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CandyKisses:
Deputy: 10 countries expressed their desire to invest in the Iraqi development path
Information / Baghdad
MP Baqir al-Saadi said, on Monday, that there is a desire by 10 countries to invest in the Iraqi development road.
Al-Saadi said in an interview with Al-Maalouma that “Iraq’s strategic location as a link in an important geography in the global transport map allows it high flexibility in attracting large investments, especially with the presence of large development projects.”
He added, “The development road, which was recently announced by Prime Minister Muhammad Shia Al-Sudani, will be the most important development project for Iraq after 2023, as it will achieve great benefits in regional and international openness and the transfer of part of the movement of goods towards the country’s ports on their way to Europe through Turkey and the possibility of creating other branches.”
He pointed out that “10 countries have expressed their desire to invest in the Iraqi development road, and there is interest from other countries, pointing out that the launch of the project means important messages, most notably security stability and the return of Baghdad to play a pivotal role in the Middle East.”
REalPrazer18:
This is exciting! The more the merrier and the sooner we can RV so their contracts can start!
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CandyKisses:
Statistical: Iraq achieved the largest trade surplus in 2022 over ten years
Shafaq News / Statistics conducted by the German company Statista specialized in market and consumer data revealed that Iraq achieved the largest trade surplus for the past year 2022 over the past ten years.
The trade balance indicates the differences in imports and exports of goods in a country during the year, if the value of its exports during a period exceeds the value of its imports, it is called the surplus in the trade balance, and if the total value of imports exceeds the total value of exports, it is called the deficit in the trade balance.
The company stated in a table seen by Shafaq News Agency that Iraq achieved the highest trade surplus for goods in 2022 over the past ten years, as the surplus last year amounted to $ 53.54 billion, up by 64% from 2021, which reached the trade surplus of goods in that year $ 20.08 billion, noting that Iraq achieved a deficit in its trade balance for two years, the first in 2020, where the deficit reached $ 4.11 billion and the second in 2015. The trade deficit was $0.94 billion.
He continued, “In 2019, the balance achieved a trade surplus of $ 16.62 billion, and in 2018 the trade surplus reached $ 35.95 billion, and the trade surplus in 2017 amounted to $ 15.1 billion,” noting that the trade surplus in 2012 amounted to $ 35.39 billion.
American Expert: The Impact Of “BRICS” Is Growing And The Global Economy Is Starting To Change
American economist Richard Wolf pointed to the growing influence of BRICS, which has become a guarantor for countries that reject the alliance with Washington and the West, especially with the economic development in producing Russia and China.
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He added in an interview with the Dialogue Works channel on YouTube that “the economies of the West will be troubled during the coming period, while the Russian economy will grow and the Chinese economy will grow rapidly, as Russia is a producing country in the end, not to mention that the alliance between Russia, Iran, Saudi Arabia, the UAE and others, which are oil and energy producing countries, will compete with the West and Washington, so why American hegemony?”
He stressed that BRICS sent a strong message that the global economy is changing and has a general goal of developing and supporting the economies of its countries, and therefore every country in the world has two options: either submit to the hegemony of Washington and its allies, or join the BRICS and its allies.
Wolff pointed to the relentless attempts of Washington and the West to prevent this and influence the BRICS group, whose role began to grow year after year, as countries that need financial support and reject American hegemony can now turn to the BRICS Bank.
He stressed that most countries saw what happened in the Ukrainian crisis and the position of the West, led by Washington, towards Russia in terms of sanctions and freezing of its assets.
He stressed that the war in Ukraine is not because of Ukraine, but rather falls within the West’s attempts to weaken Russia and China, and so far the West believes that by supplying Kiev with weapons and prolonging the conflict, the Russians will kneel, but in the end it destroys Ukraine, and will not prevent Russia from achieving its goals.
Source: Dinar Recaps
Harambe:
Vietnam PM meets with IMF Managing Director in Indonesia | Vietnam+ (9/4/23)
Prime Minister Pham Minh Chinh met with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on the sidelines of the 43rd ASEAN Summit and Related Meetings in Jakarta, Indonesia, on September 4.
