The parliamentary economy: Daeko, a slow-moving company in Baghdad, is a waste of public money
11:10 - 05/07/2019
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The UAE's economy and investment committee confirmed on Friday that Daeco, a UAE company, is lagging behind in its work, and the Investment Authority's award of contracts in the vicinity of Baghdad airport is a waste of public money, indicating that the company has lost its global shares and suffers bankruptcy.
"The area of 106 thousand acres has been transferred to the National Investment Commission for the construction of a new city in Baghdad, but the subject is tainted by some suspicions, especially that there are large numbers of houses, farms and agricultural contracts valid to Today, as it should not be near or withdrawn from the owners, in addition to the existence of presidential palaces may be tourist facilities.
He added that "the Ministry of Finance has transferred 16 thousand acres to the Investment Authority, where the Authority handed over 4,000 acres to the company Daiku UAE, which is one of the companies in [You must be registered and logged in to see this link.]
and owned by the UAE businessman (Hussein al-Sajwani)."
He explained that "Daeco Telecom company in its work, especially after noting that in the central markets that have been converted to that company, which has been made any achievement in this area."
He said that the Investment Authority claimed that Daeco will develop the land and then be transferred to the private sector for the purpose of investment, but that the company mentioned in its work and can not succeed in another job after its previous work.
"The company has lost its shares in the global market and is suffering bankruptcy, so granting business to that company is unconstitutional and should rely on firm companies and the dissolution of the contract with Daeco as waste of public money and disruption of investment."
He pointed out that "there is a political movement and an objection within the parliament and the Presidency to stop these investment work, and the exclusion of investment from land owned by citizens, and the exploitation of empty spaces in such projects." End 25 n