[size=36]America: Iraq is heading in the wrong direction with business and there is a challenge for foreign investors[/size]
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The US ambassador in Baghdad, Matthew Toller, on Saturday, that Iraq is moving in the wrong direction with business, while pointing to a challenge to foreign investors.
"I would like to encourage our Iraqi friends as they seek to improve the overall climate for investment and ease of doing business in the energy sector," he said in a speech at the Iraq Energy Forum. As a force multiplier in efforts for Iraq. "
"The investment climate in Iraq remains a challenge for US and other international investors. The ability of companies to make a profit is a critical factor in determining their willingness to invest. The Iraqi government must recognize that without prospects for sufficient financial returns, the appetite of investors To withstand financial risks in sectors that require large capital such as the energy sector will be limited. "
`` Iraq is moving in the wrong direction in this regard, falling from 168th place in the 2018 World Bank report on ease of doing business to 171st place in the 2019 report. ''
“The World Bank identifies a number of risk factors for Iraq, including the inability of people to access credit and the lack of an effective mechanism to resolve bankruptcies. Individuals and companies to have access to electricity. "
He noted that the World Bank commends the Ministry of Electricity for the preparation of successful procedures to link individuals and companies to the supply of electricity available, but the Bank also points to many areas where Iraq can improve this service. According to the Bank, Iraq faces many shortcomings This part of the Ease of Doing Business category is undermined, as Iraq lacks an independent regulatory entity that monitors performance, reliability of electricity supply and financial deterrents aimed at reducing power outages and achieving transparency in the online system used to deliver tariffs. Rbaiah ".
"The gas in Iraq burns more than anywhere else in the world, this process is wasteful and ineffective and contrary to the self-sufficiency of energy in Iraq, this gas must be invested and processed and delivered as feedstocks to provide power stations in Iraq," Ended / 29 BC