Al-Sudani congratulates our people on the National Day and confirms that Iraq will remain a pillar of stability, security and prosperity in the region and the world
Prime Minister Muhammad Shiaa Al-Sudani congratulated our people on the National Day, stressing that Iraq will remain a pillar of stability, security and prosperity in the region and the world.
Al-Sudani said in his congratulations: On the occasion of the National Day of the Republic of Iraq, I extend to the people of our dear country, with all their components, in every place, and to all the national forces and all constitutional bodies, with the most sincere and blessed expressions of congratulations, accompanied by prayers to the Almighty God to preserve our country, dear, invincible, and lofty at all times.
He added: Iraq has always been a land radiant with the meanings of civilization for the entire world, just as it was the spot where history was made, and where humanity recorded its steps towards progress. Therefore, the emergence of the modern Iraqi state, and its accession to the League of Nations, came as a continuation of this effective and influential civilizational and cultural dynamism.
He continued: On its National Day, Iraq will remain a pillar of stability, security and prosperity in the region and the world, and a bridge where civilizations and cultures converge. Iraqis will remain skilled makers of peace and tranquility, and staunch fighters against darkness and backwardness, and in this sense, we will continue to work to make Iraq the goal and goal. He takes precedence over every consideration and rises above every necessity. link
Why do “Iraqis” not occupy a place on the list of the world’s richest people?
Global rich lists are always an interesting topic, as they reveal the wide disparities in wealth between individuals in different parts of the world. However, it notes an underrepresentation of billionaire men from Iraq on these lists despite the country’s rich natural resources and great economic potential. In this article, we will look at some factors that may explain this fact.
1. Political and security turmoil:
Iraq has long been plagued by political and security turmoil, starting with the 2003 US invasion and subsequent internal conflicts and terrorist attacks. These conditions make it difficult to build successful businesses and stabilize investments in the country, reducing businessmen’s opportunities to achieve great fortunes.
2. Lack of transparency and corruption:
Corruption and lack of transparency in Iraq are two major challenges facing businessmen. Building significant wealth may require cooperation with the government or government officials, and this can cause legal complications and difficulties that make things more difficult.
3. Lack of economic diversification:
The Iraqi economy relies heavily on the oil industry, which means that economic opportunities may be limited for those working in this sector. The lack of diversity in the economy reduces the opportunities for businessmen to choose other areas to invest and build diversified wealth.
4. Educational and training challenges:
There may be a lack of education and training necessary for businessmen in Iraq, which affects their ability to develop businesses and achieve success in global markets that require advanced skills and knowledge.
In conclusion, the lack of billionaires in Iraq shows that there are major challenges facing the country in the field of economics and business. If focus is placed on resolving these challenges and providing a more stable and transparent environment for business, opportunities for entrepreneurs to build significant wealth and increase their representation on global wealthy lists may be enhanced. link
Parliamentarian: 11 countries want to invest in the path of development
MP Baqir Al-Saadi confirmed on Monday that 11 countries want to invest in Iraqi development road projects.
Al-Saadi said in an interview followed by Mawazine News, “The development path is not a paper project, but rather a reality. The Sudanese government seeks to put the first phase in the axes of direct implementation within a short period not exceeding months,” pointing out that “the project is strategic for Iraq’s economic future.”
He added, “11 countries have expressed their desire to invest in Iraqi development road projects, and the number may reach 50 if they are initiated,” stressing that “the world is facing the birth of an exceptional transportation line that will connect the countries of Southeast Asia and the Indian Ocean to Europe via Iraq.”
He pointed out that “the benefits of the project can be summarized in 15 points, the most prominent of which are the financial returns and the volume of investments in building industrial cities and other logistical support, in addition to creating job opportunities and charting a new transportation route in Iraq that attracts various world goods.” link
Russia is ready to participate in the development road project in Iraq
Shafaq News / Assistant President of the Russian Federation, Igor Levitin, on Tuesday, expressed his country’s government’s readiness to participate in the implementation of the vital development path project in Iraq.
This came during his meeting in the capital Baghdad with Prime Minister Mohammed Shiaa Al-Sudani and Transport Minister Razzaq Muhaib al-Saadawi, according to data issued by the Iraqi government.
A statement issued by the Prime Minister’s Office said that during the meeting, bilateral relations between the two countries were discussed, ways to enhance mutual cooperation in various fields, as well as the curriculum of the upcoming visit of Sudan to Moscow was discussed.
He pointed to the close and historical relations that bind Iraq with Russia, and the government’s desire to strengthen them, stressing that Iraq launched the development road project with the Faw Port project, which is a sustainable economic project, within the government’s policy of transition towards a multiple economy and not relying on oil, as well as its importance to the countries of the region, and its integration with other economic corridors.
For his part, Levitin stressed his country’s desire to strengthen cooperation with Iraq at various levels and levels.
The Assistant to the Russian President heads a delegation with the membership of Kharchenko Andrey, Assistant Levitin, and Alexei Sagal, an economic adviser, along with the Ambassador of the Russian Federation to Iraq Elpros Kotterev, and the third secretary of the embassy, Alexei Dobrinin.
In the second meeting, the Iraqi Minister of Transport reviewed the importance of the development road project and its economic feasibility for Iraq, the countries of the region and the world.
According to a statement issued by the Ministry of Transport, the minister touched on the large port of Faw project and its great importance for the development path, stressing that the Iraqi government has a clear vision to manage and operate the port in the best way, through the use of expertise and international companies specialized in port management.
