British bank calls for Korean companies to invest in Iraq being "offers huge opportunities" to them

British bank calls for Korean companies to invest in Iraq being "offers huge opportunities" to them

03/06/2014 (0:01 pm)


 Baghdad / term-Presse

Called for a British bank, on Monday, South Korean companies to "invest" in Iraq, and between that Iraq offers "huge opportunities" for companies specializing in construction and engineering projects, as expressed "readiness" to support Korean companies wishing to operate in the country, he stressed that the Iraqi government "pay towards large-scale projects "for the reconstruction of the country and is" eager "to invite foreign investors.

The executive director of the branch of the British bank Standard Chartered in Iraq, Gavin and chart, in an interview published by the newspaper Korea Herald, and briefed him (range Press), said that "the bank and within its continuing efforts to deepen relations handle trade between customers hosted today's orientation session dedicated to the business and Korean companies wishing to to invest in Iraq, "explaining that" the meeting was held in tariff South Korean capital Seoul for one day and was attended by senior representatives from the British bank's branch in Iraq, as well as banking experts participants. "

He and chart that "the seminar will provide a comprehensive view of customers from South Korea who wish to invest in the field of oil, electric power and infrastructure projects in Iraq," adding that "Iraq offers huge opportunities for international companies specialized in the field of reconstruction and engineering projects."

And the Executive Director of the Bank that "the Iraqi government, which is pushing for the implementation of reconstruction projects huge in the country, eager to invite foreign investors and that activate special laws to investing aims of which expand the budget allocated to it dramatically to provide a working environment better for foreign investors."

He explained the chart that "Based on the analytical study conducted by the British bank, it is expected to increase the rate of GDP of Iraq's oil by 6% this year and to a greater proportion up to 8.5% during the year 2015," pointing out that "the bank had begun to work in the area Middle East since 1920 and still works for more than 90 years in the region and is ready to support Korean companies wishing to invest in Iraq. "

He continued, saying that "the Standard Chartered Bank his net international experience and strong local, it is an ideal location for the processing of Korean companies wishing to operate in Iraq banking solutions adopted in accordance with international standards."

The head of the Baghdad Provincial Council Riyad dentex, has called for major Korean companies to enter Iraq and to work on the implementation of projects Baghdad province multiple multiplicity of sectors aimed at local government in Baghdad on the development and advancement. And between the head of the Baghdad Provincial Council, on the sidelines of the Conference on global projects primarily in South Korea, "The conference, which was attended by more than 500 South Korean companies and other companies from 80 countries and briefed the participants from which the volume of business expected to be implemented in Baghdad and what they can offer The local government facilities for major global companies to enter and work in the capital from Baghdad Provincial Council directives on contracts with corporate giants and sober for the implementation of its map architectural projects and services and investment. "

The dentex on "directed by the Iraqi government to attract foreign investment through what worked on the preparation of the investment law to attract investment opportunities and offers all the facilities to companies and investors in time become the Iraqi environment suitable for the work and the implementation of projects broadly and significantly after that I took criteria are applied the open market."

The Daewoo Daewoo Korean Engineering Services and Construction announced that, in the (May 19, 2015), has won a contract worth 545 000 800 thousand dollars, for the construction of the station to isolate the gas DGS in the Zubair field in southern Iraq, indicating that the production of the field will rise for the completion of the station from 195 to 850 thousand barrels per day.

The Hyundai Alavittor South Korea announced that, in the (March 5, 2014), has won the contract to supply the complex Basmajh residential "B 1,668 elevators and in payments until 2019", and the possibility of winning another contract to equip the compound last, as showed that the value of the contracts of up to 89 million dollars, "indicated that these contracts is the" largest in history "since its inception twenty years ago."

The company (Hanwha) Korean executing City Basmajh residential confirmed, 11/24/2013, that the first quarter of 2015 will see the completion of 1,400 housing units, expected to witness the 2019 termination of the entire project by 100 thousand units, while showed Integrity Commission Parliament, and there are a lot of "corruption suspicions" about the project contract, accused the government of being "implicated" the Central Bank and the Rafidain and Rasheed, where despite that "it is not right."

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