Georgieva highlighted the Association of Southeast Asian Nations (ASEAN)’s and Vietnam’s positive economic growth, which, she said, has significantly contributed to spurring the sustainable growth of the global economy.
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For his part, Chinh thanked the IMF and the Managing Director for their support to Vietnam in consultancy and policy making, helping the country stabilise the macro-economy and finance-monetary sector, and recover the national economy.
Lauding the fund’s role in promoting economic recovery after the COVID-19 pandemic and setting forth major orientations to remove difficulties and challenges, the PM said Vietnam stays ready to work together with the IMF to implement the agenda, focusing on the three pillars of stabilising the macro economy, supporting vulnerable countries and spurring growth.
Regarding the global economic situation, Georgieva pointed to a range of difficulties and challenges, which have also affected Vietnam.
Chinh also noted that the world economy is being impacted by many factors, including the lingering effects of the COVID-19 pandemic, the conflict in Ukraine, monetary tightening by many economies, supply – demand decline, and production and business stagnation.
To overcome the current difficulties and challenges, the PM and IMF Managing Directoragreed on the need for comprehensive solutions to ensure peace and stability.
They emphasised the importance of strengthening international solidarity, promoting multilateralism and continuing to boost international integration.
They shared the view that countries need to join hands to find new drivers for growth including green growth, circular economy, and sharing economy as well as the need to mobilse resources to expand production and business, create more jobs, promote innovation and start-ups, and not to politicise economic and scientific and technological issues.
The two sides agreed to strengthen the signing and negotiation of free trade agreements, remove trade barriers to facilitate the global circulation of goods; handle issues peacefully and cooperatively; promote the mobilisation of resources for development through public-private partnership.
The PM emphasised that in the context of complex global economic developments and potential risks, Vietnam will continue to implement the above mentioned groups of solutions to maintain macroeconomic stability, control inflation, maintain growth momentum, ensure major balances of the economy, and control public debt.
Vietnam will continue to implement flexible and effective monetary policy and fiscal policy with key focuses, promote both domestic and foreign investment, especially investment from the state sector. Vietnam will also coordinate and call on major economic hubs including ASEAN, to join hands in implementing the solutions.
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The IMF Managing Director said that in the coming time, the IMF will continue to have solutions to help member economies increase their resilience against future shocks.
In the current trend of fragmentation in the world economy, the IMF hope that ASEAN in general and Vietnam in particular, on the basis of economic growth achievements, will promote its role in connecting economies and have a stronger voice in promoting global cooperation.
Chinh affirmed that Vietnam is ready to join hands with the IMF to implement measures to promote economic recovery.
Vietnam hopes that the IMF will continue to support Vietnam in policy consulting and making, technical support so that Vietnam can achieve its set development goals.
On this occasion, Chinh invited Georgieva to visit Vietnam soon and the latter happily accepted the invitation.
https://en.vietnamplus.vn/pm-meets-with-imf-managing-director-in-indonesia/267351.vnp
Vietnam, Indonesia eye comprehensive strategic partnership | Vietnam+ (9/4/23)
Vietnamese Prime Minister Pham Minh Chinh met with Indonesian President Joko Widodo in Jakarta on September 4 on the sidelines of the 43rd ASEAN Summit and Related Meetings.
Both leaders spoke highly of the positive development in the strategic partnership between Vietnam and Indonesian since their meeting in Labuan Bajo in May.
They affirmed that the two countries will step up all-level delegation exchanges in the time ahead, setting milestones for the 10th anniversary of the strategic partnership in 2023 and looking towards the 70th founding anniversary of the bilateral diplomatic relations and the 80th anniversary of Vietnam’s National Day and Indonesia’s Independence Day in 2025.
