Senin, Oktober 30, 2006

A sudden rise of the dollar exchange rate in Iraqi dinar because of Eid Holiday

The observers of the currency market confirmed that any occasion interposed by public holidays, specially those that continue for several days, is expected to raise the value of the American dollar against the Iraqi dinar but the difference is limited and does not exceed in the most serious cases 1500 dinars to the dollar, because such increases in the view of some speculators will be temporary, and they fear from the Iraqi Central Bank being a safety valve of the Iraqi dinar and market. If the Bank thought that the market rose, as the case happened a year and a half ago, it would suspend its vacation to begin offering large amounts of hard currency on the market directly and at prices lower than the circulation price; that is why most speculators are afraid to keep large quantities within their bags due to the risk of loss. But, dealing in the market is done on the basis of supply and demand; this means that small speculators, dealing directly with citizens, would achieve very high profits for this reason. And about their expectations of market prices, the observer demonstrated that the dollar exchange rate in the central auction, held in the Iraqi Central Bank, finally began to retreat before the Iraqi dinar, as the Bank started floating huge amounts of dollars because of the government's need for local cash, especially as the volume of government's consumption increased recently and this requires securing these expenses through the auction. The supply has increased lately from $ 35 million to $ 60 million per day.

Rabu, Oktober 25, 2006

Will Iraq private sector import cars and sell them by installments?

This falls in line with the changes that the Ministry desires through adopting the free market system in business dealings after it was gripping for all of import and export, with partial waiver, in recent years, for the merchants to import components of the ration card. öö öö Al-Mada tried through this poll to know the views of a number of economists and whom it concerns about the implications of these changes, especially with regard to trade in cars and their prices in the local market.

The start was with citizen, Mahmoud Jaafar, who said: vehicles are durable commodities just like many others, so the State has no right to deprive the private sector from engaging in this business, which is one of the important activities, and play the role of a trader; the State better carry out bigger and more important tasks. Adding that allowing the private sector to practice this trade, will be positively reflected on the sector and makes the sale of vehicles in installments possible without exhausting the citizens. He asserted that the dissolution of the General Company for Cars Trade would allow the private sector to import modern and sophisticated cars; the market may witness some slackness at the beginning but it would not last for long.

Dr. Saleem Almshahadani, a professor at the Administration and Economy college at Baghdad, says: The import of cars in the past was done according to certain specifications that suit the weather conditions of Iraq, the availability of expertise in the company and all were subjected to control; therefore, allowing the private sector companies to import variable and sophisticated cars may have a negative impact at the beginning. He pointed out that starting private companies for importing cars will lead to the import of fine quality cars and opens the way to competition among these companies to win customers and prove their success, which is a positive thing.. But importing too many cars will have a negative impact on providing spare parts, which will not last for long because traders and companies will provide those tools being a profitable business.

Mr. Ahmed Jasb, owner of an exhibit for buying and selling cars says: The dissolution of the General Company for Cars Trade will be of great benefit because the importer will not adhere to certain qualities and specific brands, like the company used to do, , which will diversify the types of cars. He pointed out that the private sector may sell cars to citizens by installments with certain guarantees to be presented by the buyer. Also, companies that provide after-sale services may appear, as well as companies that undertake importing spare parts and maintenance, as is the case in foreign companies. He explained that car companies and exhibits will be agencies of international companies and will sell cars at a low cost.

Mr. Tahseen Al-Dulaimi, a car exhibit owner, says: The dissolution of the Company would not affect the work of exhibits because traders will turn to them to display the cars they importÇ with the possibility of opening branches of companies, especially after an agreement is reached or the issuance of instructions to organize the work with each of the customs and traffic. The new procedures to be followed by the ministry would be in the interest of exhibits owners because it would encourage and activate the sale and purchase processes. He, also, warned of importing fine cars by the private sector because this will affect the Iraqi street which can not accommodate more than the current number and will suffer from jams if public demand for importation of luxurious cars increases. In stead, he suggested the replacement of old vehicles with more recent ones.

While Mr. Aos, an exhibit owner, expected: a state of confusion will happen in the process of buying and selling after the new procedures which the Ministry intends to do, especially after allowing the private sector to import modern cars of high prices that the Iraqi citizen can not afford. He, also, explained: The majority of citizens prefer the old cars being affordable and car owners will face difficulties in this aspect. (Source)Al-Mada Newspaper

Iraq department of Labor collects more than four million iraqi dinar rent for their projects

The inspection committees in the Department of Labor and Social Security in charge of monitoring the implementation of the retirement and social security law for workers visited 22 projects, insured and uninsured.

An official source said that the inspection committees in charge of the application of the law regulating industrial services had visited 3 search centers for industrial projects and made sure of practicing the profession.(Source) Al-Mada Newspaper

Iraq department of Labor collects more than four million iraqi dinar rent for their projects

The inspection committees in the Department of Labor and Social Security in charge of monitoring the implementation of the retirement and social security law for workers visited 22 projects, insured and uninsured.

An official source said that the inspection committees in charge of the application of the law regulating industrial services had visited 3 search centers for industrial projects and made sure of practicing the profession.(Source) Al-Mada Newspaper

Rabu, Oktober 18, 2006

Tax exemptions for investment projects in Iraq

The amended draft of the investment law, which was approved at, included 36 articles. They provided the formation of a body called "National Board for Investment" which has a moral character represented by its chairman or whoever he entitles. The Board will be responsible for forming the national policy for investment, designing plans and regulations as well as monitoring their application in the field of investment.

The Board will be specialized in investment projects that have a federal nature, administered by a board of directors composed of nine members, who are university professors, and the Cabinet will nominate its chairman and gives him the rank of minister and deputy chairman with the rank of Under-Secretary for five years, ratified by the Parliament. The Prime Minister will also appoint four general directors from among the nine members. The Law grants Parliament the right to discharge the chairman of the Board or his deputy at the request of the Prime Minister. The Center of the Board will be in Baghdad and appoint representatives in other regions and governorates.

The Law also grants the regions and provinces, joined in federation or not, the right to compose investment bodies within their territories that have the right to grant investment licenses, encourage investment and open branches in areas under their control" within the regulations of this law", in consultation with the National Board for Investment to ensure that all requirements are legal. The regional and provincial bodies will be made up of seven members, including the chairman and his deputy. Regional and provincial bodies will coordinate work with the National Board for Investment in consultation with local governments, regarding investment plans and facilities.

The Law states: "The Board will accept requests for clearance of investment projects whose capitals are not less than the minimum limit established by the Cabinet or the regional council of ministers; how ever, in case the value of the project exceeds 150 million dollars, the approval of the Cabinet is required". The Board will look into applications of projects licenses within a period of not more than 45 days from the date of submitting the application. The Board will have its own independent annual budget allocated to it from the State budget.

The law defined the Board's objectives by: "encouraging investment through the strengthening of confidence in the investment environment, defining investment opportunities, motivating investment, simplifying the procedures of registration and acquiring investment licenses as well as watching for existing projects and give them priority to be completed, in coordination with official bodies".

Other functions of the Board are "completing the procedures of answering requests for investors and obtain the necessary approvals for the investor and the project, establishing a single window at the National Board for Investment and other regions and provinces comprising delegates accredited by the ministries and members nominated by provincial and district councils according to the conditions and relevant authorities. Also, granting licenses and obtain approvals from other parties in accordance with the law, in addition to providing advice to investors and develop programs to promote investment in the different regions of Iraq to attract investors" , as well as facilitate the allocation of land and rent it for setting up projects in return for a sum determined by the Board in accordance with the relevant authorities, in addition to working on the establishment of safe and free investment areas with the consent of the Cabinet".

The Law further provides that the Board "facilities and grants loans to Iraqi investors on condition they operate manpower commensurate with the size of the loan value". "The investor enjoys all benefits and guarantees and submits to obligations contained in this Law regardless of his nationality. Iraqi and foreign investor has the right to possess land for the purposes of housing projects without speculating it, according to rules set by the Board and with the consent of the Cabinet. The ownership of the housing units may be given to Iraqis after the completion of the project. According to this law, the investor will enjoy the privileges of taking out the capital that he brought into Iraq along with its profits, according to the instructions of the Central Bank after paying all of his obligations".

