Iraqi delegation to Washington was able to obtain a period of 3 months that can be extended before entering the SWIFT system (which is a global remittance system)."    

During the last grace period, the United States is supposed to monitor Iraq's commitments to control money smuggling.    

And the sources close to the coordination framework that leads the government add that "Iraq presented flexible positions regarding the oil pipeline to Aqaba, and there were previous understandings regarding stopping the bombing of the coalition forces."    

Signs of those understandings had emerged during the first call that took place more than a week ago between Prime Minister Muhammad al-Sudani and Joe Biden, the American president, in which the Jordanian King Abdullah II later participated.    

The sources indicated that Iraq "faces two problems: smuggling the dollar and attempts to smuggle stolen Iraqi money abroad to be used later in money laundering operations."    

Iraq pledged during the delegation's visit, according to the sources, to address these problems, while it will gradually enter the "Swift" system, which needs infrastructure and training.    

During the meeting of the Iraqi-American delegation, documents from the US Congress were leaked warning the Washington government against dollar laundering in Iran through Iraqi leaders and senior officials in the financial system.    

In turn, Mazhar Muhammad Salih, the financial advisor to the government, denies "the existence of an extension of the American procedures regarding the circulation of the dollar."

Salih said in a press interview, "Iraq is 100% committed to these conditions, and we have no other solution than commitment and intensification of dialogues."

Regarding the increase in the central bank's sales on Sunday, the Sudanese advisor said it was "due to the accumulation of dollar demand and banks' improvement of their data."

Regarding the summary of the Iraqi delegation's meeting in Washington last week, Saleh asserts that "Baghdad will continue to reach understandings and open other aspects of the strategic framework agreement with Washington."

The government's policy, led by the coordination framework, towards the United States was the least conservative in the past three years, according to observers' description.

Since the government took over, operations targeting the US embassy and camps, which have recorded 120 attacks with 300 missiles in the last three years, have suddenly stopped.

Yesterday, Muhammad al-Najjar, the government advisor for investment affairs, said that Iraq would activate "7 inactive items in the strategic agreement" with the United States.

Al-Najjar said in a statement to state television that the delegation's recent visit to Washington "aims to lay new foundations for cooperation with the United States," noting that "one part of the strategic agreement between Iraq and the United States is activated, which is the security, intelligence and military part."

He added, "The situation in Iraq has changed, and Prime Minister Muhammad Shia' al-Sudani sought to activate most parts of the agreement in order for it to be a new starting point for cooperation between the two countries."

Al-Najjar said that the agreement with Washington is not only in the security and military aspects, but there are aspects in education, culture, trade and the introduction of "modern technology (...) through the aircraft industry, the agricultural field and food security." https://www.nasnews.com/view.php?cat=102029

Finance Is Close To Finalizing The Formulation Of The Budget, And There Are Warnings Of Delaying Its Passage

Posted On2023-02-14 By Sotaliraq  Finance Minister Taif Sami announced, yesterday, Monday, that the ministry is in the process of finalizing work on the federal budget for the current year, while she indicated that the problem of the high price of the dollar was remedied by governmental and popular will. Sami said in her speech at the Seventh Arab Finance Forum, which opened its business in the UAE capital, Abu Dhabi, followed by (Al-Mada), “We sought to pass the food security, development and financial hedging law in the amount of (25) trillion dinars in order to alleviate poverty, achieve financial stability and continue to provide services to citizens ".

Sami added, "The Iraqi government has faced the Corona epidemic by taking several immediate measures to limit its spread through national, mobilization, health and social policies that focused on marginalized social groups and facilitated access to health services and social care, which added these immediate and precautionary measures heavy financial burdens on public money."

She pointed out that "the Iraqi economy suffers from chronic structural problems, as the rentier nature is still mostly on it, and its recovery depends on oil prices in the global market, which puts the government and its economic and financial institutions on alert to overcome challenges and crises."

Sami pointed out, "The Iraqi government, headed by Prime Minister Muhammad Shia'a al-Sudani, has adopted an ambitious program on the economic and financial level. During a period of several months, its positive indicators appeared on the life of society and the institutional structure of the state to achieve financial sustainability."

