Saturday Evening Iraq Economic News Highlights 10-1-22
Millions Of Dollars In Losses.. Arab Investments Are Confiscated In The Kurdistan Region And The Authorities Are Powerless
09/29/2022 115 Arab investors, in the Kurdistan region, announced the loss of millions of dollars, after their investments were exposed to “major” fraud operations, in which government institutions as well as influential people were involved, through the use of forged contracts and seals, during which they were able to sell housing units and shops, with “imaginary” money. ”, without the Kurdish authorities attempting to intervene directly and prevent these abuses, according to what the affected people said.
What was mentioned above is a dangerous and unprecedented indicator that may cause Iraqi investors to withdraw from the Arabs, if foreign investments do not also withdraw from the provinces of the region, especially since they came to Kurdistan, due to the political and security stability enjoyed by those cities, as well as the Law enforcement force is there.
The Iraqi investor, Faleh Al-Maamouri, said, in a statement to Earth News, that his company owns projects in the cities of the Kurdistan region, including two investment projects worth millions of dollars, one of them is a residential project that includes houses and apartments, in the city of Sulaymaniyah, as well as another commercial project, which is (Alwa Klar).
Al-Jadida), in the Kalar district, which is under the administration of Karmian, said that he “has lost more than 25 million dollars so far, as a result of the employees of Kurdish nationalism, who were dismissed earlier, working within his company, forging contracts and seals, and selling housing units as well as selling Blockers in (Alwa Kalar), in illegal ways, after giving bribes to influential people and government officials.”
Al-Mamouri confirms, “He started his investments in the Kurdistan region, from 2010 until 2014, without any harassment or significant interference, but after that we started to face the arrival of people demanding shares in our projects, and speaking on behalf of parties and officials, and then things developed into preventing us from entering Our investment sites, by force of arms, and the aggressors selling what they do not legally own, through illegal methods, after influential people stood behind them.”
And the Iraqi investor continues his speech, “We resorted to the judiciary in the Kurdistan region, and despite having all the papers and documents that prove the legality of our work, but until this moment, no final decision has been issued, to restore to us our rights that were stolen by forgery and by force of arms, despite the passage of years since we have walked through legal channels.” .
Al-Maamouri pointed out that “his movements did not stop at resorting to the judiciary only, but he was able to meet with the Deputy Prime Minister of the Kurdistan Region, Qubad Talabani, and explain everything that he and his partners were exposed to, and to show all the papers and documents that prove his words, where Talabani issued a decision on their impact.
His company is allowed to resume its work directly, and to form a committee to find out what he was exposed to from the threat and forgery, as a result of which he lost millions of dollars. However, the decision issued by Talabani, in an official letter, remained on the shelves of government institutions in the Kurdistan region, specifically in government departments, which raised our great surprise. , which is happening, the repercussions of which may affect the withdrawal of investment companies and Arab and foreign money owners from the Kurdistan region.
And he added, “Mr. Qubad Talabani’s recent moves towards violations that disrupt projects in Sulaymaniyah were a good gesture and we hoped for it a lot, but unfortunately until this moment nothing happened, although thousands of families in our projects are still waiting for services to be provided to them, but we are restricted from Before the General Directorate of Investment in Sulaymaniyah, which in turn refuses to complete these steps, which are in the interest of the citizen.”
Earlier, the Deputy Prime Minister of the Kurdistan Region, Qubad Talabani, said that he intends to take legal measures against those who have disrupted the markets and projects of Sulaymaniyah, as well as “blocking the way for taking royalties and quotas in receiving projects,” according to leaks of the agenda of an upcoming meeting on the subject .
According to media affiliated with the Patriotic Union, “Deputy Prime Minister of the Kurdistan Region Qubad Talabani met with other directorates, institutions and departments concerned in Sulaymaniyah and related to investment projects, the private sector, commercial affairs and everything related to financial transactions, in order to conduct accurate follow-ups and detailed investigations about the projects that have been suspended and become A reason for stopping commercial traffic within the borders of Sulaymaniyah Governorate.”
She added, “According to the information obtained, during that important meeting, Talabani will closely review all the projects as a legitimate project and the decisions issued in the same field and were suspended and did not enter into force. Only directorates and administrative units can solve problems so that investors and traders can proceed with their transactions and start their projects.”
She explained, “This step of the Deputy Prime Minister comes to eliminate red tape, corruption and bribery and block the way to taking royalties and quotas in receiving projects, in order to expose those who stood behind its disruption and also caused the weakness of the market movement and the work of merchants, in order to face the law and take the necessary measures against them.”
And she indicated, “This decision comes after many meetings with employers, projects, investors and merchants of Sulaymaniyah, who communicated their suffering directly to Qubad Talabani, who in turn decided to solve all their problems and take legal measures against those who disrupted the Sulaymaniyah market and stopped the projects to face the courts.”
A few days ago, a number of contractors and company owners in Sulaymaniyah and Garmian demanded the regional government to pay their financial dues .
The representative of the protesting contractors, Farhad Muhammad, said during a stand in front of the Regional Bank in Sulaymaniyah, that “the regional government has stopped disbursing financial dues for projects implemented in 2014.”
Muhammad added, “The government disbursed part of these amounts in the form of financial payments until 2016, but after that date those payments stopped,” noting that “a letter was issued by the Minister of Finance on April 18 last year, confirming the suspension of the payment of contractors’ dues without stating the reasons.” .
