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[size=30]Baghdad Economic Forum and the Cabinet of Ministers is considering the importance of the sovereign funds of the national economy[/size]
30/10/2017 12:26 | Number of readings: 99
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[rtl]Trend Press / Baghdad[/rtl]
[rtl]Organized the Baghdad Economic Forum in partnership with the General Secretariat of the Council of Ministers and his second workshop within Saslh workshops agreed upon between the parties), under the title "sovereign funds and their role in the development of the Iraqi economy."[/rtl]
[rtl]The General Secretariat of the Baghdad Economic Forum held in support of the steps taken by the government and the private sector to unify the visions and procedures to develop the Iraqi economy and diversify the country's sources of income to face future economic shocks.[/rtl]
[rtl]The head of the administrative body of the Baghdad Economic Forum, Fares Al-Salman, pointed out that "one of the objectives of the workshop is to develop strategic bases that serve the economic security which is part of the Iraqi national security in order to ensure the success of the sustainable development process. The workshop aims to come up with recommendations on the sovereign funds to be established, To determine their objectives and mechanisms of management and governance rationally through the benefit of the experiences of other countries preceded us in this area with the development of the national touch to suit the requirements of the Iraqi economy.[/rtl]
[rtl]He added that the working papers:[/rtl]
[rtl]1- The paper of the Prime Minister's Advisor for Financial Affairs dealt with the appearance of Mohammed Saleh under the title of "Sovereign Sovereign Fund and Economic Development Guarantees." The meaning of the Sovereign Sovereign Fund and how it is financed as a temporary sovereign fund for real investment financed from allocations of infrastructure projects in the federal budget available from the country's own resources. When withdrawing from it to extinguish the foreign loans provided by the foreign joint venture companies through the foreign government guarantee agencies and the guarantor to ensure continuous implementation and financing to start the contracting works in Iraq, Appropriate and efficient completion and continuous funding. The DSS will thus act as the guarantor and financier of infrastructure projects.[/rtl]
[rtl]2 - The paper of the head of research in the Central Bank of Iraq in the name of Abdul Hadi Hassan entitled (options available to build a sovereign fund in Iraq in the current circumstances and the prospect of its future development) presented the vision of building a sovereign fund or more and how to manage and governance and funding and obstacles that can face box . She also referred to some successful international experiences and types of assets that may be possessed by the Fund or the proposed funds with the proposal to form a working group to establish a sovereign fund with a plan to develop its capabilities in light of the experiences of other countries. .[/rtl]
[rtl]3- The paper of the former Minister of Science and Technology Raed Fahmi entitled "Sovereign Funds", which reviewed the main types of sovereign funds, their objectives, strategies, their economic role at the national level and the alleviation of the Dutch disease in countries of financial abundance. The paper forms forms of legal frameworks for the funds and their structures and management and governance as well as the risks that can be faced and the conditions of success of investment funds development within the country, and dealt with the paper pros and risks resulting from mismanagement or use of non-objectives of Tassi The paper discussed the model of the Texas School Fund, a special fund for Texas that aims to finance the construction of schools in the state. "The paper discussed the model of the French Deposit and Trust Fund, its functions and funding, and its supervisors. [/rtl]
[rtl]4- The paper of the head of the department of economics at the Faculty of Management and Economics at Mustansiriya University, Falah Hassan Thwaini, titled "Possibilities for Establishing a Sovereign Wealth Fund in Iraq." The paper referred to the experience of the Development Fund for Iraq, which was established under the UN Security Council resolution, Reviewed the sovereign wealth funds in the countries of the world and the value of their assets, and then addressed the reasons for the establishment of an Iraqi sovereign fund and the missed opportunity on Iraq not to establish such a fund when there was a financial abundance caused by high crude oil prices, and discussed the requirements of the establishment of the sovereign fund and the proposed organizational structure, Suggest a model Corporate Governance Fund to ensure the achievement of its goals and protect its assets and touched on the classification fund scenarios (Astaqrara, investment, development, Immersed).[/rtl]
[rtl]5- The paper of the Iraqi Fund for Foreign Development in the Ministry of Finance, Hussein Jaber Al-Khakani, entitled "The Role of the Iraqi Fund for Foreign Development in the Development of the Iraqi Economy", in which he reviewed the historical role of the Fund, the stages of its time and structure as well as the objectives of the Fund and its role in supporting the national economy. Process, nature and quality of assets.[/rtl]
[rtl]6 - Dean of the Faculty of Business Economics at the University of Nahrain Star Al Bayati entitled (sovereign wealth funds: successful international experiences and the possibility of benefiting from them in Iraq), which dealt with the basic idea of the basic type of sovereign funds, the international experience in the field of sovereign funds with the obligations to create a fund for wealth Sovereign in Iraq, and presented (5) types of proposed sovereign wealth funds, and recommendations adapted to the Iraqi situation.[/rtl]
[rtl]7- The research paper (the Iraqi economy and the development path under the Development Fund for Iraq) Bilateral participation between the universities of Baghdad and Mustansiriya dealt with the adoption of the idea of establishing an Iraqi sovereign wealth fund adapted to the reality of the Iraqi economy and touched on the specificity, nature and indicators of the performance of the Iraqi economy, the sectoral structure of GDP, The oil sector in the Iraqi economy, and the paper presented a strategic vision for the development of the development of Iraq's sovereign fund.[/rtl]
[rtl]In his speech, Al Salman pointed out that Iraq is characterized by abundant sources of resources and natural, financial and human resources as well as the importance of its geopolitical position in the region, which urgently requires that there be a rational management of its resources and economy, and this requires the implementation of measures to reorganize the Iraqi economy In order to promote the pillars of sustainable development to create a dynamic economy, including the establishment of a package of sovereign funds managed by good governance and transparency as well as the development and support of the Iraqi Fund for Foreign Development as one of the tools of influence of the Iraqi state to secure the vital area within the theory of the mother National Iraqi.[/rtl]
[rtl]In conclusion, I concluded the requirements of the movement to establish a package of sovereign funds and their legal frameworks and methods of governance, management and financing and the implementation of its functions and control. A joint committee of experts from the General Secretariat of the Council of Ministers and the Baghdad Economic Forum was formed to write recommendations.[/rtl]
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