And she stated: “We are on the verge of ending work with the federal budget for the year 2023, moving towards comprehensive economic reforms in the Iraqi economy, and developing a clear strategy to diversify its economy, raise its revenues, and push development forward.”

Sami explained, "The Iraqi government appreciates the tireless efforts and keenness to enhance economic cooperation between Arab countries and coordinate with partners to serve the economies and investments of those countries." And she continued, "International relations are based on balance and broadening the base of interests to serve the goals of economic and financial development in the Arab countries."

Sami warned, to "the challenges that the world faces from the effects of climate change, which have become more dramatic and their repercussions on peoples, which makes it imperative for Arab countries to increase financing, cooperation and investment that help mitigate the effects of climate change."

Sami expressed "the Iraqi government's high confidence that the annual financial forum is an important factor in transferring successful Arab and international ideas and experiences, and the lessons it offers from the sustainable development goals for the year 2030 that raise the level of the Arab reality, which is exposed to very serious challenges."

It is worth noting that the Seventh Arab Finance Forum was organized by the Arab Monetary Fund in cooperation with the International Monetary Fund, with the participation of Arab ministries of finance, governors of central banks and Arab monetary institutions, as well as a number of heads and senior officials and experts from international and regional financial institutions.

And a member of the Parliamentary Finance Committee, Nermin Maarouf, warned against “delaying the approval of the budget, while she called on the Prime Minister to hold an urgent joint meeting between the Finance Committee and the Council of Ministers, including the Minister of Finance, to solve and overcome all problems in the budget law in order to ensure that it is passed urgently within the appropriate period to ensure its implementation and to achieve the aspirations and rights of the Iraqi people of all sects.”

Maarouf explained that “her invitation to hold this meeting comes due to the sensitive and influential circumstances and crises taking place in Iraq and the region in order to fully discuss the budget with the Parliamentary Finance Committee in order to present observations and proposals of the House of Representatives on the budget and its amendment by the government before voting on it in the Council of Ministers.”

And she emphasized that “it will ensure that the budget is not re-balanced. By the House of Representatives to the government and thus speed up the vote on it in the House of Representatives and publish it in the official newspaper and issue instructions for its implementation and circulation to the ministries and government agencies and bodies associated with them.

And Maarouf stressed, “The budget includes the rights and entitlements of all segments of society, which are suspended, most of them due to the delay in sending the budget to the House of Representatives.”

Maarouf went on to say that there is no longer enough time and that next month is the last month to approve and legislate the budget law within the timelines in order to provide the appropriate time to implement its clauses and paragraphs without delay and delay, and thus return most of its sums to the state treasury. The committee confirmed that the budget deficit after reducing the exchange rate of the dollar will be about 35 trillion Iraqi dinars.  LINK

"Tidbits From TNT" Tuesday Morning 2-14-2023

TNT:

Tishwash:  Sale of precious gifts in flower shops in Kurdistan on Valentine's Day

Adornment and flower shops in the governorates of Erbil and Sulaymaniyah revealed that they sold precious bouquets, the price of which is about $6,500, wrapped in ornaments and jewels, the value of which amounts to about $50,000.  

According to the filmed reports in Erbil and Sulaymaniyah, which were followed by "NAS" (February 14, 2023), adornment and gift shops monitored remarkable cases presented by husbands and men to their wives and sweethearts, including putting title deeds for homes and lands inside precious bouquets and roses, the value of which amounts to more than $50,000. Erbil today.  

Shops in Sulaymaniyah stated that they sold bouquets of roses worth 6,500 dollars, and the buyer placed a gold band in them, valued at 45,000 dollars, on the occasion of "Valentine's Day."  

And the fourteenth of February is an annual occasion in which loved ones and friends exchange bouquets of red roses and pink greeting cards, so that this day is an unofficial feast in which feelings of love flow in different ways.  

The origins of Valentine's Day are unknown, but the celebration of February 14 dates back to ancient times. It was named after a number of different saints whose names were all "Valentine". Over time, this day has become an annual tradition that varies from country to country.   link

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CandyKissses:  Gold prices rise as dollar falls

Economy News _ Baghdad

Gold prices rose on Tuesday, with the dollar falling ahead of inflation data.

