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IMF projects 2014 will be year of investment for Iraq; Estimates economic growth over next 5 years

economic growth over next 5 years

A citizen’s Deputy Prime Minister for Energy Affairs Hussain al-Shahristani «The International Monetary Fund estimates indicate that Iraq will keep the rate of increase in economic growth over the next five years, while considered that the year 2014 will be a year of investment in the country, called for a non-

Deputy Prime Minister for Energy Affairs Hussain al-Shahristani «The IMF estimates indicate that Iraq will keep the rate of increase in economic growth over the next five years, while considered that the year 2014 will be a year of investment in the country, called the reliance on the oil as a source of economic and sole.

Shahristani said that «the International Monetary Fund (IMF) estimates indicate that Iraq will keep the rate of increase in economic growth over the next five years, indicating that« Iraq’s economic growth has seen a marked increase amounted to 10% during those years.

He added that «the increase has worked to raise the per capita income, which in turn made ​​Iraq in the ranks of middle-income countries», calling for «not rely on oil as an economic and a single, and the exploitation of natural resources other in a balanced way and go to the construction industry through the establishment of factories petrochemicals, fertilizers and rely on agriculture and tourism sectors.

He stressed that «the government began inviting international companies to encourage them to invest», adding that «the year 2014 will be a year of investment in Iraq.

It is noteworthy that Iraq was launched in the month of May of 2010, the National Development Plan Five-Year 2010-2014, aims to reduce disparities and barriers between urban and rural areas, and the establishment of infrastructure and securing social services and jobs, and increase the GDP by 9.38 percent average annual growth during the period with the work plan to diversify the economy which currently depends on oil imports.

Iraq is trying to make its internet access robust digg

Under the vigilance of Iraqi ministry of communication, work has been started to improve the quality of Internet service and to lower fees across the country.

In late February, the ministry has announced that it is intending of building a database of all entities providing Internet service in Iraq in order to regulate the work of these groups, measure their efficiency and the quality of their services, and to monitor their rates, said the deputy general director of the ministry’s foreign relations and media Samir Ali al-Hassoun.

He also said, “The ministry has begun sending “official memos to Internet companies in Iraq to provide details on the number of their offices and agents, towers and locations, and their extent of coverage, quality of services, rates and other technical details.”

Mr. al-Hassoun also stated that by going for a series of regulations and measures, the ministry is trying to bind all such companies into committing to provide the best quality of service to Internet users at reasonable rates.

The ministry has also lowered the monthly fees for Internet service to a third of their original price as well as instructed major companies to lower the fees they charge intermediary companies, to reflect on individuals.

He also added that the new plan is aiming for increasing “the number of private sector companies working in the field of Internet service and using the government fibre-optic network.”

This step is intended to break service monopolies and strengthen competition among Internet companies, al-Hassoun said, and it comes amid ministry efforts to boost the state of communications in the country.

The ministry has also inaugurated an underwater sea cable project which will link Iraq with the outside world through the Arab Gulf. This project “will allow us to expand the number of private companies using the fibre-optic network that links ministries via sea cable, and to provide Internet service to citizens, companies and public bureaus at reasonable rates and with high efficiency and speed in comparison to services offered via satellite”, al-Hassoun said.

Lowering prices, yet ensuring quality

The ministry is continuously taking measures to improve the services private sector Internet companies provide to Iraqis, said Saad al-Shakarji, deputy general director of the ministry’s State Company for Internet Services.

Such measures include periodically monitoring the work of communications companies; monitoring violations of any regulations and instructions; and verifying the fees these companies collect in exchange for services.

Kamila al-Musawi of the parliamentary committee on services and reconstruction also said that currently “internet service provided to citizens, in terms of quality and efficiency, is not up to the level required, and it is high-priced.”

She also told to media that it is crucial to boost “monitoring of all companies and offices supplying Internet services, and to activate appropriate legal measures against suppliers who are not committed to improving their services or who fail to comply with the lower rates.”

She concluded by adding that national economy will be benefitted due to developments in this vital sector.

Barzani signs decision of turning Halabcha into new province in Kurdistan

Barzani signs decision of turning Halabcha into new province in Kurdistan

16 Mar 2014 Share On FacebookShare On TwitterShare On GoogleBarzani signs decision of turning Halabcha into new province in Kurdistan

The President of Kurdistan Region, Masoud Barzani, ratified the decision of the turning Halabcha district into new province in Kurdistan Region.