The representative of the contractors confirmed, speaking to “the administration of the Territory Bank in Sulaymaniyah, and the content of the book was confirmed, under the pretext of forming a committee to find out the doors to disbursing those amounts,” noting that “many projects stopped in Sulaymaniyah and the Garmian administration, due to the large debts that incurred in the region after the events of the year 2014″. LINK An Urgent Parliamentary Investigation Into The File Of Violating Investments After The Collapse Of Al-Wathiq Lab
Money and business Economy News-Baghdad The Parliamentary Integrity Committee announced, on Saturday, its intention to open a parliamentary investigation to reveal all violations related to investments in Baghdad and the provinces, calling for a review of all licenses granted to establish medical clinics.
Committee member Sarwa Abdul Wahed said in a statement, “The National Investment Authority is required to clarify the mechanism for granting investment licenses to private laboratories, clinics and hospitals.”
And Abdel Wahed added, “What happened today in Baghdad from the collapse of a building for medical clinics due to an engineering error calls for a review of all approvals granted by the Investment Authority, especially an addition to building dilapidated buildings, which requires obtaining engineering approvals from the Baghdad Municipality or the governorate within well-thought-out plans. not random”
And she added, “The Parliamentary Integrity Committee will open this file to reveal all violations related to it, whether in Baghdad or other provinces, and refer the violators to the judiciary.”
6 . views Added 10/01/2022 – 2:41 PM Update 01/10/2022 – 2:48 PM
Through One Port, Iran Exports Goods To Iraq Worth More Than 400 Million Dollars In 6 Months
09/30/2022 21 Earth News/ The Director of Customs at the Iranian Khosravi border port with Iraq, Mahdi Abbassian, announced the export of 410 million 808 thousand and 430 dollars of Iranian goods to Iraq during the first half of the current Iranian year (started on March 21), which shows an increase of 41 percent compared to the same period last year.
Abbassian said that the weight of exported goods in the first six months of this year amounted to 991,362 tons, a growth of 52 percent compared to the same period last year.
He explained that most of the commodities exported during this period included fruits, vegetables, dairy products, building materials, tiles, cakes and biscuits.
He also pointed to the increase in the total transit trade in the first six months of this year through this port to transit destinations to 38 thousand and 725 tons of goods worth 45 million and 810 thousand 401 dollars, which is equivalent to a growth of 1,784 percent in terms of value and by 572 percent by weight compared to the same period last year.
Abbassian announced that about 45,000 trucks passed through Khosravi’s official border in the first six months of this year. https://earthiq.news/archives/147010
Parliamentary Integrity Confirms Opening The File Of Granting Investment Licenses To Private Laboratories And Hospitals
Political | 02:23 – 01/10/2022 Baghdad – Mawazine News The Parliamentary Integrity Committee confirmed today, Saturday, the opening of the file of granting investment licenses to private laboratories and hospitals.
Member of the Parliamentary Committee, Sarwa Abdel Wahed, said in a statement, received by Mawazine News, that “the National Investment Authority is required to clarify the mechanism for giving investment licenses to laboratories, clinics and private hospitals,
” noting that “what happened today in Baghdad from the collapse of a building for medical clinics due to an engineering reason calling for To reconsider all the approvals granted by the Investment Authority, especially the addition of building on dilapidated buildings, which require obtaining engineering approvals from the Municipality of Baghdad or the governorate within well-studied and not random plans.
And she indicated that “the Integrity Committee will open this file to detect all violations related to it, whether in Baghdad or other provinces, and refer the violators to the judiciary.” Ended 29 / M 99
Ministry Of Industry: 416 Projects Completed Within A Year And A Half
Economie 15:17 – 09-30-2022 Today, Friday, the Ministry of Industry and Minerals confirmed that the government has given priority to the establishment of industrial projects, and while it indicated that there are facilities for establishing industrial projects for young people, it clarified that 416 projects were completely completed within a year and a half.
Director General of Industrial Development at the Ministry of Industry, Aziz Nazim, said that “the mechanism for granting industrial projects to the private sector includes, based on the provisions of Law 20 of 1998, which is the Industrial Investment Law that the General Directorate of Industrial Development is working on.”
Nazim added, “Many facilities have taken place, including bringing in industrialists’ requests and setting an industrial map for the country to enable industrialists to establish their projects in the governorates according to various activities, including food, textile, chemical, engineering, and others, and many of the country’s industrial activities.”
He pointed out that “the government’s plan and the government curriculum pay special attention and care to the establishment of industrial projects, as they represent a fundamental pillar of the Iraqi economy, as well as actively contribute to youth employment and the elimination of unemployment.”
He stressed, “The industry will have a key role in employing young people and eliminating unemployment,” noting that “there are short-term plans, including the Ministry’s initiative to employ young graduates, and this initiative is private and is considered short-term, and there are medium-term and long-term plans.”
He explained that “the short-term plan is open, and the graduate can obtain a license to establish the project at very symbolic prices, amounting to approximately 25 thousand dinars, and he can bring a financier or open his simple project,” noting that “many young people succeeded in this field and obtained a plot of land.”
A simple request from the local government in the governorate in order to establish his project, and that the Industrial Development Directorate has coordination with the governorates and universities to take care of this category of young graduates, which is a special activity for the Directorate and the Ministry.”
Aziz continued, “Within a year and a half, more than 300 project licenses were established under construction within industrial projects, and these projects are awaiting completion until Iraq achieves progress in the field of local industry and the provision of goods in the markets,” noting that “the projects that have been completed, opened their doors and distributed Its products in the local market are approximately (416) projects.
And he indicated that “Law 20 for Industrial Investment of 1998 granted privileges to industrialists when establishing their projects, including providing plots of land by the competent authorities, as well as seeking environmental approvals, as well as facilitating customs and tax exemptions for equipment, production lines, and raw materials involved in production.”
He stressed that “these facilities encourage the establishment of the project and there is follow-up because the law has two phases: the first is three years, and the second phase is two years to establish the project and complete the approvals through the General Directorate of Industrial Development.”
