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Iraqi News Tuesday AM 12-8-20

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Parliamentary Finance Comments On The Rise Of The Dollar And The Possibility Of Its Float

Time: 12/08/2020 12:23:49  Read: 6,942 times   {Baghdad: Al Furat News} The Parliamentary Finance Committee commented on the recent rise in the exchange rate of the dollar against the dinar in Iraq.

The exchange rate on the Al-Kifah Central Stock Exchange in Baghdad is currently 1270 dinars to the dollar.

“We do not know what are the reasons for the high exchange rate of the dollar or the government’s intention to raise the exchange rate of the dollar to 1,300 dinars, and this news remains unconfirmed to us, but it is certain that the increase in demand for it raises the price,” said committee member Ahmed Hajj Rasheed.

He ruled out “the possibility of taking action to float the dollar in Iraq.”

It is noteworthy that what is meant by floating the currency (the dollar or other) is to make the exchange rate of this currency fully liberalized, so that the government or the central bank does not interfere in determining it directly, but rather it is automatically secreted into the currency market through the supply and demand mechanism that allows setting a price Exchange of the national currency against foreign currencies.

The owners of banking offices attributed the high exchange rate of the dollar in Iraq recently to the increase in demand for it by citizens and merchants alike, with news of the Ministry of Finance’s intention to raise the exchange rate of the dollar to 1300 dinars.

It is noteworthy that the reporter of the Finance Committee, Ahmed Al-Saffar, revealed to {Al-Furat News} the day before yesterday, Sunday, that “one of the reasons for the government’s delay in sending the draft fiscal budget for 2021 is the existence of understandings between the Ministry of Finance and the International Monetary Fund to update the exchange rate of the Iraqi dinar” usually it “a sensitive issue It must be updated in a way that does not cause inflation. ”   LINK

State Invites The President Of The Federal Reserve To Visit The Country

Tuesday 08 December 2020  100  Baghdad: Morning  Foreign Minister Fouad Hussein invited the President of the American Federal Bank, Kimberly Reid, to visit Baghdad, while on the sidelines of the Manama Dialogue Forum 2020, he met with the US President’s envoy to Syria, Joel Raebon.

The Ministry’s media office stated that “the foreign minister met with the president of the bank and stressed the importance of the joint relations between Iraq and the United States of America, and the need to upgrade them in various fields, especially the development of banking relations between the two sides,” expressing his “aspiration to benefit from the banking expertise of American banks.” The aspects of implementing the memorandum of understanding between the aforementioned bank and the Ministry of Finance that were signed in 2019 were discussed, and how to benefit from the amount allocated in the memorandum in the fields of agriculture, investment, trade and others. The minister invited the bank’s president to visit Baghdad to discuss cooperation files between the bank and the Iraqi government.

In his meeting with the US President’s envoy to Syria, Foreign Minister Fuad Hussein stressed that the interest of Iraq and the neighboring countries requires ending the Syrian crisis.

During the meeting, the two sides discussed ways to reach a political solution to the Syrian crisis, and the minister expressed the Iraqi government’s interest in ending the ongoing conflict in Syria, resolving the issue of the displaced, and creating a safe environment for the return of the displaced to their areas of residence, while expressing appreciation for all the peaceful efforts aimed at ending the suffering of the Syrian people. .  LINK

The Cabinet Secretariat Announces A Holiday

Time: 12/08/2020 15:24:58 Read: 6,201 times   {Baghdad: Al Furat News} The General Secretariat of the Council of Ministers announced that the official working hours will be suspended on Thursday 10/12/2020.

In a statement, the Euphrates News Agency received a copy of it, the General Secretariat stated that “the official working hours were suspended today, Thursday, on the occasion of the third anniversary of the liberation of Iraq from the gangs of the terrorist organization ISIS (Victory Day).”  LINK

The Joint Statement Issued By The Meeting Of The Three Presidencies And Leaders Of Political Blocs

A meeting was held at the Government Palace in Baghdad, today, Tuesday, for the President of the Republic, the Prime Minister, the Speaker of Parliament, and leaders of political blocs.

During the meeting, current developments and developments were presented, as were the general lines of the federal budget and the outstanding problems between the federal government and the Kurdistan Regional Government.

The meeting stressed that Iraq is going through exceptional circumstances, as a result of the global economic crisis that resulted from the spread of the Corona epidemic, and that economic reform is the necessary solution that must be adopted within the scope of Iraqi political and social solidarity that reflects the unity of the position before the main issues.

The meeting pointed out to support government measures to achieve economic reform in the draft federal budget law for the fiscal year 2021, in a way that guarantees solutions to fortify the economy in the face of crises.

The meeting expressed its support for the continuation of the dialogue between the federal government and the Kurdistan Regional Government, to solve the outstanding problems, and to ensure a fair treatment of those problems in accordance with the constitution.

The Prime Minister, Mr. Mustafa Al-Kazemi, gave a presentation on the comprehensive national dialogue initiative adopted by the government in order to pave the political, security and social environment, to hold free and fair early elections and protect them from violations, and to achieve the highest levels of transparency and justice in them.

The Media Office of the Prime Minister,8 – December – 2020   https://pmo.iq/press2020/8-12-202001.htm

Iraq Prepares Its Industrial Cities For Investment

Tuesday 08 December 2020  180   Baghdad: Shatha Al-Janabi   Iraq is close to announcing new investment opportunities in the industrial cities in the provinces, with the aim of attracting foreign and local investments to implement promising projects in the country.

The director of planning and studies at the General Authority for Industrial Estates affiliated with the Ministry of Industry, Amal Al-Bazouni, told Al-Sabah: “The authority is working to transform industrial cities into model cities with integrated services to be civilized cities, as well as paying attention to industrial development as a basic source of national income through resettlement.

