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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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    A British magazine monitors the demand for foreign investment in Iraq: $24 billion in nine months

    Rocky
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    A British magazine monitors the demand for foreign investment in Iraq: $24 billion in nine months Empty A British magazine monitors the demand for foreign investment in Iraq: $24 billion in nine months

    Post by Rocky Thu 14 Dec 2023, 6:46 am

    [size=38]A British magazine monitors the demand for foreign investment in Iraq: $24 billion in nine months[/size]


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    December 14, 2023[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: The British magazine fDi Intelligence, which specializes in reports and classifications of foreign direct investment, said that investment helps the renaissance of Iraq, noting that foreign investment during the first nine months of this year amounted to 24 billion dollars.
    A report translated by Al-Masala stated that twenty years after the start of the Iraq War, the country is on the path to finding its place on the global investment map after the economic and social infrastructure was severely damaged by the US-led invasion in 2003.
    Since the government of Muhammad Shiaa al-Sudani took power, investors have begun to look beyond the country's conflict-filled history. Data issued by foreign direct investment markets show that inward foreign direct investment during the first nine months of this year reached a record $24 billion.
    The report added that Sudanese pursued, in its first year, a strong development agenda aimed at improving energy security, diversifying the economy, increasing the role of the private sector in key areas such as natural gas and manufacturing, and tackling corruption.
    In January, after observing the government's decisive stance during the first months, Siemens Energy pushed for an agreement to continue its work in Iraq's energy infrastructure. If you are looking to invest in the country, there has already been a change, says Dietmar Siersdorfer, Managing Director of the company in the Middle East, the government is much more willing to move things forward.
    Last February, Crescent Petroleum, based in the United Arab Emirates, signed 20-year contracts to develop three oil and gas fields, according to which the group’s initial investment will reach one billion dollars.
    CEO Majid Jaafar says that operators in Iraq are accustomed to receiving fixed fees per barrel, but this latest round of contracts depends on the revenue-sharing agreement, adding: There is a much better consensus between the investor and the government.. The government has realized the need to maintain private investment. In key sectors.
    Iraq is currently reintegrating itself into the international arena, and UNCTAD is helping to revitalize its stalled accession to the World Trade Organization, while in November it became a member of the European Bank for Reconstruction and Development.
    There has been interest among the GCC countries to re-invite Iraq into the regional economy, says Auke Lootsma, UNDP Resident Representative in Iraq, noting that being sandwiched between Syria and Iran means it is seen as a stabilizing factor.
    According to the report, Iraq is the first country outside the Gulf Cooperation Council to be connected to the group’s electricity network, while the Qatari consortium Power International Holding and its subsidiaries announced this year various projects worth $9.5 billion, including two power generation plants and a tourist complex in Baghdad.
    The Sudanese and the Turkish government are seeking to implement ambitious plans to connect their countries through a $17 billion road and railway project called the Development Road, which will link the Al-Faw port under construction in Basra to Europe.
    Meanwhile, a recently signed public-private partnership between the International Finance Corporation (IFC) and the government plans to modernize Baghdad Airport.
    Of great symbolic value is the long-awaited agreement in April between the government and France's Total Energy on a $27 billion integrated gas growth project, which aims to improve and decarbonise Iraq's electricity supply.
    Translated by Muhammad Al-Khafaji
    Source (http://tinyurl.com/mwhjs5b7)
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