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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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    An American report: indications of the crowd's acceptance of Gulf investments in Iraq

    Rocky
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    An American report: indications of the crowd's acceptance of Gulf investments in Iraq Empty An American report: indications of the crowd's acceptance of Gulf investments in Iraq

    Post by Rocky Thu 13 Apr 2023, 5:55 am

    [size=30]An American report: indications of the crowd's acceptance of Gulf investments in Iraq
    [ltr]2023.04.12 - 21:17[/ltr]
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    A report by the Arab Gulf Institute in Washington, on Wednesday, highlighted the improvement of Iraq in its Arab surroundings, especially Saudi Arabia and the UAE, while Iraq's relations with its Gulf neighbors were fraught with tensions and misunderstandings over the past two decades.  
      
      
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    The report, translated by "NAS" (April 12, 2023), stated that "the countries of the Gulf Cooperation Council have recently become involved in Iraq on the economic level, as the UAE has focused in particular on infrastructure projects in Iraq.  
      
    The report of the American Institute pointed out that most of the Emirati investments were initially in the Kurdistan region, but the improved relations with Baghdad and improved security conditions encouraged the UAE to gradually expand investments to the rest of the country, as Baghdad and Abu Dhabi signed multiple agreements to enhance economic cooperation and investment in 2021 and announced The UAE said it would invest $3 billion as part of the reconstruction efforts. Moreover, the Abu Dhabi Ports Group signed a contract with the General Company for Iraqi Ports to explore investment prospects and improve cooperation in the maritime transport sectors.  
      
    The report added: In addition, Emirati energy company Masdar signed an agreement with the Iraqi Ministry of Electricity to build five solar energy projects in Iraq as part of the country's efforts to address energy shortages and climate change. These deals were followed by an agreement between the two countries to protect the investments made by both countries from any non-commercial risks, such as nationalization, confiscation of property, judicial seizure, and freezing of investments and assets, which reduces the overall risks of investments.  
      
    The report indicated that the UAE has expressed interest in supporting Iraqi agriculture and tourism. An Emirati agricultural technology company signed its first agricultural investment deal with the Kurdistan Regional Government in 2022 to help farmers use technology to increase production and efficiently manage water for irrigation.  
      
    And in February of this year, the Iraqi Oil Ministry awarded three 20-year contracts to develop oil and natural gas fields in Basra and Diyala provinces to Crescent Petroleum, an Emirati company that has long been operating in the Kurdistan region. In addition to the new opportunity to deepen economic ties, the UAE's investment in both Kurdistan and the rest of Iraq may contribute to resolving the long-running dispute between Erbil and Baghdad over oil and gas export rights.  
      
    According to the report, Crescent Petroleum is the first energy operator with stakes in the Kurdistan region that is allowed to invest in other regions of Iraq, which is an unprecedented development in relations between oil companies operating in the Kurdistan region and the Iraqi federal government, which used to be blacklisted.  
      
    The report believes that the importance of the Crescent Petroleum project in Diyala province lies in the area of ​​influence of a large division of the Iranian-backed Popular Mobilization Forces, it is also a sign that the pro-Iranian forces may finally accept Gulf Arab participation in Iraq because it serves its political interests as "by welcoming investments." Foreign, groups with ties to Tehran can refute the claims of their opponent al-Sadr that they are hindering the Iraqi economy. desired by the people.  
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