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The two sides agreed to effectively optimise bilateral cooperation mechanisms and coordinate to well implement signed agreements, including bringing the signed document on maritime cooperation into effect soon, creating momentum to elevate the strategic partnership to a new height, towards a comprehensive strategic partnership in the near future.
PM Chinh suggested the two countries maintain their trade ties in a more balanced way, striving to raise the bilateral trade revenue to 15 billion USD by 2028, and suggested the two governments encourage businesses of the two countries to increase investment, especially in such new areas as digital economy, green economy, energy transition and e-vehicle ecosystem development.
He also called on Indonesia ease the application of trade remedy measures against Vietnamese goods, thus facilitating the access of farm produce and Halal products originating from Vietnam to the Indonesian market.
The two countries should cooperate in new, strategic supply chains and enhance cooperation in the areas in which both sides are interested, he said.
The PM suggested Indonesia recognise Vietnam’s efforts in monitoring the operations of fishing boats, and minimising illegal, unreported, and unregulated (IUU) fishing activities.
President Widodo welcomed PM Chinh to Indonesia to attend the 43rd ASEAN Summit and related meetings.
He thanked and highly appreciated Vietnam’s support for and active assistance to Indonesia’s ASEAN Chairmanship in 2023.
President Widodo welcomed Vietnamese businesses, including VinFast, to invest in Indonesia and promote cooperation in the development of renewable energy and electric vehicle ecosystem.
The President suggested the two countries strengthen marine cooperation, and sustainable fishery cooperation and soon sign a Memorandum of Understanding on fishery cooperation.
Talking about regional and international issues, PM Chinh affirmed that Vietnam supports and works closely with Indonesia to ensure the success of the 43rd ASEAN Summit and the ASEAN Chairmanship Year 2023, contributing to strengthening solidarity, unity, and centrality of ASEAN and maintaining peace, stability, cooperation, and common development in the region.
Regarding the East Sea issue, the two leaders reaffirmed their support for maintaining ASEAN’s solidarity and agreed principles in the East Sea issue, especially the early finalisation of an effective Code of Conduct in the East Sea (COC) between ASEAN and China
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In line with international law and the 1982 United Nations Convention on the Law of the Sea (UNCLOS). PM Chinh conveyed the invitations of Party General Secretary Nguyen Phu Trong and President Vo Van Thuong to President Widodo to visit Vietnam soon. President Widodo accepted the invitations with pleasure.
https://en.vietnamplus.vn/vietnam-indonesia-eye-comprehensive-strategic-partnership/267350.vnp
Vietnam central bank governor earns ‘A+’ in Global Finance report – VnExpress (9/4/23)
Hong, 55, is one of only three central bank governors in the world that was rated A+ by the U.S.-based magazine.
The other two were the Reserve Bank of India Governor Shaktikanta Das and Thomas J Jordan, Chairman of the Governing Board of the Swiss National Bank.
Hong became Governor of the State Bank of Vietnam (SBV), appointed by the legislative National Assembly, in November 2020.
She holds a master’s degree in Developmental Economics and started working at SBV in 1991, where she held several management positions.
The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of 101 key countries, territories, and districts, including the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States, and the Central Bank of West African States.
Grades are based on a scale from A to F for success in inflation control, economic growth goals, currency stability and interest rate management, with an “A” representing an excellent performance down through an “F” for outright failure, according to a Global Finance press release.
The full Central Banker Report Cards 2023 report and grade list will appear in Global Finance’s October issue print editions, as well as online at GFMag.com.
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“Fighting inflation, which has been fueled by pent-up demand and disrupted supply chains, has everyone turning to their central bankers for help,” said Global Finance founder and editorial director Joseph Giarraputo.
Governors that earned an A grade included Brazil’s Roberto Campos Neto, Israel’s Amir Yaron, Harvesh Kumar Seegolam of Mauritius, New Zealand’s Adrian Orr, Paraguay’s Jose Cantero Sienra, Julio Velarde of Peru, Chin-Long Yang of Taiwan, and Uruguay’s Diego Labat.
Source: Dinar Recaps
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