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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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    Lost $5 billion in a year.. Determining the reasons for the decline in foreign investments in Iraq

    Rocky
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    Lost $5 billion in a year.. Determining the reasons for the decline in foreign investments in Iraq Empty Lost $5 billion in a year.. Determining the reasons for the decline in foreign investments in Iraq

    Post by Rocky Sat 17 Aug 2024, 5:15 am

    Lost $5 billion in a year.. Determining the reasons for the decline in foreign investments in Iraq

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    Economy News - Baghdad
    [rtl]The head of the “Iraq Al-Mustaqbal” Foundation for Economic Studies, Munar Al-Obaidi, identified the reasons for the lack of interest of foreign investors in Iraq despite the availability of capabilities.[/rtl]
    [rtl]Al-Obaidi said in a post on Facebook, which was followed by "Al-Eqtisad News", "There are many factors that prevent foreign investors from investing in Iraq, the first of which is the declining business environment and the fragility of the economic and political situation."[/rtl]
    [rtl]He added, "Among the reasons for the decline in investment in Iraq is the weakness of marketing and promotion of Iraq's capabilities and investment opportunities internally and externally, in addition to the weakness of the government institutions responsible for the foreign investment file internally and externally, despite their large number."[/rtl]
    [rtl]Al-Obaidi explained that “the 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, which is reflected in the reality of investment in the country.”[/rtl]
    [rtl]Al-Obaidi explained that “despite the importance of foreign direct investment to Iraq, as it plays a role in creating job opportunities, developing the private sector, and transferring knowledge, the mentality of state administration is still clinging to the dominant pastoral approach that wants to manage all strategic institutions directly without benefiting from the experiences of others.”[/rtl]
    [rtl]Al-Obaidi called for “a comprehensive change in the way economic files are managed, and for countries to deal with the correct approach of cooperation and to find a solution to the regulatory and legislative problems that have placed Iraq among the least ranked countries in the business environment report.”[/rtl]
    [rtl]It is noteworthy that the Foreign Direct Investment Report issued by the FDI Intelligence Foundation, an institution concerned with foreign direct investments in various countries, was recently issued and included a section on foreign direct investments in the Middle East and Africa region.[/rtl]
    [rtl]According to the report, foreign investments in this region for the year 2023 contributed to more than 2,600 projects, an increase of 19% compared to 2022.[/rtl]
    [rtl]The value of foreign investments in these countries amounted to 249 billion US dollars out of 1.3 trillion US dollars in investments worldwide.[/rtl]
    [rtl]Foreign investments were distributed according to countries as follows: United Arab Emirates 1279 projects, Saudi Arabia 359 projects, South Africa 145 projects, Egypt 133 projects, and Morocco 95 projects.[/rtl]
    [rtl]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, reaching a value of 29 billion US dollars.[/rtl]
    [rtl]According to the report, the most important sectors in which investment was made were the renewable energy sector, with investments amounting to $100 billion, the metals sector, with investments amounting to $23 billion, and the oil, gas and coal sector, with investments amounting to $20 billion.[/rtl]
    [rtl]There was no mention, even remotely, of investments in Iraq, but according to the United Nations Development Programme, Iraq witnessed an outflow of foreign investments worth $5 billion during the year 2023.[/rtl]
    [rtl]To view the latest news, follow us on Telegram[/rtl]
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    Added 2024/08/17 - 9:44 AM
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