TNT
Tishwash:
Launch of the International Chamber of Commerce in Iraq
The activities of the International Chamber of Commerce were launched in Baghdad on the sidelines of the International Arbitration Forum, with the aim of bringing the Iraqi economy closer to the world and achieving beneficial integration that changes the shape of the national economy and makes it occupy its true place among the world’s economies.
Chairman of the Parliamentary Investment Committee, Hassan Al-Khafaji, stressed that “the launch of the International Chamber of Commerce in Iraq contributes to discussing challenges at the local and international levels and works to stimulate international investments in the country in a way that enhances sustainable development trends.”
He added that “this step works to integrate Iraq with the world and its various markets with all their specializations,” and pointed out that “his committee supports all initiatives that advance the national economy and bring it closer to global economies.”
Global Economy
The representative of the President of the Federation of Chambers of Commerce, President of the Najaf Chamber, Haider Al-Athari, stated that “the opening of the chamber came to activate integration between the public and private sectors, as the Ministries of Trade and Foreign Affairs played an important role in this achievement, in addition to the role of the Federation of Chambers of Commerce and the private sector, which made a great effort in order for Iraq to take its real role in the global economic arena and be an important part of it.”
Business environment
The Director General of the Private Sector Development Department at the Ministry of Commerce, Malik Al-Durai’i, said: “The opening of the chamber represents an important step to enhance the business and investment environment in Iraq and came with the government’s support for the private sector, which will work to create global economic partnerships.”
He pointed out that “this step reflects the extent of Iraq’s commitment to openness to the global economy,” and pointed out that “the presence of international commercial arbitration in the country constitutes an important incentive for investments to enter the local labor market.”
Government vision
Deputy Chairman of the National Investment Commission, Salar Mohammed Amin, stressed that this step is “important for the Iraqi economy and brings Iraq closer to global economies, especially after the national economy witnessed openness to the international economic system, which is part of the Iraqi government’s vision.”
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He pointed out that “international expectations indicate that the Iraqi economy will be the fastest growing in the coming years and will achieve a doubling of economic growth, and these are signs that encourage international efforts to enter the Iraqi field of work.” link
Parliamentary consensus to pass controversial laws soon – Urgent
Member of the House of Representatives, Muhammad Al-Ziyadi, confirmed today, Tuesday (November 5, 2024), that the politically disputed laws will soon be passed during the next stage.
Al-Ziyadi said in an interview with Baghdad Today, “There is a parliamentary consensus on passing the controversial laws that were postponed for more than one session due to political differences, especially since those laws were postponed by some parties under the pretext of the absence of a parliament speaker who represents a major component of the Iraqi people.”
He said, “The upcoming sessions will witness the passing of these laws, and there is a parliamentary consensus on this. There is also the possibility of extending the legislative session for one month in order to decide on these laws.”
Al-Zaydi explained that “these laws require dialogues and consultations to put the final touches on them at the legal and political levels.”
Last Thursday, the House of Representatives settled the issue of the position of the Speaker of the House, granting confidence to Mahmoud Al-Mashhadani after two rounds of voting.
According to observers, the Iraqi parliament, in its current session and the last three sessions, is facing accusations of repeated negligence in completing the voting on dozens of important laws that affect the lives of citizens.
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Some of these laws relate to important economic issues, the distribution of wealth, and freedom of expression, by postponing these laws to later sessions, for reasons that can be summed up as disagreements between parties on the one hand, and the repeated absences of representatives on the other hand, in addition to the fact that some of these laws do not conform to the interests of different political parties and factions. link
The Private Banks Association announces its support for Al-Sudani’s approach to localizing private sector employees’ salaries
The Iraqi Private Banks Association announced today, Tuesday, its full support for the directives of the Prime Minister, Mohammed Shia Al-Sudani, regarding the localization of salaries of private sector employees.
The Executive Director of the Iraqi Private Banks Association, Ali Tariq, said in a statement received by / Today’s News / that “we appreciate the Prime Minister’s directives to localize the salaries of private sector employees, and move from the use of cash to electronic payment in government institutions in the middle of next year completely, which are directives that reflect the government’s commitment to implementing its approach to financial and economic reform.”
He added, “Localizing the salaries of private sector employees, similar to public sector employees, and activating electronic collection, has great economic importance represented in increasing the rate of financial inclusion, improving transparency, supporting the digital economy, and increasing credit granted to the public, in addition to improving administrative efficiency and implementing automation in most public and private institutions, and increasing financial security.
“Tariq pointed out that “the Iraqi Private Banks Association is committed to full cooperation with government agencies and financial institutions in the country to achieve these goals.”
The Executive Director of the Iraqi Private Banks Association confirmed “the association’s readiness to support all initiatives aimed at modernizing and developing the infrastructure of the financial sector.”
Tariq concluded his speech by saying, “We believe that these steps will enhance the stability of the financial system and push economic growth towards better levels, which will benefit individuals and institutions alike.” link
Source: Dinar Recaps
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Tishwash:
The slogan “Made in Iraq” .. This is what it needs to achieve “real impact”
Economic expert Safwan Qusay confirmed that the slogan “Made in Iraq” will not achieve a real impact unless the appropriate financial tools are provided to enhance local industrial production.
Qusay said, “Recovering the due funds will contribute to expanding the scope of the Industrial Bank’s influence in supporting the national industrial machine,” adding that “Iraq is in dire need of specialized loans to support various industries such as tourism, entertainment, and the fishing industry, as these areas generate revenues that contribute to strengthening capital.”
Qusay explained that “the government’s support for local industry is not a paragraph placed in the general budget, but rather it can be done through purchasing local products for federal ministries, with the ministries’ allocations being transferred to the Ministry of Industry.”
He pointed out that “the Industrial Bank needs a larger capital than announced, noting that achieving this goal can be done by recovering part of the debts due on some industrial loans and supporting projects affiliated with the Ministry of Industry through investments from the private sector.” link
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Source: Dinar Recaps
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