By 04:15 GMT, spot gold was up 2.5 percent at $1855,59.0 an ounce, and U.S. gold futures were up 29.1867 percent at $59,<>.<>.

The dollar remained lower ahead of U.S. inflation data after losing 0.3% against its key peers in the previous session.

Two-year Treasury yields also retreated from three-month highs to hover at 4.51%, compared to the previous close of 4.53%.

Among other precious metals, spot silver rose 0.108 percent to $21.96 an ounce, platinum fell 0.08 percent to $959.60 and palladium rose 0.05 percent to $1550,78.<>.

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Tishwash:  Parliamentary Finance: Budget funds will exceed 200 trillion dinars

Member of the Parliamentary Finance Committee, Representative Faisal Al-Naili, revealed, on Tuesday, the size of the amounts allocated within the 2023 budget, indicating that the size of the budget exceeds 200 trillion dinars. 

Al-Naeli said, in a statement to Al-Maalouma, that "the general budget for the year 2023 was prepared according to the new exchange rate of 130 thousand dinars for every 100 dollars." 

He added, "In the coming days, the preparation of the budget will be completed and sent to the House of Representatives," pointing out that "determining the price of a barrel of oil in approving the 2023 budget at about $70." 

Stressing that "the size of the 2023 budget may reach 200 trillion Iraqi dinars, 
The Al-Fatah Alliance had attributed the delay in sending the budget law to the House of Representatives to the differences between the Kurdish poles, while it was likely that the approval of the budget would be postponed until next month.    link

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Tishwash:  Parliamentary wealth: All roads are open to passing the oil law in parliament

A member of the Oil, Gas and Natural Resources Committee, Kazem Al-Tooki, revealed that there are parliamentary efforts to pass the oil and gas law soon, indicating that all roads are clear towards passing the law.

Al-Touki said in a statement to Al-Maalouma, that "the political situation that the country is going through is ready to accelerate the oil and gas law and all controversial laws." 

He added that "the legislation of the law will serve the oil-producing provinces," noting that "the legislation of the law is among the priorities of the government program and the political agreement within the State Administration Coalition." 

Stressing that "the legislation of the law during the current session will be a radical solution to the dispute over oil wealth," and added that "there are efforts to pass the law in the dome of Parliament." 

The Al-Fatah Parliamentary bloc had suggested, earlier, that the oil and gas law be approved during the current session due to the presence of the political will of all forces, including the Kurdish forces, stressing that the recent meeting of the state administration forces seriously discussed the issue in order to approve it in the current session    link

Mot:  ... Say! - Do Women Ever ~~~listen to man

Iraqi News Highlights Monday Evening 2-13-23

Iraqi News Highlights Monday Evening 2-13-23

Tlm724 Administrator Bondlady’s Corner

Fuad Hussein From Washington: The Currency Crisis Is Gradually Receding, And Iraq Is Becoming Aware Of It

  Money and business   Economy News _ Baghdad  Fuad Hussein, Deputy Prime Minister and Minister of Foreign Affairs, on Monday, expressed optimism that the Iraqi currency crisis that prompted him to visit Washington appears to be receding, after the recent central bank raised the value of the currency, and after his meetings here with treasury officials.

Hussein said in statements to Al-Monitor, followed by Al-Iqtisad News, that there is already a system in place between the Central Bank of Iraq and the US treasury, but it is new, and the Iraqi parties have become more familiar with the mechanism.

He added, "Iraq also benefits from large currency reserves and relatively high oil prices." "There are also positive results from the recent shifts made by the Central Bank of Iraq in monetary policy. So I think this crisis is gradually receding."   https://economy-news.net/content.php?id=32449

Finance: The Problem Of The High Price Of The Dollar Was Remedied By Governmental And Popular Will

Political | 03:12 - 02/13/2023   Baghdad - Mawazine News,  Minister of Finance, Taif Sami, announced, on Monday, that the ministry is in the process of finalizing work on the federal budget for the current year, while indicating that the problem of the high price of the dollar was remedied by governmental and popular will.

