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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Six countries including Iraq signed an agreement to invest capital in the region

    Rocky
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    Six countries including Iraq signed an agreement to invest capital in the region Empty Six countries including Iraq signed an agreement to invest capital in the region

    Post by Rocky Mon 15 Jan 2018, 3:23 pm

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    Six countries including Iraq signed an agreement to invest capital in the region[/size]
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     8 hours ago



    Iraq, Jordan, Sudan, Oman, Palestine, Kuwait and Mauritania signed an agreement to invest Arab capital in the Arab countries through the participation of Iraq and experts from 12 Arab countries in the meeting of the Committee of Arab Investment Experts in Cairo to prepare the final explanatory memorandum for the agreement. 
    Within three days, participants discussed a number of explanatory notes reached, with the participation of Arab investment experts from Saudi Arabia, Jordan, Tunisia, Algeria, Sudan, Iraq, Oman, Palestine, Qatar, Kuwait, Egypt, Morocco and Yemen, and considered it an integral part of the agreement.
    The Meeting adopted 5 recommendations that would be submitted to the Economic and Social Council at its next session, contributing to the adoption of the Agreement and the Explanatory Note and the signing and ratification by States that had not yet done so. Jordan, Sudan, Oman, Palestine, Kuwait, Iraq and Mauritania signed the agreement, which was ratified by six countries - Jordan, Saudi Arabia, Oman, Palestine, Kuwait and Yemen. 
    According to the newspaper "Life", said Deputy Chairman of the Committee on Economy and Investment in charge of the investment sector in the Committee, Nora Albjari, that Iraq went during the seventies and eighties of the last century, towards foreign investment, specifically with the Arab countries, and was able to establish multiple partnerships for investment in the agricultural and industrial sectors .
    The value of these foreign investments is $ 1.5 billion, which should be matched by good annual returns since most of the projects are operational, but after 2003 there were no revenues in the country's budget. She confirmed that the committee followed the details of investments, but the ministries refrain from providing us with any details. She explained that the latest information indicates that some Arab countries began to threaten nationalization of these projects on the pretext that they have debts to Iraq. 
    And stressed that such investments, if organized carefully and away from the circle of corruption, will be very useful to Iraq, whether projects were established in Arab countries or implemented by the Arab countries in Iraq, and thus we will ensure that we have funds invested by entities able to regulate capital and management, The Treasury is making annual profits.
    The head of the Iraqi Fund for Foreign Development, Hussein Jabbar, estimated the size of the funds managed by the Fund in Arab and foreign countries by more than $ 1.5 billion. He pointed to the presence of local bodies seeking to end the work of the Fund, although it is the only external experiment that Iraq keen to make success during the decades The last four. 
    Jabbar said that the fund was established with the aim of external development lending. The idea was that the oil surplus goes to the fund and invests in simple benefits and long terms of up to 25 years, with a grace period ranging between 5 and 7 years before the initial payment. 
    He added: I gave the first loan in 1974 and the last loan in 1982, and the development of capital to 200 million dinars in a timely manner (700 million dollars), and was increased through the contributions of the Ministry of Finance in 5 other international funds, turned into the Iraqi Fund and amounted to about 750 million dollars in 1984.
    He added: an amendment was made in the decision of the Fund added to the task of following up the Iraqi investments abroad, which are companies involved by the Iraqi government represented by the Ministry of Finance and contribute to industrial and agricultural companies in a number of Arab and foreign countries. He pointed out that the contribution of the treasury and the return is directly to the Treasury. The process was entrusted to the Foreign Development Fund and continued until 1997. 
    He disclosed that the current assets of the Fund amount to about $ 1.5 billion, but the figures were not unified due to the fund's capitalization at 200 million dinars. We seek to revalue the assets and have only the proceeds from our external contributions. 
    He pointed out that the Fund's capital is still fragmented and we are in the process of limiting it. The annual profit rate is between $ 18 million and $ 20 million, while the Fund's costs with the staff exceed $ 1.8 million.






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