An economist identifies 3 factors that hinder the entry of investment companies into the country
An expert in economic affairs identified 3 reasons that impede the entry of investment companies in Iraq, which are represented by the investment law, corruption and the lack of a safe environment.
The economic expert, Malath Al-Amin, said in a press statement that was followed by “Yes Iraq”, that “several obstacles delay the entry of investment companies into Iraq, including the investment law, in which several paragraphs should be amended to be in line with the current developments in developed countries, and the corruption that most investors complain of being blackmailed and demands to pay. The bribes to complete their work…the lack of a safe environment and the non-restriction of arms in the hands of the state.
Capital is cowardly and security stability gives the investor reassurance that the work is going according to the timeline.
He added that red tape and bureaucracy in granting investment licenses, which may take years to obtain, also hinder investment.
He stressed that “Iraq is a promising country for investment companies because of the financial capabilities it possesses, as well as the wars it has gone through during the past two decades that contributed to the destruction of infrastructure, lack of services, and the lack of seriousness in re-working government factories to meet the market’s need for its products, whether clothing, leather, plastic materials or electrical materials.” machines and many more. link
Al-Kazemi directs to re-examine the instructions to facilitate the implementation of the Financial Management Law
The Prime Minister, Mustafa Al-Kazemi, directed in the twenty-seventh regular session of the Council; By adding a representative from the Ministry of Planning to the Diwaniyah Order Committee (7 of 2020) concerned with preparing instructions to facilitate the implementation of the amended Federal Financial Management Law (6 of 2019).
The General Secretariat of the Council of Ministers said in a statement received by Shafaq News Agency, that the directive included a re-examination of the instructions to facilitate the implementation of the aforementioned Federal Financial Management Law, taking into account the general notes identified by the Ministry of Planning.
Under the directive, the committee will submit its recommendations to the General Secretariat of the Council of Ministers within a maximum of (45) working days, while checking the mentioned instructions from the State Council as soon as possible, according to the statement.
The Financial Management Law comes; For the purpose of organizing the rules and procedures governing financial and accounting management in the field of planning, preparation, implementation, control and auditing of the federal public budget and directing all federal revenues to the public treasury To cover public spending, determine the linkage of internal control units in terms of administrative and technical terms, establish mechanisms related to the implementation of budgets and the commitment of each implementing agency, determine the responsibility of the Ministry of Finance in the implementation phase, as well as set specific dates for submitting audit balances and final accounts and commitment to budget principles (budget transparency, budget comprehensiveness, budget unity and annual budget )
When preparing and implementing the federal general budget and related matters in a manner that ensures achieving macroeconomic and financial stability, enhancing the allocation of budget resources, improving the efficiency and effectiveness of the agreement, ensuring optimal cash management, and improving the quality of budget information submitted to the House of Representatives and to the public. link
The impossible equation in Iraq
The Nasiriyah Hospital fire incident revealed the extent of sabotage practiced by the militias in Iraq
There was no need for the fire of Al-Hussein Hospital in Nasiriyah, the center of the southern province of Dhi Qar, to ensure that the Iraqi situation was going from bad to worse. The fire not only revealed a defect in the construction of the hospital, in which materials were used that could not stand the fire, but also revealed a defect in the Iraqi structure as a whole. There is an Iraqi flaw in the foundations of the system in which the Iranian-affiliated “Popular Mobilization Forces” militia were able to be the real authority in the new Iraqi state that was established after 2003. This state was established thanks to the American invasion that brought the Iraqi militias loyal to Iran back on its tanks to Baghdad!
These militias have turned back into Iranian tools used in the process of seizing Iraq step by step, despite the resistance of the Iraqi people in all its categories, including the Arab Shiites, who have faced, and still are, facing a series of studied assassinations. Among these carefully studied assassinations is the assassination of Hisham al-Hashemi, a member of the narrow circle surrounding Prime Minister Mustafa al-Kadhimi, a year ago. The aim of these assassinations is nothing more than taming Iranians and Iraqis.
Soon, these militias turned back on the Americans, forgetting their preferences over them, and they affirm daily that they are nothing but tools used to put Iranian pressure on the Joe Biden administration… which appears to welcome this pressure.
