DELTA: Al-Kazimi’s envoy to Saudi Arabia reveals the details of the visit: an economic balance and an open market
05/22/220 Baghdad – Iraq today:
The Prime Minister’s envoy and Minister of Finance Ali Abdul-Amir Allawi said on Friday that the trend is made up of three axes to develop relations with the Kingdom of Saudi Arabia and support the Iraqi economy.
Allawi said, “The aim of the visit to Saudi Arabia is to go through three axes to develop Iraq’s relationship with the Saudi side, the first of which is immediate cash support to the budget. As for the second axis, it is to stimulate private Saudi companies and institutions, especially in the fields of energy and agriculture, and urge them to enter Iraqi markets through investments, The third axis is the activation of the commercial aspect. ”
Allawi added, “Iraq has a plan to move towards achieving an economic and financial balance with neighboring countries, and that the Iraqi market be open to all, away from harming a specific party.”
He continued, “The government seeks to urge Saudi companies to contribute to the reconstruction of the country,” stressing that “Iraq needs immediate financial support in order for the government to fulfill its obligations towards employees.”
Allawi stressed, “Many obstacles prevented investments in Iraq, including the laws and regulations in force, the loss of the incubating structure for foreign investments and the absence of banks at a global level, as well as the unpopular accounting and legal system, as well as the unpopular land acquisition system as well, all of these obstacles prevent the Saudi investor and any investor Another of the investment in other fields outside the oil fields, “calling for” the need to have an environment conducive to investment and the replacement of those laws and address the existing problems and obstacles. ”
And that “the administrative apparatus in Iraq is now incompatible with the requirements of the foreign investor, and it also contains major violations of corruption and interference in the way of taking decisions from parties not related to the investment work, interfering for the private and partisan benefit which is one of the main obstacles that keep the foreign investor”, He pointed out that “when the investor sees this environment, he will be conservative, and no matter how large the Iraqi market is, it requires encouragement from the private sector, which also suffers from these constraints.”
On Thursday, Prime Minister Mustafa Al-Kazemi sent Finance Minister Ali Allawi to the Kingdom of Saudi Arabia on an economic mission.
The Prime Minister’s Office stated in a statement that “Minister of Finance Dr. Ali Allawi heads to the Kingdom of Saudi Arabia as an envoy from the Prime Minister to discuss bilateral relations and economic conditions in the region and encourage investment.”
Clare: THANKS DELTA & DON! …..ALL THIS TALK MEANS NOT WITH A PROGRAM RATE IMO! KAZEMI SAID NO MORE TALK …….HE SAID IT’S TIME TO ACT!!!! WOOHOO!!!!
Ryan1216: Go Kazemi! Introduce the new rate!