Calls for the investment potential of natural resources under the ground

by **Bama Diva** Tue 06 Jan 2015, 7:25 pm

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Post n°1

Calls for the investment potential of natural resources under the ground

by Bama Diva Tue 06 Jan 2015, 7:25 pm

BAGHDAD / Ghazanfar and coffee - the "long-Presse"

[ltr]At a time when the global market is witnessing a sharp decline of oil prices, experts and local officials called on the Iraqi government to take advantage of the potential of natural resources under the ground, stressing that Iraq possesses tremendous natural resources did not invest optimally.

The economist said d. Abd al-Rahim al-Tai in an interview for the "long", "The Iraqi state is moving at the present time about the activation of customs tariffs, taxes and fees Law, an important aspect for fiscal policy," noting that "the country depends on oil revenues by about 95%, the yield economy one-sided. "

He said al-Tai said, "in the event of dependence on oil revenues remained the major problems waiting for the Iraqi economy, because oil prices volatile and are not fixed, meaning that the future is not in our hands, because of our inability to oil prices control," pointing out that "the Iraqi government is working at the present time to activate the agricultural and industrial sectors, in addition to encouraging foreign investment and the private sector. "

He called Tai Iraqi government to "invest large natural resources underground, such as sulfur, mercury, uranium and the severity of the glass, and in addition to the need to invest the agricultural sector nationally and properly and not rely on foreign investment," pointing out that "agricultural initiative put forward by former Prime Minister Nuri al-Maliki did not invest the 2 billion optimally, so that they did not contribute to an increase of gross domestic product effectively. "

In the same context, a student member of the Board of Muthanna province met Alzerijaoa in an interview for the "long-Presse," the central government to "take full advantage of the raw materials in the desert of the province (South Badia) and falling in many industries, especially the cement industry," noting that "this materials will spend on the case of austerity that has experienced the province for 2015 ".

Alzerijaoa He added that "the investment in the province has prepared an investment map for the underlying metals and materials in the desert to be presented to companies wishing to work in these areas is an effective step forward towards rapid development."

For his part, Chairman of the Environment Committee in the House of al-Muthanna Hannoush said in an interview to the "long-Presse," that "the underlying metals investment in the desert Muthanna will ensure increased financial resources in the province, especially with the state of austerity towards which the state at the present time."

Hannoush and pointed out that "the provincial council will strive to overcome all obstacles that stand in the polarization of the giant companies to invest in the desert Muthanna after a joint cooperation with the Investment Authority to give them a quick action leaves of investment with rich natural resources in that region."

It is noteworthy that Iraq possesses tremendous natural resources such as uranium, mercury, sulfur, and phosphorus glass sand and other natural resources that have not invested properly until now.

Crude oil prices had fallen in the global market by 45 percent year-end 2014 the current, marked the largest annual fall since the case of 2008, the price per barrel rate currently stands at less than $ 60 compared to $ B147.50 in July 2008. "

Iraq relies on Finance's balance in general for oil and up to more than 95% as the Iraqi government announced its 2013 budget and a budget of 138 trillion dinars, which were adopted from exports increased by 2.9 million barrels at a rate of $ 90 per barrel.

They expected the oil ministry in the 21st of September 2014, the high energy of Iraqi oil exports to four million barrels per day in early 2015, with the entry of a fifth floating platform service in the port of Basra, confirmed its intention to address the "Main node" in the export of limited storage capacity, while revealed the port management, its intention to implement a new strategic project to extend the naval tube with a platform for download within the Japanese loan projects, to raise export capacity through the ports of the south.

The Minister of Oil, Adel Abdul-Mahdi in) November 25, 2014 (, said that "Iraq depends on a unilateral economic system, and this in itself is not enough for the advancement of the Iraqi economy in the presence of government spending without relying on investment and activate the private sector, as well as idle the rest of the sectors." , calling for "attention to other sectors in addition to the oil sector." He noted that "the budget of the country is completely dependent on what we export of oil," stressing that "to continue on that pace is a case of unhealthy and policy lacks wisdom," pointing out that "in light of Iraq civilized seek entry into a row of developed countries, we must rely on the sectors in addition to the oil sector. "

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Last edited by Bama Diva on Tue 06 Jan 2015, 7:28 pm; edited 2 times in total (Reason for editing : formatting)