The law also gives foreign investors the right to" trade in the markets of securities, stocks and bonds, in addition to the composition of investment portfolios in stocks and bonds, as well as leases land for projects as long as the investment project exists but for not more than 50 years, renewable according to the approval of the Board". Foreign investors will also be given the right to insure their projects in insurance companies, and open accounts in Iraqi or foreign currency in different branches of banks in or outside Iraq.

The law ensures that the priority of recruitment and use of employees is for Iraqis, in addition to granting foreign investors and employees, in investment projects, the right of abode in Iraq and facilitate their entry and exit to and from Iraq. Also, ensuring that the project will not be confiscated or nationalized except what comes in a judicial sentence. According to the law "The investor will have commitments; for he will have to notify in writing the board of the region or province immediately after the completion of the installation of the project and the date of starting the commercial work, in addition to briefing the Board with documents, records and a feasibility study if requested".

"The project licensed by the Board will get exemption from taxes and duties for 10 years from the date of operating it according to the developed areas identified by the Cabinet. The years of exemption will increase up to 15 years if an Iraqi investor contributes in the project by 50%".

"The imported materials for the licensed investment projects will be exempted from customs duties for 3 years from the date of granting the investment license. Also, exempt materials imported for the purpose of expanding projects of fees on condition of entering the country within a period of less than three years from the date of notifying the Board of the expansion of the project, and exempt spare parts imported for the project from charges on condition that their value does not exceed 20% of the value of the existing materials on condition that the investor will not use them for purposes other than that for which they were imported".

The law gave" projects of hotels, tourism establishments, hospitals and health institutions, rehabilitation centers and educational institutions the right to import furniture, furnishings and supplies for renewal once every four years to be used in the project. If it is proved that any of these imported materials, which are exempt from customs, were illegally sold, the investor will have to pay fees and taxes, consequently". The Law includes rules to settle the disputes on projects and their financing methods and Iraqi laws will be applied to them, in addition to explaining the legal procedures for the granting licenses to a project. (Source)AlBayan

Maliki: Armed forces formed randomly in Iraq

Today newspaper that doesn't happen before end of this year.On the other hand Maliki declared orming ministerial committee to make substantial reforms at Ministries of Defense and Interior because the Prime Minister sees the way of which ministries formed as the most important problem faces him as he plans to solve the issue of militias and build Iraqi security forces.(Source)AlSabah

Iraq Prime Minister Adviser refutes Qaeda claims

He showed that current Government represents people and there are democratic tools fixed the Government's form and strategy, he added that those calls don't have any fact and don't relate to Islam. (AlSabah)

Electric Ministry in Iraq, Calls Russian Companies Restart Working

On the other hand, the ministry attended to providing full security for the experts and technical staff.Electric minister Dr. Kareem Waheed discussed yesterday with the Russian ambassador in Baghdad Vladimir Jamoon, the stopped private projects carried out by the Russian companies and possibility of activating it as rehabilitation of Haritha station and Yousifiya station besides rehabilitation two stations in Baghdad.(Source)AlSabah

Hidden terror in Iraq

Some people say that growing number of killing was linked to gangs working within ministries of defense and interior, a matte that pushed prime minister to form a committee to clean the said ministries from he the said gangs. This procedure would give its results and effective consequences along with coming days.(Source)AlSabah

Rehabilitation Iraq Oil Pipeline via Syria

A source at oil ministry said that, the ministry approached the Syrian side granting of protecting the pipeline from the terror attacks which try to destroy the Iraqi economic, pointing that settling of producing oil from the northern fields which reached now up to 580 thousand barrels daily would participate in settling the production, since the terror attacks caused negative results in producing Iraqi pure oil.(Source)AlSabah

Senin, Oktober 16, 2006

Fighting Corruption in Iraq strengthens democracy

Enlightened nations take it upon themselves to fight against corruption and do not wait for initiatives from politicians or government officials.

Taiwan, for example, is witnessing since several weeks ago a popular campaign against widespread corruption. The campaign does not only aim at punishing corrupt officials, but at protecting democracy as well through calling politicians to account for their actions.

Wai Jink Shing, a Chinese activist, says in the field of human rights, democracy and fighting against corruption in an article recently published in the newspaper" International Herald Tribune" that the citizens of Taiwan now, realize that the principles of formal democracy represented in the periodic competitive elections and the rule of law must be safeguarded and promoted by what he calls "effective democratic education", making citizens aware that without it, democracy will be at risk of collapse and recession.

Taiwan Activists have managed to make the issue of reform and calling to account, in the framework of fighting against corruption, a popular demand which managed to unite the two main political parties in the country: Blue camp which calls for unity with China and Green camp which calls for independence.

The Chinese activist says that higher campaigns against corruption, which comes from the highest political hierarchy is not more than chopping the wings and branches of corruption, without accessing its roots, which means that these branches will resume growth again.

Therefore, fighting against corruption should be radical and not reformed, popular and not formal. It must head for the roots and not only the branches, through varied social and popular activities where the citizens participate effectively in it, and this can not be achieved without effective democratic education.(Source)AlSabah

Amending the salaries of teachers and 200 million iraqi dinar for the Expelled of Saba ' Al-Bour

The government's official spokesman, Dr. Ali Addabagh, said in a press conference held after the meeting of the Cabinet last Thursday: The government discussed topics relating to the feasibility of keeping the multi-national forces in Iraq to ensure the interest of the country.

Addabagh explained that the Cabinet decided to amend the salaries of teachers to be (200) thousand dinars at minimum, with the addition of allocations decided by the Ministry of Education, granted to the teachers according to school sites in which they work: (50) thousand dinars for school teachers at remote areas, (40) thousand for those working in rather far areas and (30) thousand dinars for areas outside the municipal borders.

He said that the Cabinet is observing terrorist escalation in Saba' Al-Bour, north of Baghdad, and has decided to allocate (200) million dinars to help the expelled families and work hard to return them to their homes.

He said: the government decided to adopt the report of the committee formed of the Ministries of Interior and Finance concerning the livelihood insurance to employees of the emergency police and determine the ones included in it, in order to allocate the sum of seven thousand dinars per month for each associate as food payment which is considered a temporary measure till the appropriate decisions is taken. As for extending the stay of multi-national forces, Addabagh confirmed that the government finds the national security forces still need to be supported and trained by the M.N.F., pointing out that the granting of fixed military bases for these forces is something for the Parliament to decide. He added that the Cabinet is having intensive discussions to determine the feasibility of keeping (friendly) forces within the cities.(Source)AlSabah

Minggu, Oktober 15, 2006

A high rise in Iraq trade exchange rates

The import ratios rates are expected to continue rising during the next two months. He also explained: imported materials that are exempt from customs duties include all building materials, electrical power generators, water purification plants, productive cars, tourist saloon cars imported specially for municipal services and the reform of the electric power networks.

He added: The rates of import rose to more than 300 trucks per day and that their entry through the outlet has been going on according to a plan prepared by a coordinating body in the Green Zone. As for the revenues of customs duties in the outlet, he stated that the fees collected from non-exempt materials of the customs duties rose about three million dinars per day compared to previous months and the total amount of fees is estimated by seven billion dinars per month, deposited in the accounts of the Ministry of Finance being the authority entitled to deal with it.(Source)IMNSR

Wrong Strategies leading Iraqi economy

It is a parasite feeding on Iraq's funds and bringing no money with it. Al-Saadi said in a recent study published by (the contemporary conflicts center), a U.S. research center which provide advice to the Supreme decisions makers in the United States of America: "the recovery of individual and public freedoms, the enjoyment of democracy and the eradication of terrorism in Iraq are associated with the success achieved in the economic reconstruction, reducing unemployment, ending poverty and achieving social justice in the standards of health, education and social security services. I also stressed that the success of the new Iraqi state needs leaders that have comprehensive national vision, particularly in strategic and economic policies".

