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More Iraqi News and Highlights Saturday AM 8-15-20

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Free Zones And The Need To Attract Investment

Saturday 15 August 2020  57  Baghdad / Imad of the Emirate   Although the successive governments issued special legislation granting benefits, incentives, facilities, and concessions that are offered to the foreign and local investor in order to encourage investment in the free zones, reality needs more elements of attraction that facilitate various activities and provide an ideal job market, and create a suitable investment climate in line with The country’s economic interests.

The economic expert, Muzaffar Hosni, indicated that “the development reality that the country desperately seeks is the need for the elements to attract large local, regional and international investments to a promising market.

The availability of job opportunities that are almost unavailable elsewhere around the world, especially since the successive governments issued many instructions that regulate the work of free zones and explain the investment procedures, work mechanism and incentives granted to investors, and at the forefront of these instructions is Resolution No. Free zones, capital invested in them, annual profits and benefits resulting from them from income tax, stamp duty and any other taxes or fees.

Import operations

Hosni added, “Private import and export operations have also been exempted, and the incomes of non-Iraqi workers are exempted by 50 percent of income tax,” noting that “the development of free zones requires taking a number of measures.” One of them is working on activating the regulations and legislation for investing in free zones in line with economic developments.

Work has been made on a project to reconsider Law No. 3 of 1998 and prepare regulations that complement the Authority’s law, in addition to preparing instructions that facilitate the work of investors, along with amendments to the instructions in force. Currently, in a manner that parallels the economic developments that occurred in the Iraqi reality and the international economic situation in the field of freedom of trade and investment and the movement of capital in the world ».

Industrial investment

Hosni stressed, “The importance of working to revitalize industrial investment for all operating free zones as it is a fundamental and important pillar in the field of investment, and it comes first and foremost in advance of other activities.

Working to open new horizons in dealing with the National Investment Commission in a way that guarantees the revitalization of the investment movement in the service of the public interest. And coordination with the Relations and Media Department in the aforementioned body, in order to avoid conflict between the procedures of the National Investment Commission and the Free Zones Authority, especially since both bodies are working to attract investors in the absence of coordination between them, and each of them has its own regulations and instructions.

He drew attention to “the need to work on activating the traffic trade (transit) because of the privileged position that Iraq enjoys, making the country the most important port, which will support national ports and the transport sector, as well as other sectors, and increase coordination between the General Authority for Free Zones and the departments supporting its work, such as customs and taxes. Road transport, maritime agencies, etc., and work in complete flow in accordance with the controls and laws.

Hosni pointed out that «the work to unify the party responsible for making investment decisions in the Iraqi free zones is of utmost importance, due to the multiplicity of the parties responsible for investment in the country, and this diversity led to the foreign investor’s lack of knowledge of the party responsible for the investment, which complicated the situation.

Infrastructure

He explained that «one of the most important obstacles and obstacles that limit the possibility of the free zones’s success in attracting the necessary investments is the lack of public services and infrastructure, which is represented by the lack of roads, transportation, water and electricity services, health, insurance, communications offices, media services, advertisement and promotion locally and internationally, and the lack of cold and regular stores, roofs and squares. The sidewalks and paved roads, all of this made the country not able to provide the required level of infrastructure and services needed by the foreign and local investor.   LINK

Free Ride Culture

Saturday 15 August 2020  78  Thamer Al Himas  The culture of free rides is defined as providing a basis for a beneficiary without providing a community contribution, tax, or financial burden and other contributions. This is what French Professor Mancour Olsen told us. As a model

Ideally, for the foregoing, farmers benefit through their hives in pollinating the fruit blossoms, or the excessive use of free medicines.

Thus, this culture automatically expands at various levels in the scope of taking without compensation, positively or negatively, or seizing free opportunities such as taking advantage of the fall or rise in oil prices, since this commodity is not determined by supply and demand factors, but rather by strategic considerations.

We are now facing a direct challenge in this field; That is, the quorum of wealth distribution to get out of the circle of the agenda of interests and destinies, where the threat to society comes from the inside as much as it comes from the outside, otherwise what is the feasibility of all that we propose or disagree with from projects and programs, if they do not prevent the spread of violence or pollution of the environment or the limit From poverty and tyranny?

This means that the ends are contrary to statements and allegations as they mean, that everyone, regardless of the different references, has contributed to reaching the deadlock. (Dr. Ali Harb / Collusion of Opposites, P.62).