A statement by KR Presidency office received by AIN cited “In coincidence with annual ceremony of the Chemical attack against Halabcha by the former regime, Barzani signed the decision of making this district as a new province within KR.”

Updated 16 Mar 2014 | Soruce: AIN |

McDonald’s and Pizza Hut plan to enter Iraq and Baghdad

McDonald’s and Pizza Hut plan to enter Iraq and Baghdad, the most prominent candidates to host commercial Alamathma

17/03/2014 17:29

McDonalds and Pizza Hut plan to enter Iraq and BaghdadFollow-up – and babysit – announced the national body for investment, on Monday, Post 10 American companies, notably the (McDonald’s) and (Pizza Hut), in addition to the companies Hospitality and Tourism conference in development opportunities for special privileges in Iraq, and with an eye to nominate a number of provinces, most notably Baghdad to enter those brands which, the U.S. Embassy confirmed that the existence of such a global companies in Iraq will foster the economic sector in Iraq.

The head of the national body for investment Sami al-Araji: “This conference is the first of its kind in Iraq because of the nature of the investing companies and the quality of investments raised,” noting that “the Authority met in (21/04/2014) with a delegation from the U.S. Commerce Department and the U.S. embassy in Iraq Building the Authority and discussed how to enter the investment in Iraq, particularly with regard to opportunities privileges (brand). ”

Araji said that “the conference, which will continue two days and involving about 10 U.S. companies specializing in the field of restaurants Kmcdonnalds and Pizza Hut, as well as corporate hospitality and tourism included an explanation about how to deliver the basic concepts of the franchise rights to use the mark, or the name or trading system U.S. and management of the activity in Iraq. ”

He said al-Araji said, “The conference included two sessions, the first session progressed where U.S. companies donor privileges detailed explanation about the nature of the granting of the mark and the franchise and display what is there to have the services of different business than during a meeting with a number of Iraqi businessmen working in the Iraqi private sector to contract agreements.”

He said al-Araji, “while the second session have included the launch of Iraqi private sector potentials to exploit that mark in terms of space and staff and expertise available to him and other things logistics that must be known to the company granting the privilege to be able to lay the foundations for an agreement, which can not be Under the agreement, which will be held under the auspices of the government Iraqi uses other person or entity of the mark only agree with him that the U.S. company donor. ”

He said al-Araji, that “the body was nominated a number of provinces, most notably the capital of Baghdad to enter those brands it as a first step followed by other steps to cover those brands all over Iraq,” noting that “the nomination is based on the purchasing power of citizens and constituents logistics for each province.”

For his part, charge d’affaires at the U.S. embassy commercial (Jean Droushr): “The existence of such a global companies in Iraq will foster the economic sector in Iraq because of its size and big name.”

He called Droushr Iraqi businessmen to “Investment opportunity to obtain the franchise rights for American brands in Iraq optimally, which provides various services for the Iraqi family even up to open Malls and universal in all governorates of Iraq to achieve its usefulness for all parties.”

He Droushr that “the Iraqi market, promising market and a breeding ground for the entry of international companies and the PPC high.”

Mentions that there are approximately one million company concessionary in the United States, including 50% of the sales volume in the U.S. market and local employees, representing 2.6% of the labor force in the U.S. private sector, as companies are privileged this contributes to 4% of the total production of the domestic annually there.

M. J

Iraq comes 2nd in importing Turkish jewelry

Iraq comes 2nd in importing Turkish jewelry

Home » Business » Iraq comes 2nd in importing Turkish jewelry // By Ibrahim Khalil on March 15, 2014

iraq comes nd in importing turkish jewelry Iraq comes 2nd in importing Turkish jewelry

( Iraq occupied the second position worldwide in terms of importing the jewelry from Turkey.The reports of the Turkish Union revealed that ”The Turkish exports of jewelry achieved an increase of 9% comparing to same duration in 2013.””The United Arab Emirates occupied the first position in the world in terms of importing the jewelry from Turkey where the UAE imported Turkish Jewelry that value USD (75,219,000) while Iraq occupied the second position where Iraq imported jewelry from Turkey equals to USD (66,505,000) then Libya with imports equal to USD (20,427,000),” the reports pointed out.

AB Maritime Plan Basra-Dubai Ferry Route

AB Maritime Plan Basra-Dubai Ferry Route

Posted on 21 March 2014. Tags: Basra, dubai, Maritime Transport, shipping, tourism

AB Maritime Plan Basra-Dubai Ferry Route

By John Lee.