Al-Saadi added that the abundant oil resources are the property of all and the right of future generations as well. The ruling authority and parties, whatever their identities are, have no right to compromise it at any expense or use it as a political, economic or financial power to serve their own interests. the publishing of the study is an attempt to offer an independent national economic point of view the against the government national development strategy for the period from 2005-2007, as well as to discuss the American economic strategy contained in the national strategy to achieve victory in Iraq, which the American President announced in early December 2005. Al-Saadi finds that the oil financial resources currently available are sufficient even with the continuation of the current oil production and export. The confirmation of officials, politicians and American administration that the main problem in the economic failure are the scarcity of material, financial resources and the continuation of terrorism in the country, is a blatant fallacy. In his opinion, the current economic problems are arising from the inability of the American economic, political, financial and monetary strategy adapted to the actual state in Iraq and from misusing public petroleum resources which was one of the main reasons for the political chaos, violence, the spread of crime and administrative corruption.(Source)IMNSR

Iraq prevents the import cars under 2005

He said that the Iraqi decision issued last month and pointed out that contacts are underway with the Iraqi side to allow the import of cars model 2004 till the end of this year, explaining that there are no outstanding cars on the Jordanian side or at any of the two borders because of this decision.

The Iraqi side of the border has returned, few days ago, some trucks carrying cars exported to the Iraqi market, of the models mentioned in the resolution.

The source from the border pointed out that as son as the clarification memorandum of the governmental resolution arrives, it will be sent immediately to the Jordanian side. He pointed out that their cadre began to prevent the admitting of cars included in the resolution after having been orally informed of extending the ban resolution again and including cars imported from abroad in it.

On the other hand, the Vice-President of the Jordanian Free Zones Investors Association Nabil Rumman stated that the Iraqi authorities turned back a fleet of tankers shipping cars model 2005 onwards, after completing their customs data and taking them out of the Free Zone, where the traders were surprised by the resolution of turning back the cars without prior notice of the resolution. (Source)AlSabah

Iraq prevents the import cars under 2005

He said that the Iraqi decision issued last month and pointed out that contacts are underway with the Iraqi side to allow the import of cars model 2004 till the end of this year, explaining that there are no outstanding cars on the Jordanian side or at any of the two borders because of this decision.

The Iraqi side of the border has returned, few days ago, some trucks carrying cars exported to the Iraqi market, of the models mentioned in the resolution.

The source from the border pointed out that as son as the clarification memorandum of the governmental resolution arrives, it will be sent immediately to the Jordanian side. He pointed out that their cadre began to prevent the admitting of cars included in the resolution after having been orally informed of extending the ban resolution again and including cars imported from abroad in it.

On the other hand, the Vice-President of the Jordanian Free Zones Investors Association Nabil Rumman stated that the Iraqi authorities turned back a fleet of tankers shipping cars model 2005 onwards, after completing their customs data and taking them out of the Free Zone, where the traders were surprised by the resolution of turning back the cars without prior notice of the resolution. (Source)AlSabah

High inflation in the prices of consumer goods in Iraq by 15.1%

A field report of inflation, for the same month, on the prices of goods and services which forms the basket of the consumer retail prices, was made in selected markets in Baghdad and other governorates. "

He stated that this increase was the outcome of the high index of foodstuffs which increased by 6.1% while beverages and tobacco by 0.1%, fabrics, clothing and footwear, 1.5%, furniture 0.8%, fuel and lighting 57.8%, transport and communication 20.8%, medical services and medicines 7%, miscellaneous goods and services by 3.3% and lease by 0.7%.

The report also noted that the annual inflation index rose during the period from August 2005 until August 2006 by 76.6%.(Source)AlSabah

Kuwait participates " technically" in building three oil refineries in Iraq

The sources said that the Iraqi Oil Ministry had prepared a plan for the construction of new oil refineries in various governorates, pointing out that the plan includes: building the refinery of Koya in Koysanjak in Iraq's Kurdistan Province at a production capacity of 70 thousand barrels per day, the two refineries of Al-Nahrein in the region of Al-Hinddia in the province of Babylon south of the Iraqi capital at a capacity of 140 thousand barrels a day, also, in Nasiriyah in Dhi Qar governorate in southern Iraq at a capacity of 3 00 thousand barrels per day.

The sources said that" Iraq will soon sign agreements of cooperation with each of Kuwait, Syria and Iran to develop common oil fields".

On the other hand, the Executive Chairman and Vice-Chairman of Kuwait Petroleum Company, Hani Hussein, said in a statement to "Al Watan" that participation" will be limited to the technical aspects only and will not exceed more than that because they did not ask for any other kind of participation".

He added that" there is a technical cooperation between us and Iraqis because we possess a major refineries center in Kuwait in addition to our distinguished working staff in this field; therefore, our participation will be only technical since they did not ask us to be partners in these refineries«

In response to a question about the quality of the technical participation, Hussein confirmed that it is restricted to joint visits between the two sides to determine the extent of needs they require in addition to the exchange of expertise, getting acquainted with work in Kuwaiti refineries, observing some outstanding units in the refineries and how to manage them.(Source)ALWatan

Jumat, Oktober 13, 2006

Iraq foreign investment law bill approved

Ebadi, Head of the economy committee in the Parliament, added in a joint press conference held with a number of members of the Committee yesterday, Tuesday, that "the investment law will regulate the investment and encourage investors. Today is an important day, and the decision of ratification was one of the most important decisions that have been taken." He continued: "Now the government has to form an Investment Committee, because the law opens the country mainly for investments, and we want the Iraqi to senses a change in his economic life."

Ebadi pointed out that the executive board will form an Investment Committee and name its members then present them to the Parliament for ratification.

He said that "the investment law falls in line with the Iraqi Constitution, which gives jurisdictions to the regions and governorates; accordingly, there will be a national investment committee, and committees of the regions and governorates."

On his part, Kanna pointed to the benefits of the law and said that it will help to attract foreign capital to participate in the advancement of the country.

He added, "The country needs $ 300 billion for the rehabilitation and reconstruction. Housing projects, alone, need 200 billion dollars."

Kanna expressed its understanding of the fears of some members of the investment law because it will pave the way for interventions and exploitation of the law, but he said "there will be a balance between national sovereignty and attracting investments." He continued: "We hope that the law provides jobs for the unemployed and thus contain unemployment and tensions, especially that some of the unemployed were induced to do terrorist operations."

The Parliament approved the investment law yesterday after discussions lasted nearly two weeks.

The investment law grants a large number of concessions to foreign investors such as the power to purchase shares and manage investment portfolios. It also stated the establishment of a national committee for investment, and grant investment projects tax exemptions up to 15 years. (Source)Aswat Al Iraq

Kamis, Oktober 12, 2006

The investment law seeks to enhance the competitive capabilities of the Iraqi economy

He added that foreign investment is one of channels or external sources of financing economic and service activities or projects of in other countries. Economically known, that there are channels or several sources of external financing for the economic and service activities and projects in different countries. They include investment, aid, private and official loans "external debt", all of which are remittances or financial flows entering the country and they differ in terms, nature, burdens and benefits to the country.

He continued: "However, the most important characteristic of foreign investment, compared to other financing sources, is that it does not burden the beneficiary country with debts. The financial flows in the form of foreign investment do not constitute a debt to that country as the case for foreign loans. They are not combined to any political commitments as is the case for some grants and foreign aids.

He explained: in fact, there are two types of foreign investment: the foreign direct investment and Foreign Indirect Investment. The difference between the two is that the first is a real, long-term investment in the productive and service sectors of the national economy, like industry, agriculture, energy, tourism, communications and others. The second type, the indirect foreign investment, is concentrated in the financial markets where foreign bodies, individuals and companies, own the shares and stocks, private or governmental and circulate them o achieve profit.

