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More Iraqi News Iraqi News Thursday PM 3-17-21

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Finance Committee: Kurdistan Region Will Not Deliver 460,000 Barrels Of Oil To Baghdad

Energy  Economy News – Baghdad  The reporter of the Finance Committee in the House of Representatives, Ahmed Al-Saffar, revealed that the Kurdistan Regional Government delegation rejected a proposal made by Shiite parties to deliver 460 thousand barrels of Kurdistan Region oil to Baghdad daily.

Al-Saffar said in a statement reported by Rudaw Network and seen by Al-Iqtisad News, that “the Kurdistan Region delegation, headed by Deputy Prime Minister Qubad Talabani, who arrived in Baghdad last night (March 16, 2021), adheres to the government text regarding the share of the incoming Kurdistan Region. In the draft Iraqi federal budget law for the year 2021. ”

The aforementioned text stipulates that the Kurdistan Region will deliver 250 thousand barrels of oil per day at the price of the SOMO company, in addition to half of the proceeds of the border ports and other federal revenues of the Kurdistan Region to the Iraqi government, and the financial dues between the federal government and the Kurdistan Region are liquidated for the period from 2004 to 2020, so that the Iraqi federal government Spending the Kurdistan Region’s share of the budget.

A rapporteur of the Parliamentary Finance Committee confirmed that the Kurdistan Regional Government delegation rejects the proposal of Shiite parties to the Kurdistan Region to deliver 460 thousand barrels of oil daily to Baghdad, and adhere to the text contained in the draft federal budget law for the year 2021.

Ahmed Al-Saffar said that the Finance Committee in the Iraqi Parliament will meet today, Wednesday, to discuss issues related to the Iraqi federal budget bill for 2021.   Number of observations 126 Date of addendum 3/17/2021  https://economy-news.net/content.php?id=24489

The Iraqi Exhibitions Company Holds An Introductory Seminar For The Registration Program For Companies And Factories Importing To Iraq

Economie| 02:58 – 17/03/2021  BAGHDAD – Mawazine News  The Ministry of Trade announced, on Wednesday, that the General Company for Fairs and Commercial Services of Iraq held an introductory seminar on the program for registering companies and factories supplied to Iraq in partnership with the German company (TUV) Rheinland to grant the registration certificate in the presence of the Chairman of the Parliamentary Economic and Investment Committee Ahmed Al-Kanani and the General Manager of the company Sarmad Taha Saeed and a number of representatives of the relevant ministries.

The General Manager of the Iraqi Exhibitions Company, Sarmad Taha Saeed, said in his speech during the seminar, “The implementation of this program will contribute to a large extent in the development of the import sector through which the presence of those factories and companies supplied to the Republic of Iraq is confirmed through the on-site inspection of those Factories and companies exporting to Iraq. ”

Saeed revealed, “The program has several advantages and benefits, including making sure of the presence of the exporting factories and companies and that they are not shell factories or companies, as well as ensuring the licenses that qualify factories and companies to export materials, products of factories, companies, agents and their authorized distributors, and the health of the Iraqi origin, importers, companies’ agents and distributors.

And to ensure that the goods exported to Iraq are not smuggled or obtained illegally outside Iraq. The program also limits the importation of materials with signs and counterfeit brands by the weak souls, thus providing the best product to the Iraqi consumer.

For his part, the Director of the Import Department at the Iraqi Exhibitions Company presented, “A brief overview of the program, its importance and the purpose of its implementation,” explaining that “Law of the Ministry of Commerce No. 37 of 2011 specifies a number of tasks for the Ministry of Trade, including drawing up foreign and domestic trade policy in line with economic policies. State public. ”

In their turn, the Director of the Computer Department at the exhibition company, and the representative of the German company TUV, gave a detailed explanation of the program, which dealt with introducing the electronic system for granting import and export licenses, its relationship with the program, the steps for registering factories and suppliers and the approved authority for issuing certificates of registration of factories and companies, the schedule for implementing the program, as well as The documents and licenses granted to it in its mother country and to ensure the origins of those factories and companies supplied to the Republic of Iraq, and this program also provides protection for the consumer and the importer as well as the agents and distributors inside Iraq.