This culture must be placed in a context that is completely harmonious with justice, otherwise it becomes mere obstacles to end up in an obstacle to development, and it is often politicized and here is the danger, when we know that there are (aliens) or those with double or multiple salaries, it is not to raise injustice or reduce the level of poverty, and so on. In exceptional salaries or special allowances, or a retirement that violates the simplest conditions of service and monthly deduction, leading to title privileges.

Then this phenomenon extends to become a culture and an incubating environment for all types of gratuitous or spoiled “as a threat that threatens and haunts us economically and socially” so that we become distributed as customers abroad, to deepen the phenomenon and consolidate as a danger facing the foundation of the real economy as a fixed stone of integration that creates an internal server for us at the expense of external servers.

As a result of this distortion, the parallel economy has worsened, which benefits from being completely out of the tax authority and without financial burdens or contributions that it pays to make it an unnatural free ride like the relationship of beekeepers with farmers. It was and still is this free ride for the people of the parallel economy completely, as it benefits from what the public sector offers and at the expense of its budgets, if not disruptive.

The extraordinary circumstance usually yields the complicity of opposites, and now The matter of free-ride restructuring with fairness or taking it out of the scheduling of interests has become a toxic culture and a result of understanding The sinner for free rides to those who are not eligible under Sharia And constitutionally. LINK

Parliamentary Finance Reveals A Mistake Committed By Al-Kazemi In The New Appointments

Pratha News Agency68 2020-08-15   A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, on Saturday, that the current government is making appointments without any financial allocation in the draft 2020 budget, calling on Prime Minister Mustafa Al-Kazemi to be clear in this file.

Cougar said in a press interview that “the government has not based any law on appointing graduates unless it is included in the 2020 budget,” stressing that “the creation of new job grades must be recognized in the budget and the required funds allocated to it.”

He added, “The budget law for the year 2019 is devoid of any job ranks and only the prime minister and the competent minister are allowed to rely on the degrees of deletion and creation instead of the retired and the deceased.”

Indicating that “the 2020 budget is also without job grades, and therefore the prime minister should be clearer with the House of Representatives about the creation of new job grades without financial allocation.”

http://burathanews.com/arabic/news/374696

A currency counterfeiter, in possession of 40 thousand dollars, was arrested in Baghdad

Pratha News Agency63 2020-08-15  The Federal Intelligence and Investigation Agency announced, on Saturday, the arrest of a suspect dealing in fake currency with $ 40,000 in possession in Baghdad.

A statement by the agency said, “The detachments of the Intelligence Agency represented by the Organized Crime Intelligence at the Ministry of Interior have arrested a suspect who trades in counterfeit currency in the Mansour area of Baghdad.”

The statement added that “he was arrested with the flagrante delicto and in possession of 40 thousand dollars in denomination (100 counterfeit dollars), while he was promoting and trying to sell it, so that the counterfeit currency was seized with a fundamentalist seizure report and the accused was referred to the competent authorities after recording his statements.”   http://burathanews.com/arabic/news/374695

A Deputy Criticizes The Disruption Of Parliament: Things Are Going For The Worse .. And No Parliamentary Awakening

Pratha News Agency61 2020-08-15   On Saturday, Thamer Theban, a deputy from the Al-Sadiqoun Parliamentary Bloc, was surprised by the “disruption” of parliamentary sessions due to the Corona virus, indicating that the country needs to activate parliamentary oversight in light of the current conditions.

“Matters are heading for the worse with regard to the resumption of holding parliamentary sessions, ruling out the existence of a” parliamentary awakening that forces Parliament Speaker Muhammad al-Halbousi to hold regular sessions, “Dhibian said in a statement.

He added, “The Presidency of the Council of Representatives has no right to suspend the sessions,” indicating that “the country is facing a financial and economic crisis and there is a need to activate parliamentary oversight over the government.”

He continued, “Things are heading for the worse and there is no parliamentary awakening to force Parliament Speaker Muhammad al-Halbousi to resume holding the sessions.” Suspect

Theban indicated that “disrupting parliament sessions under the pretext of the Coronavirus epidemic is unacceptable.”

http://burathanews.com/arabic/news/374697

OPEC Oil Prices Are Recorded At More Than $ 45

Pratha News Agency65 2020-08-15  The OPEC organization announced, on Saturday, that the daily OPEC basket price was higher than $ 45 per barrel.