He said: it is noted that some of the international financial institutions consider the investment indirect in the case it possesses of the proportion of less than 10% of the shares in the financial market, which is a matter of debate, as the ratio does not constitute an essential criterion in the classification between direct and indirect. Usually, the standard of a certain field, sector or activity where remittances or external financial flows are used, is taken into consideration.

He continued: "What concerns us in Iraq is the research in the benefits of foreign direct investment, and concentrate at its benefits as an external funding source for economic and service projects in the framework of the national development strategy and its priorities. The truth is that the benefits of foreign direct investment are clear and of significant importance for the remarkable development experiences in many countries such as China, India, Malaysia, Mexico and Brazil and other countries in the world, in all continents. They are the acquisition of modern technologies, the fight against unemployment (creating job opportunities), the development and diversification of exports and the variation of the productive base of the national economy and others. This is what Iraq needs, more than ever, in the framework of his policies and orientations to reform and diversify the economy, reconstruction, tackling the problem of unemployment and improve the quality of services and expand them. It is an urgent necessity imposed by the significant lack of internal financial resources, compared to the high estimated cost to achieve these programs and projects.

He said: that foreign direct investment is today the focus of fierce international competition, where countries compete to earn foreign investments by providing incentives, exemptions and inducements designed to achieve that goal. Countries from both sides of the world, developed and the developing are engaged in the task. It is noted that China, in the framework of its new economic policy, has been successful in attracting the highest proportion of foreign investments, without compromising its interests and national sovereignty, which is a remarkable phenomenon and worthy of study and follow-up on our part. It also has a very useful intellectual and economic significance for the debate aroused currently on the law of investment in Iraq and the fears that it may cause for national sovereignty, in the eyes of some.(Source)AlBayan

Iraqi MPs unanimously approve federal law

The closed-door meeting kicked off with 140 MPs after convincing some of the boycotting MPs to attend the meeting. The parliament then decided to make the meeting public.

The parliamentary committee tasked with drafting the federal law read the draft during the meeting while the parliament voted on each section of the law separately.

Those who oppose the law fear the law would hand northern and southern oilfields to ethnic Kurds and Shiites respectively, and would leave them trapped in a poor central and western Iraq. (Source)Kuna

Ministry of Finance specifies one billion dollars to support the unemployed and lend those who want to build houses between 20 - 30 million iraq dina

In the meantime, the Ministry of Commerce announced that it started supplying whoever wants with imported construction materials at subsidized prices.

This falls in line with the orientations of Al-Maliki government to ease the burdens imposed by the circumstances upon the citizens, like unemployment and the housing crisis that could be regarded as the most important problems facing the population. The government started the project of social protection to keep off hazards from families who suffer from poverty. Politicians and citizens say that the status of these families is resulted from the lack of employment opportunities provided for their sons.

A source in the Ministry of Finance stated that Mr. Jabr Al-Zubaidi declared, during his meeting with the Minister of Labor and Social Affairs Mahmmoud Al-Sheikh Radi, the decision of his ministry to specify one billion dollars (that is, one trillion and 500 billion iraqi dinar to help the unemployed set up small projects for themselves to provide a decent living for their families. He said: work of this project will start with the beginning of next year.

During his talk with the Minister of Labor, Azzubaidi said that the amount is enough to cover the expenses of 50 thousand projects whose owners could pay back the loans over 15 years without interest.

The Ministry of Labor and Social Affairs noted that the project would contribute to develop the economic status in Iraq on one hand and to achieve self-sufficiency for the families included in the social protection network.

Officials noted in earlier times that this network needs to be supported with financial surpluses resulted from the increase in selling prices of fuels. It has not been possible for "Assabah", though, to know whether this amount is a deduction of the savings achieved by raising prices of petrol to 250 dinars per liter. On its part, the Ministry of Labor formed a committee, consisting of representatives from the ministries of Finance and Planning to control the grants given to beneficiaries and to decide whether the proposed project needs financial support.

In order to confirm the ministry's quest for supporting community and alleviating the oppressive conditions, it started receiving requests from citizens who wish to build houses for themselves. An official source in the Ministry of Finance stated to "Assabah": The loans range between 20 - 30 million dinars. They are granted to anyone who has a piece of land and wishes to build it, repaid over a period of 20 years at an interest of 6% of the loan value. He explained that the bank will grant loans ranging between 8-12 million dinars for those wishing to add another building, repaid over a period of 15 years.

He pointed out to the granting of 20 million for those who wish to build on an area of 75m-100m, 25 million dinars to the area ranging between 101m-125m and 30 million dinars for constructing an area of more than 126m.

The instructions for granting the loan conditions to present a pledge to pay back the amount through the deduction of salary if the receiver is an employee or cash if not, it also conditions that the receiver and his wife do not have a land plot any were in the provinces or that he and his minor children have no real estate in any province. Also, there should be a guarantor available.(Source)AlSabah

Ministry of Finance specifies one billion dollars to support the unemployed and lend those who want to build houses between 20 - 30 million iraqi din

In the meantime, the Ministry of Commerce announced that it started supplying whoever wants with imported construction materials at subsidized prices.

This falls in line with the orientations of Al-Maliki government to ease the burdens imposed by the circumstances upon the citizens, like unemployment and the housing crisis that could be regarded as the most important problems facing the population. The government started the project of social protection to keep off hazards from families who suffer from poverty. Politicians and citizens say that the status of these families is resulted from the lack of employment opportunities provided for their sons.

A source in the Ministry of Finance stated that Mr. Jabr Al-Zubaidi declared, during his meeting with the Minister of Labor and Social Affairs Mahmmoud Al-Sheikh Radi, the decision of his ministry to specify one billion dollars (that is, one trillion and 500 billion iraqi dinar to help the unemployed set up small projects for themselves to provide a decent living for their families. He said: work of this project will start with the beginning of next year.

During his talk with the Minister of Labor, Azzubaidi said that the amount is enough to cover the expenses of 50 thousand projects whose owners could pay back the loans over 15 years without interest.

The Ministry of Labor and Social Affairs noted that the project would contribute to develop the economic status in Iraq on one hand and to achieve self-sufficiency for the families included in the social protection network.

Officials noted in earlier times that this network needs to be supported with financial surpluses resulted from the increase in selling prices of fuels. It has not been possible for "Assabah", though, to know whether this amount is a deduction of the savings achieved by raising prices of petrol to 250 dinars per liter. On its part, the Ministry of Labor formed a committee, consisting of representatives from the ministries of Finance and Planning to control the grants given to beneficiaries and to decide whether the proposed project needs financial support.

In order to confirm the ministry's quest for supporting community and alleviating the oppressive conditions, it started receiving requests from citizens who wish to build houses for themselves. An official source in the Ministry of Finance stated to "Assabah": The loans range between 20 - 30 million dinars. They are granted to anyone who has a piece of land and wishes to build it, repaid over a period of 20 years at an interest of 6% of the loan value. He explained that the bank will grant loans ranging between 8-12 million dinars for those wishing to add another building, repaid over a period of 15 years.

He pointed out to the granting of 20 million for those who wish to build on an area of 75m-100m, 25 million dinars to the area ranging between 101m-125m and 30 million dinars for constructing an area of more than 126m.

The instructions for granting the loan conditions to present a pledge to pay back the amount through the deduction of salary if the receiver is an employee or cash if not, it also conditions that the receiver and his wife do not have a land plot any were in the provinces or that he and his minor children have no real estate in any province. Also, there should be a guarantor available.(Source)AlSabah

Rabu, Oktober 11, 2006

Shehrastani announces the intention to build a one billion USD refinery

During inauguration al-Najaf refinery last Saturday, al-Shehrasstani said: the ministry had prepared a plan to build a number of refineries in the northern, middle and southern regions of the country to reach self-sufficiency of fuel production and fulfill the local market need of the oil derivatives to do without importing it abroad as it costs government huge sums.(Source)AlSabah

To Make Iraqi oil a blessing and not a curse

The bulletin issued by the Emirates Center for Strategic Studies and Researches confirmed, according to Salih, that this law will allow all Iraqis to share in the incomings of oil wealth through a special fund in Baghdad to be distributed equally to the different governorates, according to the number of population, taking into account the injustice inflicted upon some governorates by the regime of Saddam Hussein.