Factories in cities to serve as integrated industrial complexes in which all the elements of basic services and equipment are available, and work to encourage the private sector to invest in them. Currently, we are working to follow the issues of urban investment.

She added, “The Commission is following up with the Anbar Governorate and the relevant departments in it to deliver basic services to the borders of the industrial city in the province, which has an area of 3000 dunums, and there is great cooperation by the governor in this aspect, as there are many investment opportunities and privileges offered in the province to investors.”

She indicated, “The commission is seeking to announce the industrial city in Najaf soon as an industrial investment plan, and its announcement has been delayed due to the delay in the legislation of the industrial cities law and the settlement of the return of its land, indicating that the city has a strategic location It is close to the Najaf Sea, its fertile land and close to the sources of infrastructure, with an area of 6000 dunams. ”

Al-Bazouni explained that “the commission is taking measures to establish another industrial city in Nineveh governorate, with an area of 425 dunams, and has taken the initiative to submit a working paper and plan that includes the required procedures, from preparing the site, studying it, and clearing it of concerns, while preparing feasibility studies and submitting plans for the entire city.” .  LINK

Stopping Uncontrolled Imports Supports Government Production

Tuesday 08 December 2020   29   Baghdad: Morning  Industrial Development Consultant Amer jeweler proposed to control the unruly such as cars and public materials to take into account to reduce the gap between oil revenues and central sales bank of dollar imports, and will not get problems if stopped or been reduced import many unnecessary materials in return to encourage and support the production of alternative paragraphs. ”

Profitability and Service

He added, “The reality of the situation in the country requires the adoption of the principle of competition between ministries and all government institutions and governorates in terms of productivity and quality of services, which will be reflected in providing more goods and services in exchange for the same expenses, and following up on the departments that did not achieve the goals of the institutions that took over their management and reconsidering the methodology of managing these.” Institutions towards profitability, good service and lower costs. ”

Local production

He stressed the serious and real directness to enable, support and protect the establishment and operation of small and medium enterprises, which will contribute to reducing the drain of foreign currency exit and improving the domestic product and moving the market while providing job opportunities and cutting dependence on employment, and the time has come for the Iraqi government to take effective and deterrent measures to recover the money stolen by the corrupt.

To serve the people of Iraq, and we must not miss the retrieval of funds, stocks, real estate, companies, projects and shares belonging to the former regime outside Iraq, which were deposited and registered in various names, methods and circumvention methods.

Entrepreneurs

Al-Jawahiri showed the importance of allocating lands and sites while providing services for them to be used by entrepreneurs and owners of ideas and projects, to enable them to start and continue successfully business, as well as organizing and providing water, sprinkler irrigation equipment and electricity for desert lands, dividing them and distributing them among entrepreneurs and owners of project ideas for agricultural purposes and supporting their marketing capabilities And for purposes Export. ”   LINK

Industrial Fraud 

Tuesday 08 December 2020   33   Subhi Jassim  Addressing the challenges facing the economy has become a necessity to run out of the problems that confuse all economic operations.

The challenges have different types, tools, names and sections that ultimately fall into the category of corruption, and perhaps one of these doors is the door of industrial fraud, which is part of corruption, but it is more dangerous than others, as it harms the interests of the country and disrupts various local industries.

The industrial fraud that some of the weak-minded are adopting, aims to end the local industry, which we desperately need to revive to move the various economic sectors.

Industrial fraud practices undermine the reality of local economic development, and contribute to the spread of goods and merchandise of unknown origin.

Obviously, industrial cheating has the upper hand in destroying the country’s local industries, which leads to the inability of the national product to compete, and this leads to layoffs, increased suffering, and the addition of new groups of workers, to the army of the unemployed. Progress and take it back.

Here, concerted efforts are required in a way that helps and supports the intervention to prevent every industrial fraud that takes place, which requires activating the specialized agencies to contribute effectively to protecting the economy. the National.

Especially since the factory goods are not commensurate with their real prices, which incurs major financial losses for the national economy.

Cooperation is required between the security services and the citizens in this joint disruptive to the reality of the economy, in return, the responsible party must grant incentive bonuses to those who provide real information and bear fruit by preventing fraud, no matter how large its size.

The national effort must be clear to revive the axis of economic advancement, represented by the creation of quality national industries capable of moving the country to a more advanced stage commensurate with the size of the wealth that Iraq possesses, and no form of fraud is allowed Industrial.

The Iraqi market deserves to display the best products and are manufactured according to the best international specifications, and it is not allowed to display anything without that.   LINK

Discussing Customs Procedures And Automating Border Crossings

Tuesday 08 December 2020  26  Baghdad: Morning The head of the Border Ports Authority, Major General Dr. Omar Al-Waili, and the head of the Baghdad Chamber of Commerce, Firas Rasul Al-Hamdani, examined ways to enhance the reality of work in the ports and update them according to advanced visions, by adopting the advanced and approved work mechanisms in the countries of the developed world.

The meeting can be described as fruitful, and we discussed with the head of the Border Ports Authority the customs procedures, the automation mechanism at the border crossings, the imposition of the rule of law, and the change in the reality of the workings of the ports in a way that enhances the country’s economic capabilities.

Al-Hamdani pointed out, “The issue of reviewing the fees paid to the border crossings, as well as reviewing the instructions for importing gold, the approved mechanisms, and standing at the demands of the specialized commercial family in this regard, and the issue of facilitating the passage of Iraqi trucks and finding quick solutions to solve this problem was raised.”     LINK

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