The organization said in a statement that “the price of OPEC’s basket of thirteen barrels of crude recorded $ 45.34 per barrel.”

The organization added that “the price decreased from the previous day, which amounted to $ 45.08, according to the calculations of the OPEC secretariat.”

The Organization of the Petroleum Exporting Countries (OPEC) reference basket consists of the following: Sahara Blend (Algeria), Gerasul (Angola), Orient (Ecuador), Zafiro (Equatorial Guinea), Rabi Litt (Gabon), Iran Iran), Basra Let (Iraq) ), Kuwait Export (Kuwait), S Cedar (Libya), Pony Light (Nigeria), Arabian Light (Saudi Arabia), Morban (UAE) and Miri (Venezuela).  http://burathanews.com/arabic/economic/374686

Al-Kazemi: The Demonstrator Who Demanded A Legitimate Right In A Peaceful Manner Is Ours And We Are From Him

Time: 08/15/2020 16:01:37 Read: 2,184 times  (Baghdad: Al Furat News) Prime Minister Mustafa Al-Kazemi said today, Saturday, that we will not allow anyone, whoever he was, to deprive the Iraqi citizen of his rights.

Al-Kazemi added in his speech while attending the graduation ceremony of the qualifying session for the Interior sectors – the New Iraq, and according to what his media office reported, “The real role of the security forces is to protect the citizens, because they are Iraq, and there is no dignity or honor for Iraq without a free and dignified people who feel the dignity of their land.” And security among its people, and peace of mind in a country that has been plagued by wounds and pain for decades.

He added, “Your mission is to defend the right of every Iraqi to express his opinion, to preserve his dignity, and to stand as an impenetrable barrier against attempts by some to harm our security forces.”

He continued, “We will not allow anyone, whoever they are, to deprive the Iraqi citizen of his rights, or to encroach on the security man while performing his duty.”

Al-Kazemi added, “We have to remember well that the demonstrator who went out to the street demanding a legitimate right in a civilized and peaceful manner, he is from us and we are from him, as he is either our brother, our cousin, or one of our tribe.”

He pointed out that “history is watching us, and our people are looking forward to us, and we have to be up to the responsibility, and we have to make every minute and hour in our time a line to be added to the honorable and ancient history of this country mired in pain and challenges.”

And he stated that, “with your efforts and the efforts of all the original people in the land of Iraq, you will paint the future for which the heroes of our armed forces were martyred in the war against ISIS, and for which our dear and precious people have exerted themselves in various stages.”   LINK

Trebil Achieves Tax And Customs Revenues That Exceeded 2 Billion Dinars Within One Day

Time: 08/15/2020 14:03:02 Read: 2,119 times  {Baghdad: Al Furat News} The Border Ports Authority announced the amount of revenues earned for the state treasury at Trebil border crossing in Anbar province, yesterday.

And she added in a statement met by {Al Furat News} that “the revenues generated amounted to (2,384,794,000) billion Iraqi dinars on August 14th of this month, which was collected from the fees imposed on the movement of commercial exchange in accordance with the controls and instructions by the departments operating at the border crossing.”

And she continued: “Those revenues were distributed by (2,150,206,000) Iraqi dinars for the value of the sums realized from the customs center, and an amount of (234,588,000) Iraqi dinars that were collected from the tax unit.

She pointed out that “this escalation in revenues came as a result of the Border Crossing Authority exercising its duties with planning and high professionalism, in accordance with the provisions of the laws in the provisions of control, auditing, security investigation and joint cooperation between the departments operating at the border crossing, as well as an implementation of the Prime Minister’s directives in maximizing and strengthening state resources and implementing his program.” The government and its reform drive to overcome the current financial and economic crisis. LINK

The Low Exchange Rate Of The Dollar In The Local Markets

MarketEconomy News _ Baghdad  The exchange rate of the dollar decreased on the Al-Kifah Stock Exchange and the local markets, today, Saturday (August 15, 2020).

The prices of the Kifah Stock Exchange – Baghdad recorded 123,300 dinars per 100 dollars.

Selling and buying prices in banking shops:

The selling price of the dollar = 123,500 dinars.

The purchase price of the dollar = 122,500 dinars.

Number of observations 27 Date added: 08/15/2020

https://economy-news.net/content.php?id=21436

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