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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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    Iraq: Investment opportunities await pledges from Kuwait donors conference

    Rocky
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    Iraq: Investment opportunities await pledges from Kuwait donors conference Empty Iraq: Investment opportunities await pledges from Kuwait donors conference

    Post by Rocky Thu 05 Apr 2018, 9:04 am

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    Iraq: Investment opportunities await pledges from Kuwait donors conference
    The pledges made at the Iraq Reconstruction Conference, hosted by the State of Kuwait, amounted to $ 30 billion, provided by 76 countries and regional, international and local organizations.
    Kuwait said it would provide $ 2 billion in loans and investments to contribute to reconstruction efforts.
    Turkey announced that it will allocate five billion dollars to Iraq in the form of loans and investments, on the third and final day of the Iraq reconstruction conference in Kuwait, while Saudi Arabia allocated $ 1 billion for investment projects in Iraq, and $ 500 million additional to support Iraqi exports, while Qatar said it will allocate Billion dollars in loans and investments.
    US Secretary of State Rex Tillerson announced the signing of an agreement between the US Foreign Trade Bank and Iraq to grant loans worth about three billion dollars.
    "The loans of the Kuwait conference are not dangerous," Salem al-Bayati, an economist, said, stressing that the benefits would be relative.
    Al-Bayati said in a statement to «Journal News», "that" Iraq and in the financial crisis can not make any project, especially with regard to vital projects, "pointing out that" Iraq resorted to the loans not in this year, but for the past two years because of the large budget deficit Measures to reduce the oil-based rent economy ".
    He added that "the loans that were prepared at the Kuwait Conference, some of them are classified as sovereign and what is meant by the sovereign is that it is given by a state and not by a bank or a private financial institution, in addition to the existence of loans and interest rates are not harmful if they are used optimally in the implementation of projects Such as construction of a hospital, bridges, water and electricity projects, etc. "
    "The fear of loans is possible if it is not exploited optimally and it has been spent on strict procedures. This should be under international supervision, especially since Iraqi institutions are not trustworthy in the face of countries and international organizations," he said.
    The economic expert said that "some investors are reluctant to invest in Iraq, describing it as a personal matter belonging to the company concerned, stressing that the countries that have pledged to reconstruction are still in agreement and waiting for the right time to start the reconstruction, not noting that the pledges of countries participating in the Kuwait Conference for the reconstruction of Iraq Which reached 30 billion dollars, and this aid will be in the form of loans and credit facilities and investments to Iraq to rebuild what was destroyed by the war.
    "At the donor conference held in Kuwait, the government received amounts in the form of investments and loans," said economist Zakri Yahya.
    Yahya said in a statement to the "Journal" that "the loans will weigh heavily on the state budget," pointing out that investment in Iraq suffers from a long period of inability to attract foreign investment to inside Iraq, and this is a good opportunity to start them.
    He explained that "the party that expressed willingness to invest in Iraq is to determine where to invest and that the reluctance of some investors lies on the poor marketing of the Iraqi government on the possibility of creating an attractive investment environment and the inability of the government to stabilize the security situation in the country."
    Yahya pointed out that "the government has obtained sovereign loans of $ 15.5 billion, through (1 billion dollars Kuwait, 5 billion dollars Turkey, 1 billion Saudi dollars, 1 billion dollars Qatar, 250 million dollars UAE, 1.5 billion dollars Arab Social Fund , $ 500 million in Islamic Development Bank, $ 260 million in Italy, $ 6 billion in the World Bank), non-sovereign loans, financing and project guarantees of $ 11.61 billion, through $ 1 billion Kuwait, 0.5 reconstruction exports from Saudi Arabia, $ 5,200 billion UAE, US $ 210 million, US $ 3.5 billion, and US $ 1.2 billion Billion dollars Japan) ".
    A source in the National Investment Authority, a great disdain for investors who expressed their desire to enter the Iraqi market during the Kuwait International Conference.
    The source said that "the number of investors who will attend the meeting of the Commission them in Baghdad would be appropriate, but the disqualification of about two thousand investors recorded imbalance in the media propaganda of the Iraqi market," noting that "some investors preferred to invest in Egypt on Iraq, although Iraq is a country Promising for the world. "
    He added that "the attendees at the Kuwait conference was 2500 investors, including the major international companies specialized, while those who will be in Baghdad does not exceed the number of 500 investors and companies, not including those known companies that Iraq was counting on the entry.
    The source pointed out that "the Iraqi media failed again in the marketing of investment for those companies, as well as the lack of credibility in dealing with what is traded in the conference, for the opening of a single window that facilitates the arrival of the investor, but investors discovered that it does not work, The credibility of Iraq before them. "
    For his part, praised the spokesman for the Office of the Prime Minister, the results of the Kuwait conference, stressing that the conference has seen positive results through the desire of companies and countries to enter to invest in Iraq.
    Prime Minister Saad al-Hadithi said in a press statement that "the Kuwait conference witnessed positive results through the desire of companies and countries to enter to invest in Iraq," noting that "there are credit guarantees and financial facilities and investment support and support for exports and soft loans programs and programs will be provided to support investment efforts Reconstruction and rehabilitation and job creation in Iraq. "
    Al-Hadithi added that "the Iraqi government is keen to use these funds with the right mechanism for reconstruction and stability in liberated cities, and start rehabilitation of service projects in other provinces that lack services, and revitalize the Iraqi market and create jobs for the unemployed."
    "Reconstruction will be through coordination with financial and development funds in countries that have pledged financial assistance and grants and there is follow-up to investment and investment companies."
    He pointed out that "Iraq has presented several projects, including projects to rehabilitate the airport of Nasiriyah and Mosul and rehabilitate 3 oil refineries and a metro in Baghdad and Basra, and there are projects for fertilizers and petrochemicals, and projects in the metal and engineering industries, will be put in the coming period," stressing that "start these projects will be with the arrival of those Commitments under certain mechanisms and there will be tangible results quickly in terms of services and infrastructure. "
    Al-Hadithi said that "the amount allocated for reconstruction in the near and long term 88 billion dollars according to the needs of the government, which was placed in the field studies to rehabilitate and the amount of 88 billion dollars is a very large number," pointing out that "there is a major financial crisis surrounding most of the oil countries and thus collect Such an amount is not easy. "
    "The Iraqi government expresses its satisfaction at the participation and international support from many levels of organizations, countries and companies, indicating the high confidence in the government and attention to the stability of the Iraqi economic situation," he said.

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