The editorial stated that what it is more important is that these statements of the Iraqi Deputy Prime Minister came at a time in which the President of the Kurdistan Massoud Barzani said, during a press conference with American Secretary of State Condoleezza Rice during her visit to Iraq, that he supported the equitable distribution of oil revenues to Iraqis.

It added that the controversy over the distribution of oil revenues forms a major part of many serious and ongoing disputes on the Iraqi arena since the overthrow of Saddam Hussein, like the relationship between Shiites and Sunnis or between Kurds and other Iraqis as well as other disputes that prevail over the political attitudes of some Iraqi forces.

It went on to say that oil is particularly concentrated in the northern provinces of the Kurdish and the southern of the majority Shiite, which led to the concern of the Sunnis who have been stationed in the middle of being deprived of the oil revenues through the draft or federal territories and that is why they strongly oppose federalism. The way oil and its resources are exploited is one of the main causes of tension between the Kurds and the Iraqi government that refuses some aspects of the Kurdish independence in dealing with this issue.

It considered that one of the most important principles and foundations of the unified State, where all Iraqis agreed to live together, is that its different resources are the property of all Iraqis and their shares in it are determined according to objective considerations mandated by a central administration and not according to geographical, ethnic or sectarian considerations.

It believed that to make oil a factor for unification and not divisive or conflict, a blessing and not a curse, each Iraqi citizen must feel as a partner in its resources which are distributed fairly and objectively in various governorates, regardless of the fact that it is an oil province or not.

The editorial concluded that oil is at the core of people's lives. If disputes over it are not settled, it could evolve seriously because it concerns a fundamental wealth that everyone finds it his right to participate in and enjoy its returns, especially after decades of squandering this wealth in a losing adventures during the time of the ex-regime. (Source)AlBayan

Studying the establishment of the first civilian airport in Wasit

Nizar Hajami, Vice President of the council, said: "the committee formed by the Council will survey the former military airport, Al-Bashaair (60 km south of Kut), then decide the possibility of utilizing its facilities and transforming it into a civilian airport after obtaining the approval of the Cabinet for the purpose of using it in air transport among the provinces near Wasit and neighboring countries, as well as facilitate the transfer of pilgrims and visitors to holy sites".

He added: "Some of the airport installations, covering a total of 30000 thousand acres, are in good condition, like the take off runway with a length of more than 3 Km. because it was rarely used previously. The current airport needs some buildings and rooms for administrative, security and technical work as well as resting and waiting halls for passengers".(Source)AlSabah

Senin, Oktober 09, 2006

The Sixth Conference of Reconstructing Iraq held in Washington at the end of year

The Commissariat indicated that this conference is attended by senior Iraqi officials, as well as officials from major American governmental agencies that possess the reconstruction contracts and which are interested in finding Iraqi partners and contractors. The conference will also be attended by delegates from firms from other countries interested in creating opportunities for contracts with Iraqi companies.

Studies, researches and projects to develop the services and the reconstruction of Iraq will be presented during the conference. Also, a major exhibition will be held that includes various pavilions for the participant parties in the conference.

The Iraqi Commissariat of Civil Society Institutions in Iraq approached the ministries concerned and interested in participating in order to coordinate their participation with the organizing board. Dr. Basil Al-Azzawi, head of the Commissariat, explained that the VISA and travel approvals will be granted directly from the American embassy. He pointed out that travel and subsistence expenses for official delegations will be borne by the Organizing party, while companies and businessmen, will bear theirs. (Source)AlSabah

The establishment of new financial management system in Iraq

Skamber explained that Iraqis will be able to know the balance of payments and what the Iraqi export of materials are and the amount involved in the state budget through the new system.

He said that the activation of work on the project will start with the beginning of next year. Preliminary preparations were set for the success of its application through unifying financial records of the ministries and the continuous documenting of financial records.

He added that such a system would raise the level of transparency and reduce the level of administrative corruption through adopting the mechanic method of payment by using open electronic communications of government purchases.

Skamber explained that this system will enable government employees to receive their salaries from banks, that have government accounts and this procedure is new in Iraq, according to him.(Source)AlSabah

Minggu, Oktober 08, 2006

Najaf Refinery to be Opened Today

The spokesman of the oil ministry Asim Jihad said that, the technique & engineering stuff of oil Productions Company carried out establishing of Najaf refinery completely earlier at the current year, adding that the current productions would participate in repairing residents' needs.

He emphasized that the next period would witnessing producing of 30 thousand barrels daily, pointing that Najaf refinery was the second carried out refinery after Samawa refinery which opened last year.(Source)AlSabah

The establishment of the first company for banking guarantees by the capital of five billion and 450 million Iraqi dinar

He explained that the loan amount prescribed by the Bank is based on a feasibility study provided by the beneficiary after the analysis of data and then the bank introduce it to the company which will, in turn, analyze the data and information to ensure the acceptance of this project.

He stressed that this mechanism will contribute to achieve several objectives including the operation of productive and service projects and the impact on the absorption of labor and contribute to tackling unemployment.

Board member pointed out that the company is encouraging female component of the project (sme) of small and medium-sized enterprises. Thus, it will make an important foundation in developing the community capacity in different fields.

He said the Registrar of Companies had ratified the establishment of this company, which enjoys the support of the Iraqi Central Bank, pointing out that a minimum of shares is 400 million dinars and called other banks to join the company.

A member of the company also said that this achievement is for developing the performance of banks and raise productivity through launching loans to businessmen, plants owners and companies.

He pointed out that the number of private banks in Iraq is 24 banks progressed significantly during the previous four years and stressed the quest of the company for the development of banking services in Iraq to commensurate with the volume of activity expected after launching the reconstruction of Iraq.

Member of the Board of Directors also confirmed that the company based its activity on approved international standards and that the premiums are paid on time away from the old contexts. The Board of Directors had been informed of the nature and activity of similar experiences of companies in Amman and Lebanon. He added that preparations are under way to prepare the banking staffs, through giving them courses for credit officers on new ways of lending.

He concluded by pointing out that the loans were open for: commercial, service, productive, industrial and agricultural sectors. Thus, the company will operate and activate the performance of the productive and service projects stalled due to funding.(Source)AlSabah

Iraqi investors are in 2nd place in Jordan

The volume of investment in Jordanian registered companies during the last nine months of the current year amounted to 940, 26 million Jordanian dinars (about 1.33 billion dollars), compared with (480, 4) million dinars in the same period of 2005, at an increase of 95.7%.

General supervisor of the companies, Mahmmoud Al-Abbabanh, said that 7021 new companies with the capital of 940.3 million dinars had been registered since the beginning of this year till the end of last September compared with 6227 companies with the capital of 480.4 million dinars had been registered at the same period of last year.

Most new investments focused on the services sector amounted to 448 million dinars, and then agriculture amounted to 252.9 million dinars, industries amounted to 117.5 million dinars, followed by trade and reached 105.9 million dinars then contracting to 15.6 million dinars.

Al-Abbabanh explained that the new public shareholding companies accounted for the highest proportion of the total capital of the new registered companies, as the number recorded since the beginning of this year 2006 to 38 public shareholding companies with a total capital of485.6 million dinars compared to 12 public shareholding companies with a total capital of 80.7 million dinars registered at the same period of last year. It was followed by limited liability companies with the capital of 191.5 million dinars compared with 156.4 million dinars to the same period of last year.

