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An invitation to direct investments towards the oil sector
5/29/2016 0:00
[rtl]BAGHDAD - Imad emirate
emphasized economic academic d. Rahim Hassouni of the Faculty of Administration and Economics at the University of Baghdad , the need to work according to a strategic vision and a clear long defined term to ensure optimum benefit from oil and gas revenues, by increasing production capacities and export commensurate with theabsorptive capacity of the national economy.
He said Hassouni in an interview for »Sabah» that growing reliance on these returns with each new government to make the country 's economy more distorted and one - sided ,which led to the inability of successive governments to change the rentier economy image that characterized the national economy. finance the budget and pointed out that the oil sector is vital as a result of its significant contribution in financing the state budget, so it has to be the availability of the laws and legislation complementary to theexisting laws to regulate the work of foreign investments such as oil and gas law ,environmental law, to provide an opportunity for investors, foreign and domestic, owning service activities pertaining to the manufacturing industries, stressing the need forinvestments directed towards increasing the rehabilitation of the oil sector and thetraining of its personnel and the transfer and settlement of modern techniques for this sector. possible alternatives Hassouni said , the government has adopted (integrated national strategy for energy in Iraq), and included the strategy of the current challenges facing the energy sector, and identify future vision of energy with the assessment ofenergy sources, and consideration of alternatives possible exploitation, has also identified a set of national policy objectives for the future of energy in Iraq. He said all this in order to develop oil policy and clear - cut, Tndij strategic vision for the energy path of thedevelopment of the energy sector and exploitation of oil wealth optimally control, with a long - term plan to 2030 includes all of the investment and infrastructure development in the short term, and institutional reform to achieve this vision, including the strategic all the basic components of the energy sector, of extractive and manufacturing processes crude oil , natural gas, electricity and related industries, and analysis of economic interdependence between the joint and its impact on social, economic and environmental well - being ingredients. economic growth and concluded Hassouni at the conclusion ofhis speech to say that the goal of the strategic lies in the formulation of plans that would promote the reality of the worsening of the energy sector and the development ofsources available to benefit from the full potential, any development of this sector in acoherent and cohesive, sustainable and environment - friendly to meet local energy needs, and the adoption of a national multi - faceted economic growth to improve people 's living standards and the creation of new jobs and the situation in Iraq as a majorplayer in the markets energy.[/rtl]
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