TUV is an independent company in the field of inspection, testing and certification services, with nearly 150 years of experience in conformity assessment and inspection services to facilitate access to the Iraqi market, as the company owns more than 500 offices spread all over the world and more than 20,000 employees and experts.   https://www.mawazin.net/Details.aspx?jimare=145904

Iraq And Hungary Sign A Comprehensive Economic Agreement

Economie| 12:40 – 17/03/2021  BAGHDAD – Mawazine News  The Ministry of Trade, Alaa Ahmed Al-Jubouri, announced, on Wednesday, the signing of a comprehensive economic agreement with the Hungarian ambassador to Iraq.

Al-Jubouri said, according to the official agency, that “an agreement was signed with the Hungarian ambassador, and the agreement will be comprehensive between the two parties, as the importance of this agreement was discussed with the ambassador, its importance and the number of countries that signed it.”

He added, “Discussions were held with the Hungarian side in economic relations, as trade exchange between the two countries reached 45 million dollars,” indicating that “there is an idea to hold a hypothetical conference between businessmen of the two countries and to study investment opportunities.”

Al-Jubouri added that “the embassy praised the decision to grant a visa upon arrival at the airport, where it must be economically invested,” noting that “there will be other investment meetings, and the ministry is about to open an international center for Iraqi trade, and this will regulate commercial work in a large way.” There are centers for countries that are interested in the Iraqi economy. ”

He explained, “There will be centers for countries that are interested in the Iraqi economy, and this will reduce the red tape and corrupt episodes that led to mistrust, as the dealings are direct through those centers.” https://www.mawazin.net/Details.aspx?jimare=145883

Saleh Reveals A Presidential Effort To Recover The Stolen Money From Iraq

Political| 11:31 – 17/03/2021  Baghdad – Mawazine News  The President of the Republic, Barham Salih, revealed, on Wednesday, a presidential effort to recover the looted funds from Iraq.

Saleh said, in a television interview, that “the file of corruption is serious and huge and needs broader and deeper treatments, but with all these challenges there were procedures and there are courts that worked to rule in important cases of corruption.”

He added, “I am in the Presidency of the Republic, in the process of putting the final touches on a legal code that we will discuss with Parliament, to put in place mechanisms to recover money stolen from Iraq, which may have gone to capitals and investments abroad.”  https://www.mawazin.net/Details.aspx?jimare=145874

Dollar Is Rising Again

Time: 03/17/2021 10:16:14 Read: 4,277 times  {Baghdad: Al Furat News} The exchange rates of the dollar rose today, Wednesday, on the main stock exchange in Baghdad.  The central Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad registered 145,800 Iraqi dinars for 100 US dollars.

While the Central Kifah Stock Exchange recorded 145700 Iraqi dinars during its opening on Tuesday morning

The buying and selling prices witnessed a rise in the exchange shops in the local markets in Baghdad, where the selling price reached 146,250 Iraqi dinars, while the purchase prices reached 145,250 dinars per 100 US dollars.   LINK

Efforts To Create A National Incubator For Iraqi Expatriate Investors

Wednesday 17th March 2021  79  Baghdad: the pillar of the emirate  Foreign and domestic investment in Iraq is facing a stumbling block due to the lack of trust between it and the private sector, so it needs real partnerships and agreements, and the creation of a national incubator with expatriate Iraqi investors that includes upgrading projects to benefit Iraqi society, according to the economic advisor to the prime minister, Dr. Mazhar Muhammad Saleh.

Who said in a statement to “Al-Sabah”: “The growth of the Iraqi contractors and investors sector in a faltering climate for two decades due to failures in confidence between the foreign and local investor, and he needs a capable and developed private sector to enter into a partnership with him and an agreement that guarantees the advancement of the private sector. ».

Stressing that this issue is sensitive, and that the local investor needs a high intellectual and professional base that will attract real partnerships.

National incubator

He added, “There is an Iraqi expatriate investment that has learned from the arts of technology and a high-level business environment, believing that one of the best channels is how to create a national incubator for Iraqi expatriate investors, and to have its own institution, that is, not to be emergency or speculative forces at the expense of profiting in the Iraqi economy.” ».