Al-Abbabanh said that during the month of September, 600 new companies registered with a capital amounted to 77.2 million dinars compared to 685 companies with the capital of 124.5 million dinars registered at the same period of last year.(Source)AlSharq AlAwsat

Najaf Refinery to be Opened Today

The spokesman of the oil ministry Asim Jihad said that, the technique & engineering stuff of oil Productions Company carried out establishing of Najaf refinery completely earlier at the current year, adding that the current productions would participate in repairing residents' needs.

He emphasized that the next period would witnessing producing of 30 thousand barrels daily, pointing that Najaf refinery was the second carried out refinery after Samawa refinery which opened last year.(Source)AlSabah

Armed groups in Iraq announce truce,5000 officers support reconciliation

He said that some of those groups announced stopping military operations, expressing good faith to accept conditions of initiative and principles of Ramadhan document.

Meanwhile senior officer at previous Iraqi army said that about five thousand officers made gentlemen's agreement to support the project of Prime Minister Maliki.(Source)AlSabah

Rice Calls for the Sharing of Oil Wealth among Iraqis

Talabani said in a joint press conference with Rice, who arrived in Baghdad yesterday in a sudden visit, that he focused on two essential points during his interview with the American minister: the agreement among the political blocs through signing the document of preventing Iraqi bloodshed and the cooperation between the tribes in Anbar and the government to face and prosecute terrorists.

Rice has arrived yesterday morning, Friday, to Erbil and met with the President of Kurdistan, Massoud Barzani. She invited regional leaders to cooperate with Baghdad to establish a unified, democratic Iraq and to share oil wealth, while Barzani emphasized that the "Kurdistan Parliament approved the federal system within the framework of a democratic Iraq." The discussions aimed to persuade regional leaders to support the law that provides for the sharing of oil wealth among all Iraqis.

Rice renewed her government's commitment to assist the Iraqis in building their state and reconstructing Iraq, indicating that sectarian violence is a strategic threat and added that "of all the threats faced by Iraq are Al-Qaida rebels and sectarian violence… A solution must be found to that. "She said that there are three major bases of stability: reconciliation, security and economic development.

Rice met with Prime Minister Nuri al-Maliki and praised his "excellent leadership". She also confirmed that the United States would "remain a committed friend of Iraq" and added: "They are, without a doubt, difficult times for Iraqis but they are strong", expressing the readiness of her government to provide various kinds of support to the Iraqi government to resolve the problems faced.

On his part, Al-Malki confirmed, during the meeting, the government's determination to deal with the terrorists with all its strength through the development of the capabilities of security and military agencies. He pointed out to the necessity of keeping arms in the hands of government alone and works to contain the militia issue. He said that the Iraqi government was determined to establish the best relations with neighboring countries on the basis of common interests and that Iraq would not be a conduit for harm to any of them; however, the sovereignty of Iraq will not be the subject of discussion with any party.(SOurce)AlMada

Iraq Oil Ministry Ready to Invest Fields

The ministry stressed on necessity to deal with information in a crystallized way through media to be clear for the residents.

On the other hand, oil installations protection force had stopped 20 containers were prepared for smuggling in order to be sold the production in the black market.

Oil minister Dr. Hussein al-Shihrastani said that the ministry tends to investing all gas and oil fields in the different districts of the state since it contains large quantities of these materials by the next year. (Source)AlSabah

Maliki: Anbar would enjoy security, major reconstruction boom

In the mean time Anbar Deliverance Council prepares to hold conference to Anbar tribes' leaders in Ramadi during next few days, said well informed source.

He added the conference would discuss secure safety in Anbar. On the other hand, security services in Babil declared state of alert preparing to face escaping terrorist groups from Ramadi to northern areas of the Babylon.(Source)Alsabah

Jumat, Oktober 06, 2006

Opening Najaf, Iraq Refinery Next Week

He added that the liquidator will produce quantities of kerosene, black-and-white oil and gasoline to fulfill the local needs and provide local plants such as cement plant in Najaf and others with such materials.

He added: "The reopening of the refinery was in such a short period of time". Jihad explained that this is the second refinery that enters the production field, after Samawah liquidator, since the fall of the previous regime.

He pointed out that the Oil Ministry announced that Al-Ahdab field in the province of Wasit will be the first field to be developed to produce 30 thousand barrels per day. It is planned to increase production over the next two years to 90 thousand barrels per day which will make it possible to establish a very large electricity station in this field.

Jihad continued "the field of east Baghdad will be developed, to produce 16 thousand barrels a day; then increase to 30 thousand barrels per day during the next term according to the ministry's plan.

He added "this field, which will feed Al-Quds thermal processing electricity station with fuel, will be developed for export purposes later. (Source)Al-Bayan

The Completion of Draft law on Iraq Securities and Iraq Stock Exchange

He pointed out that the draft is "complete" in the form that meets with the requirements of modern investment, electronic circulation, outside link, stock exchanges, the Arab and regional economies.

Electronic trading: Implementing electronic trading expected to begin early next year. Abdulsalam said that this system has important results in strengthening its ability to activate the potentials of investors and shareholders to benefit from its advantages. It will provide the possibility of opening the Iraqi bourse rooms in Kurdistan region as well as the central and southern governorates. He pointed out that the market has a plan that would include the possibility of registering non-Iraqi companies in the Iraqi Stock Exchange and Iraqi companies in Arab Stock Exchange.

Abdulsalam returned to Baghdad after an observation trip in Amman with a delegation from the bourse presided by Head of Trustees Talib Tabatabai. There, he observed the phases of implementing the electronic system by an international company. He considered the issuance of the new investment law which allows non-Iraqis to trade on the Stock Exchange as well as applying and using electronic systems, encourages and stimulates non-Iraqi circulation in the Iraqi market. This means the rise of market value of the shares due to the high demand and the increase of investors' incomes in the market as well as their wealth.

The executive director of the market said that the manual circulation adopted at the Stock Exchange, holding two sessions a week for two hours each and the continuing process of changing ownership from seller to buyer that takes two or four weeks, all prevent the buying investor from selling until after this period, while the electronic circulation allows the agents to trade through their offices in Baghdad and elsewhere. The Exchange could also be done during ten sessions within five days a week, divided into a morning session and an evening one, for two hours each. He pointed out that the investor who buys the shares in the morning session can sell them in the evening and visa versa.

He anticipated that the number of executed contracts, now 350, will increase hundreds of times after adopting the electronic system. This means achieving high fluidity of the circulated shares by perhaps up to 100%.(Source)Dar AlHayat

Rabu, Oktober 04, 2006

500 Medical Institutions Participating in the International Medicine Fair for Reconstructing Iraq

Head of the supreme organizing committee, Badr Al-Inizi, said in a press conference that the idea of organizing this international medical fair and conference in Kuwait to serve the health sector in Iraq is an important step in the cooperation between Iraq and Kuwait. Also, to encourage and support investors, companies and institutions who are interested in investing in the Iraqi market through this specialized international gathering. The fair will display the innovations in the medical field and the developments on them in order to help the medical and health sector in Iraq move forward.

He added that Iraq's great desire was the main reason for organizing this fair and the seminar that is about to be hold in order to establish relations between Iraqi and Kuwaiti doctors as well as between unions, governmental and private institutions from both countries. This will pave the way for big investments in all fields especially the medical one which can take investments in millions or even billions USD.

Al-Inizi said that more than 500 international companies and institutions will participate in the fair to display their latest products and modern medical equipments that fulfill the Iraqi demand. The fair will be held on (Fairs Ground), in addition to organizing and establishing workshops during the conference.

The fair aims at training Iraqi doctors to operate the modern medical devices displayed within its wings as well as in the international market.

Dr. Nameer Annahi, head of pharmacy division in Basrah, said that this international conference serves the constructing process in Iraq because it introduces us to the best there is in the modern science of medicine. It will, also, supply health sector in Iraq with devices and equipments that it needs very much.

Dr. Nameer stated that Iraqi government is working on encouraging investments in Iraq. Therefore, it started facilitating things for the investors who desire to enter the Iraqi market which needs more of the medical and therapeutic products. So, this is a very promising opportunity to invest in Iraq for the ambitious companies and institutions. He pointed out that the government is seriously intending to establish more hospitals and health centers to fulfill the public needs of medical care and health services.