Sami said in her speech at the Seventh Arab Finance Forum, which opened its business in the UAE capital, Abu Dhabi, and was followed by Mawazine News: “We sought to pass the food security, development and financial hedging law at an amount of (25) trillion dinars in order to alleviate poverty, achieve financial stability and continue to provide services to citizens. ",

Indicating that" the Iraqi government has confronted the Corona epidemic by taking several immediate measures to limit its spread through national, mobilizing, health and social policies that focused on marginalized social groups and facilitated access to health services and social care, which added these immediate and precautionary measures heavy financial burdens on public money. ".

She added, "The Iraqi economy suffers from chronic structural problems, as the spring character is still mostly on it, and its recovery depends on oil prices in the global market, which puts the government and its economic and financial institutions on alert to overcome challenges and crises,"

noting that "the adoption of the Iraqi government headed by a president The Council of Ministers, Mohamed Shia Al-Sudani, launched an ambitious program on the economic and financial level, and over a period of several months, its positive indicators appeared on the life of society and the institutional structure of the state to achieve financial sustainability.

And she stated: "We are on the verge of ending work with the federal budget for the year 2023 and moving towards comprehensive economic reforms in the Iraqi economy and setting a clear strategy to diversify its economy, raise its revenues and push development forward,"

pointing out that "the Iraqi government appreciates the unremitting efforts and keenness to strengthen economic cooperation between Arab countries." And coordination with partners to serve the economies and investments of those countries.

And she continued, "International relations are based on balance and expanding the base of interests to serve the goals of economic and financial development in the Arab countries," pointing to "the challenges that the world faces from the effects of climate change, which have become more dramatic and their repercussions on peoples, which makes it imperative for Arab countries to increase financing, cooperation and income." investments that help mitigate the effects of climate change.

Sami expressed "the Iraqi government's high confidence that the annual financial forum is an important factor in transferring successful Arab and international ideas and experiences and the lessons it offers from the sustainable development goals for the year 2030 that raise the level of the Arab reality, which is exposed to very serious challenges."

It is worth noting that the Seventh Arab Finance Forum was organized by the Arab Monetary Fund in cooperation with the International Monetary Fund and with the participation of Arab ministries of finance, governors of central banks and Arab monetary institutions, as well as a number of heads and senior officials and experts from international and regional financial institutions. Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=219225

Learn About The Exchange Rates Of The Dollar Against The Dinar

Economie| 10:43 - 02/13/2023  Baghdad - Mawazine News  Today, Monday, the exchange rates of the dollar are stable on the local stock exchange.  Selling price: 147,000 dinars per 100 dollars. Buying price: 146,500 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=219189

The Ministry Of The Interior Takes Proactive Measures To Control Prices With The Advent Of The Month Of Ramadan

Economie| 01:49 - 02/13/2023   Baghdad - Mawazine News   The Ministry of Interior announced, on Monday, that it had taken proactive measures to control prices with the approaching month of Ramadan.

"Some people take advantage of any opportunity or crisis in order to raise prices and exploit citizens to profit illegally and without right," said the ministry's spokesman, Major General Khaled al-Muhanna, in an interview with the official news agency, followed by Mawazine News.

He added, "One of the duties of the Ministry of Interior and the Anti-Organized Crime Directorate is to combat monopoly, price manipulation and speculation," noting that "the economic crime detachments are active at such times to track down and arrest those found guilty of such kind of practices." Ended 29/N33    https://www.mawazin.net/Details.aspx?jimare=219210

Oil Prices Are Falling Amid Demand Concerns

Economie| 08:37 - 02/13/2023   Follow-up - Mawazine News  Oil prices fell on Monday, after rising 2% in the previous session, as investors ignored the impact of Russian production cuts, and focused instead on short-term demand concerns stemming from refinery maintenance in Asia and the United States.

Brent crude futures were down 69 cents, or 0.8%, at $85.70 a barrel by 0420 GMT, after rising 2.2% on Friday.    US West Texas Intermediate crude was at $79.04 a barrel, down 68 cents, or 0.9%, after rising 2.1% in the previous session.   https://www.mawazin.net/Details.aspx?jimare=219178

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