The statement said that Al-Saadawi assured the Russian side that Iraq aspires to find economic integration among the countries of the region, noting that its strategic location qualifies it to be a kiss for global investment.
In turn, Levitin confirmed to the minister his country’s serious desire to enhance joint cooperation, especially in the transport sector, expressing his government’s readiness to participate in the development path project and exchange experiences in all fields of transport, according to the statement.
It is noteworthy that the value of the development road project is estimated at $17 billion to connect an important port “the large Faw port” for goods on the southern Iraqi coast to the border with Turkey through the extension of a railway network and roads.
The development route aims to connect the port of Faw in oil-rich southern Iraq to Turkey, turning the country into a transit hub, in a short travel time between Asia and Europe in an effort to rival the Suez Canal.
The Iraqi government has the perception that high-speed trains will transport goods and passengers at a speed of up to 300 kilometers per hour, in addition to laying lines to local industry and energy centers that could include oil and gas pipelines.
According to the plans, the main transport routes will be connected to the main port of Faw on the shores of the Gulf by modernizing and building more than 1.2 thousand kilometers of railways and highways linking Iraq with neighboring countries.
Source: Dinar Recaps
On the occasion of National Day, the US State Department issues a statement to the Iraqi government and people
Baghdad today – Baghdad
Late on Tuesday evening (October 3, 2023), the US State Department issued an official statement in which it addressed the Iraqi people and government on the occasion of Iraqi National Day, offering congratulations and blessings to the Iraqi people.
The Foreign Ministry said through the statement, which was translated by “Baghdad Today”, that it “offers sincere congratulations and blessings to the Iraqi people and the government of Prime Minister Muhammad Shia al-Sudani on behalf of the government and people of the United States of America on the occasion of the anniversary of achieving the country’s complete independence.”
She continued, “On this day, we look with great pride at Iraq and the great achievements it has achieved and the determination of its people, who suffered over 91 years during which they endured great challenges and emerged with a comprehensive and just society for its citizens and future generations.”
The statement also stressed the importance of cooperation between the two countries within the “360 degree” partnership, calling on Iraq to continue working with the United States within the shared values between the two countries to confront international challenges, including climate change, economic development, full realization of human rights and environmental protection, in addition to ensuring Continuing to fight the terrorist organization ISIS.
The US State Department expressed its keenness to “continue strengthening relations between the peoples of Iraq and the United States on an individual level,” stressing that this relationship is “the basis of the partnership between the two countries,” as it described it.
This was in Iraq’s news:
The World Bank warns East Asian countries of the “worst economic outlook” in half a century
The World Bank lowered its growth forecasts for China next year, warning that developing economies in East Asia “are expected to grow at one of the lowest rates in 5 decades,” according to a report published by the British newspaper “Financial Times.”
The bank’s bleaker forecast for 2024 underscores growing concern about China’s economic slowdown and how it will spread to Asia, with policymakers in Beijing already setting one of the lowest growth targets in decades for 2023, at about 5 percent.
The World Bank, citing a series of weak indicators for the world’s second-largest economy, said it “expects China’s economic output to grow by 4.4 percent in 2024, down from 4.8 percent in April.”
It also lowered its 2024 forecast for GDP growth for developing economies in East Asia and the Pacific.
Forecasts show that the region, one of the world’s main growth engines, is preparing for its slowest pace of growth since the late 1960s, excluding extraordinary events such as the coronavirus pandemic and the global oil shock of the 1970s.
The World Bank’s chief economist for East Asia and the Pacific, Aditya Mattoo, said, “Experts expected that China’s recovery following strict controls over the Corona epidemic would be more sustainable.”
The bank noted that Chinese retail sales have declined to below pre-pandemic levels, coinciding with stagnant house prices, increasing household debt, and delayed private sector investment.
“The growth slowdown will continue unless Asian governments, including China, embark on deeper reforms in the services sector,” Mattu warned.
According to the international expert, the shift from growth based on real estate and investment was a challenge for many developing Asian economies.
He explained: “In a region that has already flourished through trade and investment in manufacturing, the next big key to growth will come from reforming the service sectors, by taking advantage of the digital revolution.”
Goods exports fell by more than 20 percent in Indonesia and Malaysia, and more than 10 percent in China and Vietnam, compared to the second quarter of 2022, raising household, corporate and government debt, thus reducing growth prospects further.
The deteriorating expectations also reflect that a large part of the region – and not just China – has begun to be affected by the new American industrial and trade policies under the “Inflation Reduction” Act and the “Electronic Chips and Science Act”, which provide subsidies of about $53 billion, in order to increase American semiconductor production. Made, addressing supply chain vulnerabilities by producing more goods in the United States, promoting domestic scientific research, and strengthening the country’s economic and national security.
For years, Southeast Asia has benefited from trade tensions between the United States and China and tariffs imposed by Washington on Beijing, which has led to increased demand for imports towards other countries in the region, especially Vietnam.
However, Washington’s adoption of the “Reducing Inflation” Law and the “Chips” Law in 2022 had a negative impact on Southeast Asian countries, as their exports of the affected products to the United States declined.
“This entire region, which has benefited… from trade tensions between the United States and China… is now suffering from trade being diverted away from it,” Mattu said.
Electronics exports from China and Southeast Asian countries, including Indonesia, Vietnam, the Philippines, Malaysia and Thailand, declined after US President Joe Biden’s protectionist policies took effect, according to the World Bank. link
Source: Dinar Recaps
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