Dr. Qusai Zeebari, head of surgery division at Assadr Instructional Hospital and representative of doctors union in Iraq, said that investments in Iraq are very promising and they can take a lot of products that develop health and medical services as well as enhancing health sector here. He pointed out that this field has an increasing demand for medical products around the clock. He confirmed that health sector in Iraq is in great need for the medicine and drugs that will be provided by the companies, institutions and investors participating in the fair and conference.

He explained that many contracts will be concluded between the Iraqi side and the rest of the Arab and foreign investors to fulfill the needs of the local market in the medical sector in Iraq. Zeebari said that there are some regulations that goes along with the international policy of investing in the field of importing drugs and medical equipments, but the government is trying hard to facilitate the procedures and simplify them. The government is, also, working on adjusting laws and legislations to attract the foreign investor.(Source)Alsabah

Iraq Prime Minister Maliki stresses determination to step down militias

This has come during his meeting with delegation from Senate headed by Senator John Warner, Chairman of Armed Forces Committee.

The Prime Minister added that the country has witnessed a major development in security and the Government succeeded in transform hot regions to areas confronts terrorism and fights it as Anbar, Nineveh and Diyala provinces.

On the other hand Maliki met UN Envoy in Iraq Ashraf Qadhi to discuss developments of security situation in the country.(Source)Alsabah

Selasa, Oktober 03, 2006

Security Adviser stresses security measures caused curfew in Iraq

He added during a press conference that security forces came closer to Abu Aiub Almasri leader of AL-Qaida organization in Iraq, and showed a videotape shows Almasri during his training to some persons of cars' bombing, stressing the tape was found by American Forces in Alussefeia before few days.

(Source)AlSabah

Iraqi and British Forces launching a Plan to reconstruct and restore security in Basrah

The British military spokesman, Major Charles Burbridge, said that Iraqi and British forces started operation "Sinbad" in Basrah (550 Km. to the south) in an "attempt to improve the living levels of the people through repairing the light posts in the streets and removing the garbage". Other projects like reconstructing hospitals, repairing water distribution nets and providing pupils with the necessary requirements will start under the protection of the Iraqi and British forces.

The spokesman confirmed that "The M.N.F is providing the suitable security frame for the Iraqi forces to enter certain districts and help the reconstruction process and support Iraqi engineers and contractors". Burbridge continued that another element has been added to the plan and that is to rid the police force from the militia members who penetrated it. He considered "the key to success in Basrah is providing a secure enough environments that enables Iraqi security forces from controlling things here and then hand over the security file to it. Thus, the existence of the M.N.F. in the streets will be reduced.

This operation is expected to go on till the first months of next year. Seven thousands British soldiers are spreading in the south of Iraq.117 of them got killed since the invasion in March, 2003.

The reaction of people in Basrah towards this plan ranged between welcoming and criticizing it:

Fatima Hussain, a principle of a primary school, said "We are very glad to hear about this plan being carried out by the British forces who offered a lot of help to our schools and children in Basrah. Without these forces, chaos would have prevailed in the city."

Navy officer, Kareem Hussain, said "The American forces must prove the credibility of the promises it made before the war, through activating the work in humanitarian projects." He added that what the Iraqi really needs is the improvement of health and service facilities.

Jamal Musa, an official in the Iraqi General Company of ports, said "In stead of constructing children playgrounds and decorating schools, they should be building hospitals which Basrah needs most." He, also, demanded to "solve the problems of water and electricity." He pointed out that "the existence of the British Forces is one of the reasons of deteriorating the security status (…) They are harming the people and not protecting them."

How ever, a France Press correspondent watched thirty British soldiers fixing up the doors and windows of a school at Al-Baradhi'ia where the British and American consulates are located, while others were busy digging foundations for constructing children playgrounds. (Source)Alwatan

Five hundred Medical Institutions Participating in the International Medicine Fair for Reconstructing Iraq

The purpose is to support and encourage investing in the medical field and health services in Iraq, through exchanging point of views among the Gulf, Arabic and international companies who are interested in entering the Iraqi market in this field particularly.

Head of the supreme organizing committee, Badr Al-Inizi, said in a press conference that the idea of organizing this international medical fair and conference in Kuwait to serve the health sector in Iraq is an important step in the cooperation between Iraq and Kuwait. Also, to encourage and support investors, companies and institutions who are interested in investing in the Iraqi market through this specialized international gathering. The fair will display the innovations in the medical field and the developments on them in order to help the medical and health sector in Iraq move forward.

He added that Iraq's great desire was the main reason for organizing this fair and the seminar that is about to be hold in order to establish relations between Iraqi and Kuwaiti doctors as well as between unions, governmental and private institutions from both countries. This will pave the way for big investments in all fields especially the medical one which can take investments in millions or even billions USD.

Al-Inizi said that more than 500 international companies and institutions will participate in the fair to display their latest products and modern medical equipments that fulfill the Iraqi demand. The fair will be held on (Fairs Ground), in addition to organizing and establishing workshops during the conference.

The fair aims at training Iraqi doctors to operate the modern medical devices displayed within its wings as well as in the international market.

Dr. Nameer Annahi, head of pharmacy division in Basrah, said that this international conference serves the constructing process in Iraq because it introduces us to the best there is in the modern science of medicine. It will, also, supply health sector in Iraq with devices and equipments that it needs very much.

Dr. Nameer stated that Iraqi government is working on encouraging investments in Iraq. Therefore, it started facilitating things for the investors who desire to enter the Iraqi market which needs more of the medical and therapeutic products. So, this is a very promising opportunity to invest in Iraq for the ambitious companies and institutions. He pointed out that the government is seriously intending to establish more hospitals and health centers to fulfill the public needs of medical care and health services.

Dr. Qusai Zeebari, head of surgery division at Assadr Instructional Hospital and representative of doctors union in Iraq, said that investments in Iraq are very promising and they can take a lot of products that develop health and medical services as well as enhancing health sector here. He pointed out that this field has an increasing demand for medical products around the clock. He confirmed that health sector in Iraq is in great need for the medicine and drugs that will be provided by the companies, institutions and investors participating in the fair and conference.

He explained that many contracts will be concluded between the Iraqi side and the rest of the Arab and foreign investors to fulfill the needs of the local market in the medical sector in Iraq. Zeebari said that there are some regulations that goes along with the international policy of investing in the field of importing drugs and medical equipments, but the government is trying hard to facilitate the procedures and simplify them. The government is, also, working on adjusting laws and legislations to attract the foreign investor.(Source)AlSabah

Iraq to charge Jordan USD 10 per barrel of oil

It quoted an Energy and Mineral Resources Ministry source as saying the preferential price of oil imports from Iraq is in line with the Memorandum of Understanding (MoU) signed by both countries recently.

It said, the export of Iraqi oil to Jordan is governed by providing security for the oil tanks that proceed by land from Iraq to neighboring Jordan. He hoped for solving the security problem as soon as possible to ease the import of oil from Iraq.

The daily referred to many reports confirming the deterioration of the security conditions all along the road from the Iraqi Beji province to the Jordanian territories. This puts truck drivers at risk of being attacked by militants who literally control most of the Iraq-Jordan expressway.

The MoU signed by both countries stipulates supplying Jordan with Iraqi oil at preferential prices that are not yet officially declared, at the rate of 30, 000 barrels per day (bpd) and that will gradually rise to 60,000 for fulfilling Jordan's need of oil that totals 100,000 bpd.

The daily concluded that many Iraqi security companies are offering to guarantee the arrival of oil supplies to Iraq.(Source)Kuna

American University to Open in North Iraq

After the fall of Saddam Hussein, he put his plan into action. Why name the school American University? Because, he says, Iraqis are grateful to the United States for liberating them--nowhere more so than in Kurdistan. Besides, he adds, "American education is among the best products the U.S. can offer."

