Thurs. PM KTFA Thoughts/News Articles 5-13-21

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KTFA

Edna » May 13th, 2021

This article I find very encouraging, The Saudi’s don’t play games and have little tolerance “postponement and delay tactics” if your not ready to do business they don’t stick around. The fact that they seem to be moving forward with investment projects (according to this article anyway) again I find encouraging. Let’s hope Iraq doesn’t find a way to screw it up.IMO  

Petra » May 13th, 2021

Correct Edna.  Looks like they may get the first dance card with the queen of the Ball!

Samson » May 13th, 2021

Saudi companies prepare to launch giant investments soon in Iraq

05/13/2021 12:03:38

 Saudi businessmen revealed that Saudi companies are close to launching giant investments soon in Iraq in the fields of manufacturing industries, noting that there are promising opportunities for Saudi products of building materials and food in the Iraqi market.

 The businessmen explained in a press statement that “some Saudi companies specialized in raising livestock and cows have presented to the Iraqi government the idea of investing 4 million dunums in the Western Desert located between Anbar Governorate, passing through the cities of Karbala and Najaf, to the Samawah desert, with a contract extending for more than 50 years to cultivate.” agricultural and cattle breeding crops.

For his part, Mohammed predicted leader Vice Chamber of Commerce and industry Chairman of Riyadh, to witness the Saudi – Iraqi relations prospects welcome, especially in the field of economic, commercial and investment cooperation, pointing out that the visit of Prince Khalid bin Salman , deputy Minister of Defense, Iraq, come under Continuous integration, communication and coordination between the two countries, pointing out that it is a visit that supports closer relations at all levels, including economic ones.

The guide added that “the opportunities for integration between the Kingdom and Iraq are great.” Other areas that we will soon see their fruits … The Iraqi market is large and Saudi products are well received in it.”

For his part, Abdullah Al-Melehi, President of {Tamayouz} said: “There are promising opportunities for Saudi products in the Iraqi market, as the Iraqi market is one of the great opportunities for Saudi products. The Saudi exports program to open new markets for manufacturers in the Kingdom, in addition to supporting the Kingdom’s government and the leadership’s keenness to build relationships in various fields. Al-Melehi added: “The Iraqi market is promising and there are many export opportunities that national companies can benefit from,” adding that “the volume of Saudi non-oil exports to the Republic of Iraq amounted to 2.6 billion riyals ($ 693.3 million) during the past year 2020, while topping the list of the most prominent sectors. The exported building materials activity amounted to 859 million riyals (229 million dollars), and the foodstuff activity with a value of 790 million riyals (210.6 million dollars).”

Al-Melehi pointed out that “there is a tendency to offer investments in the field of oil and gas to Saudi companies, indicating that discussions are underway with the concerned authorities to clarify investment opportunities, as investors are always looking for specific opportunities or privileges to bring them to the market, especially after the Saudi Export Bank announced granting investors financing in this field.” Exports are a factor that attracts investors, “noting that” both Saudi Arabia and the UAE have allocated more than 6 billion dollars to invest in Iraqi lands, strengthen economic relations and create new opportunities for cooperation and partnership.”

Al-Melehi explained that “there are Saudi investment projects currently in the Iraqi cities of (Anah) and (Al-Qaim),” indicating that “there are investments that Saudi companies will soon launch in Iraq in the fields of manufacturing, agriculture and various projects, while Saudi investment companies offered specializing in livestock breeding and cows on the Iraqi government ‘s idea to invest 4 million acres in located between the Anbar province , passing through the cities of Karbala, Western Sahara and Najaf access to the desert of Samawah, a contract extends to more than 50 years for the cultivation of agricultural crops and cattle breeding.

He Malihi: “among the investments The Emirati and Saudi companies will implement them by producing some domestic industries in Iraq, as joint factories between Iraq and these two countries will be implemented … Also one of the most important investment projects is the interest in electric power projects from Saudi Arabia and the United States.  LINK

Cabinet Secretariat: The Eid holiday begins Thursday and ends next Sunday

12th May, 2021

The General Secretariat of the Council of Ministers set today, Wednesday, the days of the blessed Eid Al-Fitr holiday.

The secretariat said in a statement that Mawazine News received, a copy of it, “The blessed Eid al-Fitr holiday begins on Thursday May 13, 2021 and ends on Sunday May 16, 2021, provided that the procedures for imposing a comprehensive curfew continue. Approved by the Council of Ministers, up to 22/5/2021.   LINK

Source: Dinar Recaps

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