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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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    The "FDI Intelligence" report did not address investments in Iraq.. What are the reasons?

    Rocky
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    The "FDI Intelligence" report did not address investments in Iraq.. What are the reasons? Empty The "FDI Intelligence" report did not address investments in Iraq.. What are the reasons?

    Post by Rocky Sat 17 Aug 2024, 4:23 am

    [size=35][size=35]The "FDI Intelligence" report did not address investments in Iraq.. What are the reasons?[/size]
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    Alsumaria News - Economy

    The Foreign Direct Investment Report was issued by the FDI Intelligence Foundation - an institution concerned with foreign direct investments in various countries - which included a section on foreign direct investments in the Middle East and Africa region, but this report did not address investments in Iraq.


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    The head of the "Iraq Al-Mustaqbal" Foundation for Economic Studies and Consultations, Manar Al-Obaidi, said in a post on Facebook, followed by Sumaria News, that the report included a section on foreign direct investments in the Middle East and Africa region, as foreign investments in this region for the year 2023 contributed to more than 2,600 projects, an increase of 19% compared to 2022.



    According to Al-Obaidi, the value of foreign investments in these countries amounted to 249 billion US dollars out of 1.3 trillion US dollars in investments worldwide, where foreign investments were distributed according to countries as follows:
    1- United Arab Emirates 1279 projects
    2- Saudi Arabia 359 projects
    3- South Africa 145 projects
    4- Egypt 133 projects
    5- Morocco 95 projects

    While the country with the highest growth in the value of foreign investments was Saudi Arabia, where the value of foreign investments grew by 111% compared to 2022 to reach 29 billion US dollars, according to Al-Obaidi, who indicated that the most important investing countries in the Middle East and Africa region were:
    1- China with investments worth 42 billion dollars
    2- The United Kingdom with investments worth 25 billion dollars
    3- Hong Kong with investments worth 20 billion dollars
    4- The United States of America with investments worth 17 billion dollars

    The most important sectors in which investments were made are:
    1- The renewable energy sector with investments worth 100 billion dollars
    2- Minerals sector with investments worth $23 billion
    3- Oil, gas and coal sector with investments worth $20 billion

    According to Al-Obaidi, investments in Iraq were not mentioned, but according to the United Nations Development Program, Iraq witnessed an exit of foreign investments worth $5 billion during the year 2023. The lack of interest of investors in Iraq despite the availability of capabilities is due to several factors, the first of which are:
    1- The declining business environment
    2- The fragility of the economic and political situation
    3- Weak marketing and promotion of Iraq's capabilities and investment opportunities internally and externally
    4- The weakness of government institutions responsible for the foreign investment file internally and externally despite their abundance
    5- Lack of interest in private sector investments in general and foreign investments in particular, as the strategy to support foreign investments was not mentioned in the 2024-2028 development plan.

    Al-Obaidi reveals that despite the importance of foreign direct investment to Iraq due to its role in creating job opportunities, developing the private sector and transferring knowledge, the mentality of state administration is still adhering to the pastoral approach The dominant one who wants to manage all strategic institutions directly without benefiting from the experiences of others, so we need a comprehensive change in the way economic files are managed and for countries to deal with the correct cooperative approach and find a solution to the regulatory and legislative problems that have placed Iraq among the least sequential countries in the business environment report.
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