Perhaps. But Iraq's American University will be a largely homegrown effort. The local Sulaymaniyah government donated the land for the project--some 162 hectares, with room for a future golf course--and Salih has managed to raise $15.2 million in start-up capital from private donors. Construction won't begin until next March and will take about a year and a half to complete. Meanwhile, the first students will start classes in January in rented offices not far from the future campus.

They'll begin with intensive English to prepare for regular university courses, which will all be taught in English as in the other five American Universities around the world, including three in the Arab world: Cairo, Beirut and Sharjah (U.A.E.). "It's not just Dick-and-Jane, let's-learn-how-to-order-in-restaurant English," says John Agresto, a former U.S adviser to the Iraqi Ministry of Higher Education and the only non-Iraqi member of the college's board of trustees. Language lessons will be supplemented by Western philosophical and political teachings, including the Federalist Papers and other founding documents of American democracy.

The school's emphasis on a liberal-arts education distinguishes it from Iraq's 63 other universities and technical institutes, which tend to specialize in the sciences and engineering. (Top students in Iraq who study medicine, for instance, rarely receive any training in social sciences or humanities.) At least initially, though, the college will focus on economics, public and business administration, political science and information technology--all of which are critical to Iraq's future. Perhaps appropriately for an American-style university, its first degree offering will be an executive M.B.A.

The first year's class will be small--about 250 students--but administrators expect to expand quickly, to 1,000 students per class by 2011 and twice that by 2015. Most students will receive substantial scholarships. Though located in Kurdistan, the university will be open to all Iraqis, school officials emphasize, regardless of religion or ethnicity. "At the end of the day, we care about the same things in life--basic values of liberty and decency," says Salih. "When you bring people together and develop human interaction, they will see Iraq's diversity is an asset, not a problem."

Indeed, Iraqis from all parts of the country have already been calling board members and begging to have their children admitted. Officials insist that admissions standards will be high and transparent--meaning no one will be able to beg or buy his way in. Ultimately, Salih hopes his new creation will help restore his country to the educational pinnacle of the Arab world. Only then can Iraq reverse the exodus of its best and brightest young people, which, after the ongoing sectarian violence, is perhaps the greatest challenge to the country's future.(Source)AINA

One thousand new Projects To Provide Jobs For Idles in Iraq

Ministry will provide loans reaches 10 million iraqi dinars as maximum for each project with payments goes through 10-20 years, referring that each project employs 1-9 unemployed persons. (Source)AlSabah

Minggu, Oktober 01, 2006

International Oil Companies are Rushing to Invest in Iraq

Minister Ashahristani officially stated: "I met with representatives of big oil companies during the meeting of OPEC in Vienna and they were ready to negotiate with us about developing our oil fields before the legislation of the gas and oil law is finished. However, the minister did not name these companies. He added that the Iraqi Oil Ministry is currently responsible for running the Iraqi Oil sector and will bound itself to one type of contracts only. This, clearly points out to the dispute over the production process and the sharing agreements. Ashahristani did not comment on what kind of contracts the Ministry will sign with these companies.

Ashahristani added: "there will be many forms of contracts specified to develop our oil fields. The Iraqi oil sector will need about 20 billion USD of investments so that it will be able to double its oil production up to 4.5 million barrel a day during the next five year." He also mentioned: "The current production of oil in Iraq is ranging between 2.3 and 2.4 million barrel a day. But, Iraq is still facing many difficulties like: the need to exhort more efforts to raise up the production rate to their pre-war levels, the deteriorating security status, bad and old technology bad weather and insufficient logistic support."

Officials in the Iraqi oil sector says that many oil fields have been discovered in the south, center, north of Iraq and they are ready to be developed. According to Asahristani, the Energy Committee in the Iraqi Government is writing down the final draft of the gas and oil law which is expected to be passed on to the Parliament before end of the current year. Ashahristani added that his new law will found a new Iraqi national oil company supervising the activities of the oil sector. According to the new law of gas and oil, the Iraqi Ministry of Oil will supervise the planning for the oil sector and design the oil policies instead of carrying out numerous oil operations which will be done by the new Iraqi National Oil Company. The establishing of the new Company was already suggested two years ago by the ex-minister of Iraqi Oil, Thamir Al-Ghadhban. The previous Iraqi National Oil Company was converted to a ministry run by the ex-dictator Saddam Husain in 1987. The role of the new Company will concentrate on: determining the important decisions and policies, strategic planning for the Iraqi Oil industry as well as dealing with international relations and oil investments which include production, exportation and excavation.(Source)Iraq National Congress

25 German Companies are taking part in the Second Kurdistan Fair

The same source stated that these companies reserved an area of 200 square meters with a special wing inside the area of the sponsoring companies [sponsors] where they will display a scheme of action to develop the electrical services inside Sulaymaniyah. It is hoped that they will, also, take part in the campaign of reconstructing and re-qualifying electrical stations in Sulaymaniyah as well as all over Iraq.

The official spokesman of the German companies, Hoshiar Mustafa, said that their purpose is introducing the German companies to ministries government institutions and regional companies. A better introduction will be achieved after the German companies display their products. Then, it will be possible to conclude commercial contracts in future. He said "we expected this to happen through participating in the Fair, especially that these companies are entering the region for the first time. Some of these companies are Lucart Company, Bowels and Visa." (Source)Alsabah

Japan Develop Azzahraa General Hospital in Kut, Iraq

Dr. Matheel Alwan, deputy director of the hospital, stated to "Voices of Iraq" independent news agency: "The grant offered by the Japanese government to Iraq will be utilized to develop the General Hospital in the province by a specialized Japanese company."

He added that the Japanese company will start shipping its equipments from Japan during the second half of next October; 40 containers will arrive in Iraq carrying very modern medical equipments, air condition systems and washing devices.

He said that the development process will include all divisions, after evacuating them from patients and doctors, successively.

Some of the most important sections included in the development are: the delivery and surgery rooms, drainage and air conditioning systems, elevators and other service divisions.

However, Dr. Alwan did not reveal when this development process will start or how long it will take and how much it will cost.

He said that the company promised to supply all divisions in the hospital with modern medical equipments because the current ones have expired.

Azzahraa General Hospital is the biggest one in Wasit with the capacity of 400 beds. In the early nineties of the past century, Japan built modern and developed hospitals in all the provinces of Iraq with capacity of 400 beds and 6 floors each.

The Japanese Government gave Iraq a big financial grant in the form of reconstructing and re-qualifying about 13 hospitals located in different parts of the country including Kurdistan region.

The Japanese Government, also, gave an additional grant to the Iraqi Public Health Ministry in the form of 700 ambulances to improve medical services in all the provinces.

Notably, the health status in Iraq is seriously deteriorating mainly because of the very old building of hospitals and the extreme shortage in medicines and other medical requirements. (Source)Aswat Iraq

Distributing land plots and construction materials to the small factories' owners in Sulaymaniyah, Iraq

He added that the distribution included blacksmiths, iron and steel sellers, aluminum factories and others who used to work in different places inside the city. The city council will supply them with the basic services and the directory of electricity has already started providing the area with electricity lines.

He, also, added "we even specified certain places to build a health centre, a mosque and a big restaurant there."

Baker Mohammad, vice president of Kurdistan Wage Earners Association, said that 10 tons of cement has been specified for each one of them at the cost of 65 USD a ton which is the official price while in black market, a ton worth's 150 USD. Most of the small factories' owners are members in this Association.

It is mentioned that the second Industrial District was built in 2005.

Kurdistan Wage Earners Association is none-government one. It takes care of the craftsmen and the small factories. It was established in 2004.

It is said that there had been some tension between the city council in Sulaymaniyah and the small factories' owners few months ago due to the council's resolution to close these factories which are located down town.(Source)Aswat Al Iraq

MULAI HARI JUM'AT TANGGAL 14 NOV 2008, KAMI MEMBUKA LAYANAN PEMBELIAN DINAR IRAQ

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