Arab Bridge Maritime, the joint venture established by the governments of Iraq, Jordan and Egypt in 1985, is planning a two ferry service between Basra and Dubai.

The venture will initially cost $2 million per year based on the hiring cost of the ferries, and if successful the ferries will be purchased, according to AB Maritime director Hussein al-Souob.

Al- Souob noted that the company had gone from strength to strength, with capital rising to $100 million as of last year.

(Source: Daily News Egypt.)

Containerised Cargo using Shatt Al Arab

Containerised Cargo using Shatt Al Arab

Posted on 13 February 2014. Tags: Maaqal, Maqal Port, North America Western Asia Holdings (Nawah), Ports, Shatt al-Arab, UAE, United Arab Emirates

NAWAH Port Management (NPM), a business unit of North America Western Asia Holdings (NAWAH), has completed the offloading of the third container vessel running weekly service between the United Arab Emirates and the company’s container terminal at Al Maqal Port in urban Basra.

Historic Al Maqal Port, also known as the Port of Basra and located on the 120-mile-long Shatt Al Arab waterway, has served as an active port since 1919 for a wide array of general cargo – from construction material to dates – but these voyages mark the first-ever movement of containerized cargo up the main river running through southern Iraq.

Nicholas Kunesh, the head of NAWAH’s port management business line, said:

“NPM’s Berth #14 operation is serving the growing demands of both local merchants and international firms seeking a conveniently close port with streamlined customs clearance.

“This week’s arrival of container vessels is truly a significant one for the citizens of Basra as this city is restored to its rightful position as a key trading center on the Gulf.”

Laden with 40-foot and 20-foot containers as well as general cargo, three UAE-based vessels – the Mariam, Sea Soul and Inchon – now operate regularly scheduled, feeder service from UAE’s Jebel Ali and Hamriyah ports to Al Maqal Port.

Efficiently servicing the surge of a full spectrum of equipment, materiel and consumer goods moving into southern Iraq, NPM’s modernized port operations support all containerized, break-bulk and project cargo.

UAE shipping companies Sea Sands Shipping and Trans Act Shipping are offering the inaugural container transport services from the UAE to Al Maqal Port, leveraging NPM’s modernized berth.

Equipped with brand new equipment such as the Liebherr 64-ton mobile harbor crane and reachstacker and customs facilities co-located within the berth’s management building, NPM’s terminal operations allow streamlined operations and customs clearance, maximizing customers’ experience through world-class capabilities, speed, efficiency and reliability.

(Source: Businesswire)

Kuwaiti Company to Clean up Basra

Kuwaiti Company to Clean up Basra

Posted on 07 March 2014. Tags: Basra, Kuwait, Kuwait National Cleaning Company

By John Lee.

The Kuwait National Cleaning Company has reportedly won a three-year, 207-billion-Dinar contract to remove trash from Basra city.

According to a report from Alsumaria, the company beat six competitors from Germany, Lebanon, Turkey and Iran.

The Governor’s advisor for services, Mohamad Jaafar, said:

“Al Basra’s Governor, Majed Al Nasrawi, reiterated on numerous occasions the importance of dealing with the company according to standards of quality, timely delivery and cleanliness instead of the weight of garbage collected and buried in landfills. The latter approach has proven to be a failure when it was adopted with Gifra, the Turkish cleaning company in 2010.“

The Kuwaiti company has agreed to employ many of the existing municipal workers in providing the service, with the remaining workers re-allocated to “public schools and certain sanitary centers“.

(Source: Alsumaria)

Iraq Calls For Foreign Investment For New Housing

Iraq Calls For Foreign Investment For New Housing

Posted on 24 March 2014. Tags: construction, Housing, Iraq, Ministry of Construction & Housing, real estate

By John Lee.

Iraq’s housing minister Mohammed al-Darraji says that the country is planning to spend $5bn on new housing units in the next 3 years, but that the required 2.5 million new units will not be complete on time to meet demand, Rebuilding Iraq reports.

Currently there will only be 130,000 new units by next year, and Minister al-Darraji has called on investors in the UAE to enter the market, emphasizing what he saw as an attractive aspect of housing development in Iraq: that new houses were guaranteed to be purchased rapidly because of demand.

Minister Mohammed al-Darraji was speaking at the Housing Summit in Dubai.

(Source: Rebuilding Iraq)



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