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Iraq raises state-owned companies for privatization and investment to cope with the lack of imports [audio]
2015/10/10
[Baghdad-where]
The Iraqi government plans to launch subsidiaries to privatization and investment in a bid to meet the shortfall in its imports due to the fall in world oil prices.
A spokesman for the Office of the Prime Minister Saad al-Hadithi told all of Iraq [where] "a few days ago issued a decision of the Council of Ministers with regard to the integration of the Ministry of Industry and Minerals self-financing companies, this decision came as a prelude to open investment and privatization of these companies through put up for subscription or internal and external investment." .
He explained, "The downsizing and consolidation of these companies is an important step process to find a suitable atmosphere for the start of the privatization process and thus activating the role of investment, including contributing to the re-production of these factories that once covered a large part of the needs of Iraq."
Sabri stressed "the need to find a product and the consumer and customs tariff protection laws and these things are complementary and complementary to restructure the economy and this work is carried out successively and there legislative bush in the subject and not only executive action".
Spokesman promised Prime Minister's Office investment law to be presented to parliament for approval after the amendment as "a fundamental law to find a legal environment conducive to investor attraction and we have to take into consideration that the Iraqi market must be getter for investment and this are not taken, but finding a suitable legal environment and create incentives and cheerleaders Investment investment to enter the Iraqi arena ".
The Council of Ministers decided in its meeting last Tuesday merging of the Ministry of Industry and Minerals of public companies and self-funded with some of them, according to the principle of limbering in public administrations and the similarity of artistic activity and geographic location and rename the merged companies to suit the business.
Iraq is facing pressure in the provision of financial resources, especially after the drop in oil prices in July 2014, which depends on imports of crude increased by 90% in the construction of its budget with the need to cover the war on terrorism and the provision of services and staff salaries and expenses of 2 Almottagaeidin.anthy
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2015/10/10
[Baghdad-where]
The Iraqi government plans to launch subsidiaries to privatization and investment in a bid to meet the shortfall in its imports due to the fall in world oil prices.
A spokesman for the Office of the Prime Minister Saad al-Hadithi told all of Iraq [where] "a few days ago issued a decision of the Council of Ministers with regard to the integration of the Ministry of Industry and Minerals self-financing companies, this decision came as a prelude to open investment and privatization of these companies through put up for subscription or internal and external investment." .
He explained, "The downsizing and consolidation of these companies is an important step process to find a suitable atmosphere for the start of the privatization process and thus activating the role of investment, including contributing to the re-production of these factories that once covered a large part of the needs of Iraq."
Sabri stressed "the need to find a product and the consumer and customs tariff protection laws and these things are complementary and complementary to restructure the economy and this work is carried out successively and there legislative bush in the subject and not only executive action".
Spokesman promised Prime Minister's Office investment law to be presented to parliament for approval after the amendment as "a fundamental law to find a legal environment conducive to investor attraction and we have to take into consideration that the Iraqi market must be getter for investment and this are not taken, but finding a suitable legal environment and create incentives and cheerleaders Investment investment to enter the Iraqi arena ".
The Council of Ministers decided in its meeting last Tuesday merging of the Ministry of Industry and Minerals of public companies and self-funded with some of them, according to the principle of limbering in public administrations and the similarity of artistic activity and geographic location and rename the merged companies to suit the business.
Iraq is facing pressure in the provision of financial resources, especially after the drop in oil prices in July 2014, which depends on imports of crude increased by 90% in the construction of its budget with the need to cover the war on terrorism and the provision of services and staff salaries and expenses of 2 Almottagaeidin.anthy
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