He also stressed «the need for this sector to link between the foreign investor and the national investor through national expatriate investment, which has obtained economic leaps in stable environments from the countries of the world».

The legislator

Saleh also explained the reasons for the issuance of Public Companies Law No. 67, which requires the legislature to cancel any state-owned company whose losses are consecutive over a period of three years, and then the decision is either to restructure or merge these losing companies or find a partner or convert them into a public joint stock company, in order to Improving the productivity of these losing companies through privatization, that is, when the company is expired or expired, but it has some assets when this is privatized in a way that improves the possibility of

The company. He pointed to “the problems facing stumbling companies, which are either mismanagement, production, or the problem in operating, that is, in the efficiency of those companies, although the focus is always on the issue of ownership.”

The national interest

Saleh pointed out that “there are projects that can be privatized while they are lost and are due to the state. There is nothing wrong with privatizing them, but that this approach is not a general context with the aim of liquidating state property and creating confused ideological noise full of lack of understanding, and it is imperative that the national interest prevail above everything.”

Noting that the calls for privatization were regardless of their political or ideological motives related to globalization, as this idea started from the low efficiency of state-owned companies and exposing them to losses and the problem here is not in the ownership of the company but in the work of the company, which led to the issuance of the Companies Law the public.   LINK

Kurdistan Is Moving To Create 11 Huge Industrial Parks

Wednesday 17th March 2021   171  Erbil: Kohler Ghalib Al-Daoudi  The Kurdistan Regional Government is moving towards establishing 11 huge industrial zones in cooperation with Arab and international companies, while it revealed the existence of 1,600 Turkish factories and companies in Kurdistan.

Traders and factory owners believe that the Turkish food factories in Kurdistan depend on Turkish manpower, and have only used very little local labor, and this is why these factories did not affect the absorption of unemployment in the Kurdistan region.

The senior advisor at the Ministry of Industry and Trade in Kurdistan, the ministry’s spokesperson, Fathi Muhammad Ali al-Mudaris, said to “Al-Sabah”: “There are 3566 factories and factories in Kurdistan that include various materials and sectors, and this number is constantly increasing thanks to stability and security.” He pointed out, “The presence of 1600 Turkish factories and companies in Kurdistan, and this is a good thing. Despite the Turkish manpower, there are local workers, but with a small percentage, the number of which reaches more than 51 thousand workers.”

Fathi revealed that “the regional government has plans to establish 11 huge industrial zones and lands have been allocated to them, and currently we are waiting for foreign and Arab developers to cooperate with them to establish them, including Jordanian, Emirati and British companies.”

Fathi announced that the region has reached self-sufficiency in some manufactures, such as construction materials such as cement and reinforced iron, and these materials are supplied to the rest of the governorates with a plan to export them to neighboring countries, and for food industries, many factories have been established with high efficiency and can compete with foreign goods similar to them.

LINK

The Finance And Central Bank Oversee The Agricultural Bank

Wednesday 17th March 2021  142  Baghdad: Al-Sabah  , the Ministry of Finance, in coordination with the Central Bank, formed a committee to control and supervise the Agricultural Bank, as part of the White Paper steps.

A statement by the Ministry of Finance stated, “Among the reform steps contained in the white paper, which stipulated that the Central Bank can effectively supervise and regulate the banking sector, including the authority for the forced merger of low-performing banks, the Ministry of Finance agreed yesterday, Tuesday, the sole owner of the Agricultural Bank, in coordination. The precedent between the Ministry of Finance and the Central Bank to proceed with banking reform measures with the central bank assuming direct supervision and supervision of the Agricultural Bank ».

“This step was taken with the full knowledge and support of the Ministry of Finance, and it is an important step in the process of restructuring and reforming the Agricultural Bank to allow it to play its role in developing the economy, especially the agricultural sector,” the statement added.

The Ministry of Finance assured to clients and employees of the Agricultural Bank that the process of banking procedures will continue during the reorganization period without any delay.

The supervisory committee will be a joint committee between the cadres of the Ministry of Finance and the Central Bank of Iraq fully represented in the committee that supervises the process of reorganizing the Agricultural Bank. LINK

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