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Migration investment due to the economic crisis in Kurdistan
29/12/2016 0:00
[rtl] Dohuk / Ayad Berwari
caused the economic crisis in Kurdistan losses in the investment sector worth billions of dollars, according to statistics of the investment in the region has dozens of investment projects in the residential sector stopped, the environment is unstable for investment in the region has led many investors and traders to go for investment outside the region and even Iraq poses a threat to the reality of investment and the economy of the region in general.
Dr. range Mahamat Nouri , an assistant professor in the College of Business and Economics at the University of Nowruz said «morning» that authorized capital is inherently looking for a safe and stable environment economically, explaining that draws a number of local investors in the Kurdistan region to establish investment projects outside the region and Iraq is not due to the status of the situation region, but due to some other reasons , including situations in which both Iraq and Turkey, Syria experienced in general.
Poor liquidity
and continued Nuri said the sharp rise of the dollar exchange rate by 30 percent compared with other currencies open the door for local investors to look for investment of their money outside Krdstan.ranj province « He pointed out that the lack of liquidity is another reason to invest outside the region, noting that all the exchange process occurs not matched by the process of getting the money. » And on that should be followed in order mechanisms investors returned to invest in the province, Dr. range goes on to say that all of these mechanisms are not , however , the Kurdistan Regional Government, as it controls the events in the neighboring region of Kurdistan ocean so before everything.
He pointed out that it requires editing city of Mosul entirely of «Daesh» terrorist and security and stability in Syria and the improvement of the situation in Turkey, then the situation improves in Iraq , including Kurdistan region, then comes the role of the provincial government to take adequate procedures and mechanisms in the reconstruction of these investors and their investments.
OPEC agreement
Nouri pointed to the importance of the agreement reached by the Organization of «OPEC» with Rossiabhon reduce its oil production , which is expected to come into effect early in 2017, and positively impact the economy in the OECD countries and in particular the Iraqi economy.
He said «This will have a role in the agreement to increase crude oil prices in world oil markets and therefore will have a positive impact on the flow of money to the states« OPEC », including Iraq, and find some kind of liquidity in both the government and citizens.
The Nuri: to restore the situation to what it used to require that the price of a barrel of oil to $ 70 for a year with the dollar 's decline, as this will create the kind of economic balance and therefore the return of stability to the movement of the market as well ».
Nuri pointed out that the provincial government can not find a quick and effective solutions to the economic crisis afflicting the region, which dramatically affected in certain categories, including the staff , in particular, which are paid their salaries by half, as well as the delay in pay, attributed largely to the provincial government to buy arms in the war being waged against the province «Daesh» terrorist and many other expenses in this war and that drains a lot of money in the region.
For his part , attributed the spokesman for the Union of investors in the Kurdistan region, the investment sector has fallen significantly to the economic and political situation prevailing there. Stressing that the recovery in the investment sector and attract foreign capital to the region, it requires that the provincial government immediately begin a review of the economic policy and the movement of
investment and the need to convene an urgent meeting of the Supreme Council for Asttmarvi Kurdistan region.
The head of the Federation of Contractors in the Kurdistan region, Jamal Amin, had said in press statements that the economic crisis in the region stopped work at 4 thousand and 170 projects in the province.[/rtl]
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