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Iraq Focuses on Investment to Build Its Economy
02/06/2011 19:30
Baghdad, June 2 (Rn) - Iraq seeks to focus on Arab and foreign investments on their land to build its shattered economy over the years of wars and sanctions.
Iraq faces major challenges, at a time when plans to attract international companies to invest, he must take security alone without help Americans who adopted them for eight years, where it is supposed to leave Iraq by the end of the U.S. military this year.
And tries to Prime Minister Nuri al-Maliki's review of his muscles during the visits of inspection to some financial institutions, which is an interface to attract investors.
Maliki says that "the financial institution in Iraq is the formation of the heart of the process of reconstruction and investment in the country."
Maliki's statement came after a visit to the Commercial Bank of Iraq in Baghdad, accompanied by a number of media, including the Kurdistan News Agency (Rn).
He declined a lot of investors are pumping money into projects within Iraq because of the violence that followed the fall of the former regime in the spring of 2003, and the political crisis that lasted for most of 2010 until a new government formed an incomplete last December.
Maliki said the Commercial Bank of Iraq "must have heard the global could be achieved through the great efforts made by many officials in the bank and address flaws that could constitute a breach of this institution for the benefit of building and sustainability and continuity."
The total investment, which target the Iraqi government for this year's $ 30 billion, mostly in the sectors of energy, housing and agriculture.
Maliki said that "the financial institution that constitutes the heart of the process of construction and investment ... we will have a follow-up to all banks and all state institutions."
"But the banks is liquidity and the cover and facilities for the process of reconstruction and security for companies that wish to work in Iraq."
There are about 36 heads a small private bank limited funds charge high interest and usually refuses to lending in the absence of an effective judicial system to settle disputes.
Dominated by two government two banks on the banking system in Iraq, the Bank of Mesopotamia and Rasheed Bank.
And Iraq is planning to modernize its economy, especially after the signing of oil deals aimed at increasing oil production to four times its current size. Balbrgem that the country's infrastructure is still crumbling after decades of war and sanctions.
Investors also complain of a large number of manpower absorbed expect when they enter into joint ventures with the government.
The National Commission for Investment and placed in the earlier investment plan includes 750 projects worth $ 600 billion to rebuild Iraq.
The Board made a five-year plan worth $ 186 billion, including $ 86 billion comes from foreign investment and domestic private investments.
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02/06/2011 19:30
Baghdad, June 2 (Rn) - Iraq seeks to focus on Arab and foreign investments on their land to build its shattered economy over the years of wars and sanctions.
Iraq faces major challenges, at a time when plans to attract international companies to invest, he must take security alone without help Americans who adopted them for eight years, where it is supposed to leave Iraq by the end of the U.S. military this year.
And tries to Prime Minister Nuri al-Maliki's review of his muscles during the visits of inspection to some financial institutions, which is an interface to attract investors.
Maliki says that "the financial institution in Iraq is the formation of the heart of the process of reconstruction and investment in the country."
Maliki's statement came after a visit to the Commercial Bank of Iraq in Baghdad, accompanied by a number of media, including the Kurdistan News Agency (Rn).
He declined a lot of investors are pumping money into projects within Iraq because of the violence that followed the fall of the former regime in the spring of 2003, and the political crisis that lasted for most of 2010 until a new government formed an incomplete last December.
Maliki said the Commercial Bank of Iraq "must have heard the global could be achieved through the great efforts made by many officials in the bank and address flaws that could constitute a breach of this institution for the benefit of building and sustainability and continuity."
The total investment, which target the Iraqi government for this year's $ 30 billion, mostly in the sectors of energy, housing and agriculture.
Maliki said that "the financial institution that constitutes the heart of the process of construction and investment ... we will have a follow-up to all banks and all state institutions."
"But the banks is liquidity and the cover and facilities for the process of reconstruction and security for companies that wish to work in Iraq."
There are about 36 heads a small private bank limited funds charge high interest and usually refuses to lending in the absence of an effective judicial system to settle disputes.
Dominated by two government two banks on the banking system in Iraq, the Bank of Mesopotamia and Rasheed Bank.
And Iraq is planning to modernize its economy, especially after the signing of oil deals aimed at increasing oil production to four times its current size. Balbrgem that the country's infrastructure is still crumbling after decades of war and sanctions.
Investors also complain of a large number of manpower absorbed expect when they enter into joint ventures with the government.
The National Commission for Investment and placed in the earlier investment plan includes 750 projects worth $ 600 billion to rebuild Iraq.
The Board made a five-year plan worth $ 186 billion, including $ 86 billion comes from foreign investment and domestic private investments.
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