The Iraqi deterioration is not the result of yesterday. He became 63 years old since the fourteenth of July 1958 when the military coup was led by a group of bloody officers who took over the liquidation of members of the Hashemite royal family. At the head of these was the young King Faisal II.
The history of Iraq since that fateful day is nothing but a series of tragedies after the alternation of military rule and the Baath Party, which at a certain stage, after 1979, was no longer but a cover for regional and family rule. The best expression of this ruling, at a certain stage, was the emergence of the star biker Hussein Kamel, who for years controlled seventy percent of the state budget. The rise of Hussein Kamel, Saddam Hussein’s relative on the side of his father and son-in-law, Raghad, was nothing but the rise of a guard for the dignitaries who visit Iraq… to the position of the Minister of Military Industrialization and then the Minister of Defense. There is no reason to tell the story of Hussein Kamel Hassan Al-Majid’s escape to Jordan in 1995 and then his return to Baghdad, where Saddam Hussein asked the clan to carry out the death sentence for him and his brother Saddam Hussein Kamel, who is the husband of another of the three daughters of the late Iraqi president. The story is well known and at the same time indicates the extent of the backwardness suffered by members of Saddam Hussein’s family.
It was assumed, after the end of Saddam Hussein’s rule, that Iraq would enter a new phase characterized by a democratic system in which there would be a peaceful rotation of power and parties of an Iraqi national character. None of that happened. The Iraqi series of tragedies continued. This made many pity the late president, who equated his oppression among Iraqis, but he stood in the face of the Iranian advance on Iraq after the victory of the Khomeini revolution and the overthrow of the Shah’s regime in 1979.
The new chapters in the Iraqi tragedy are characterized by the fact that they lead to a stage in which the failure of the new regime that the Americans sought to establish in 2003 and 2004 will have to be announced. With each passing day, it becomes clear how close this failure is and how great the difficulties facing Prime Minister Mustafa Al-Kazemi are.
The size of these difficulties is so great that Al-Kazemi cannot resign if he wants to stay in Iraq in the future. Al-Kazemi has all the good intentions and all the authorities that are supposed to help him succeed in light of the harmony between him and the President of the Republic, Barham Salih, who is a sane person. However, Al-Kazemi lacks any ability to translate his intentions on the ground, especially in light of an Iranian desire to make Iraq a card in any negotiations with the American administration.
The worst of it is that the Joe Biden administration has not yet been able to find a strategy to respond to the “Islamic Republic” that seeks to impose its conditions in the Vienna negotiations. It is no secret that Iran wants, in return for returning to the nuclear agreement signed in 2015, the lifting of all US sanctions imposed by the Trump administration. This is what you will never be able to achieve.
Iraq is losing a currency difference in the tension between America and the “Islamic Republic”, which threw its weight to confirm that Iraq is just an Iranian protectorate controlled by its militias under the name “Popular Mobilization”. It is not only Iraqi hospitals that have fallen victim to Iranian ambitions in Iraq. All of Iraq is under threat. It has become possible to ask: Is there any other option for Mustafa Al-Kazemi other than admitting his failure in the face of the “Popular Mobilization”?
A few weeks ago, Al-Kazemi was forced to attend a military parade of the “Popular Mobilization”. He was forced to do so at a time when he was trying to create a balanced role for Iraq in which he would return to a country that is close to the Arabs in general, without this arousing Iranian sensitivities. It seems that achieving such an equation is impossible at a time when Iran cannot accept such a balanced role, although it can benefit from it. This confirms the high-level security meetings that took place between the Saudis and the Iranians in Baghdad a short time ago. These meetings, in which a representative of the “Guide” Ali Khamenei participated, allowed to open a channel between Riyadh and the person controlling Iranian politics from A to Z.
With each passing day, the situation in Iraq becomes more complex. All that can be said 63 years after the military coup in 1958 and the US invasion in 2003 is that Iraq was not able to build a viable system, and that nothing but the word failure is suitable to crown a series of Iraqi tragedies that led to the construction of a hospital with materials that are not capable of facing any fire… Eighty billion dollars on electricity without there being electricity! link
Source: Dinar Recaps
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