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[ltr]Corruption, bureaucracy and armed practices threaten 157 Iraqi projects at the donor conference[/ltr]
[ltr][You must be registered and logged in to see this image.]BAGHDAD, Feb 10 (Reuters) - Experts and observers have warned of the negative effects of corruption, the hegemony of bureaucracy and the practices of armed groups outside the law on 157 Iraqi projects to be presented at a donor conference on Monday
The website of "berth 22" in a report published on Saturday, said that foreign investment companies will try to win the satisfaction of political parties to distance themselves from extortion, and not seek opportunities for investment as expected, while pointing out that Iraq will receive 10 billion dollars during the conference on Highest rating.
"A few days ago, Iraqi Prime Minister Haider al-Abadi appeared at his weekly press conference and warned before the Kuwait Conference on Iraq Reconstruction that corruption and rampant bureaucracy threatened to keep investors out of the country."
He added that "Iraq will organize in cooperation with Kuwait, the World Bank and the European Union a reconstruction conference for Iraq between February 12 and 14, with the participation of 70 countries, including America, Britain, Saudi Arabia and Iran."
The site said that "Iraq will put 157 projects to investors distributed to all provinces, except the provinces of the Kurdistan region, and include nine sectors, notably industry, agriculture, health, education, transport, tourism and housing.
According to the report, the conference was organized for three days. The first was held by the NGO Conference in Support of the Humanitarian Situation in Iraq, with the participation of 70 humanitarian organizations. The second is for companies and investors under the title Invest in Iraq, with the participation of 1850 companies. The third and final conference of heads of delegations and participating countries will be held. "
"If the Iraqi economy is counting on the second day of the conference, the rampant corruption, bureaucracy and armed groups' practices create a very bad investment environment, as if sending a message to investors that they do not invest in Iraq," he said.
The report said that "the share of the liberated areas of the organization is encouraging 27 investment opportunities, representing 17% of the total opportunities.
Most of Iraq's debts are expected to become investments,
As is the case with the Kuwaiti side, which will invest in the production of gas from the oil fields in Basra. "
The Iraqi government announced that "Iraq today is ready to receive large companies wishing to finance strategic projects and small through the amended investment law that facilitates the work of investors."
The website quoted government spokesman Saad al-Hadithi as saying that "Iraq defended the world by expelling an oppressive organization from its territory and that the Kuwait conference is a gateway to the reconstruction of liberated areas and the rest of the regions in general." He pointed out that "the participation of international companies in the conference shows their desire to
Work within the country ".
He pointed out that "many international companies are operating today inside Iraq without any problems, and the government facilitates the work of investors through streamlining the measures taken by the Investment Authority, and called the window one."
Al-Hadithi stressed that "the most important element of attraction for investors is currently available in Iraq, which is security and therefore we are the industry, agriculture, education, health and others." He pointed out that "the World Bank will be a guarantor of Iraq. We rely heavily on the Kuwait conference in developing the country's infrastructure in various sectors
In front of international companies wishing to invest in the country. "
He continued, "The government expects that the participation of investment companies large in the conference to work within Iraq, and that the government is ready to provide an environment suitable for investors."
"The World Bank ranked Iraq 168th in the world out of 190 countries in its assessment of the business environment for 2017, confirming that the country is not the ideal environment for foreign investors who face major challenges, led by bureaucracy and corruption," the report said.
Timing is inappropriate?
Iraqi economist Abdul Rahman al-Mashhadani, a member of the Iraqi delegation to the Kuwait conference, said that the Kuwait conference was not timely because Iraq did not give investors assurances to provide the ideal environment to help them get their jobs done.
"The bureaucracy and financial and administrative corruption rampant in the government are factors that attract investors, not factors of strength to attract them," Mashhadani was quoted as saying.
He added that "many investors have been blackmailed through armed groups deployed throughout Iraq through the abduction of employees and the imposition of royalties on them and did not put the state limit," explaining that "the investor needs to amend several laws and prevent interference tribal and partisan
Affairs ".
Mashhadani said that "the Kuwait conference will be just an economic demonstration and the exchange of meetings between Iraqis and foreigners can not be guaranteed access to large funds for the reconstruction of the regions," and expected Iraq to receive an amount of not more than 10 billion dollars in the form of grants and aid and investment.
Weak law
Political and economic researcher Starr Al-Rubaie expressed his pessimism about the large obstacles that have been put in front of investors during the current and past periods.
Al-Rubaie said that "the Kuwait conference is held in difficult circumstances in Iraq is the spread of corruption and increased bureaucracy in state institutions, and the investor needs more than a year to obtain approvals to work inside Iraq and then needs to convince parties and militias
And tribesmen to facilitate his work. "
He pointed out that "Iraq is ahead of elections and therefore parties will need large funds to promote and electoral propaganda, which will push them to blackmail investors to get what they need in exchange for facilitating their tasks or control the financial grants that will be given by countries to restore stability in the provinces
Edited ".
He concluded by saying that "the investor when he comes to Iraq must be a follower of a political policy to defend and protect him from other political parties," noting that "the global companies have research centers and know the reality of Iraq and therefore its participation in the conference is not to obtain investment in Iraq But to please their governments. " Finished (1)
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