Foreign investors show great interest in the stock market
On: Sat 31/12/2011 6:18
□ Baghdad / economic-term follow-up
Expected number of foreign investors to increase foreign interest in Iraq's fledgling stock exchange next year after the main index jumped more than 30 percent this year, noting that Iraq's economy will become the fastest growing in the world during the next decade.
Sharif said the official, Salim Abu Dhabi Investment Authority was "still interested in the Iraqi market and the outlook will not change because of what is happening now," noting that "the company is counting on investing more money at the beginning of next year when the open market."
For his part, said partner Paul Bartel in the Northern Gulf Partners, which manages the fund partners to invest Iraq 1, of the company: "Iraq will become the fastest growing economy in the world during the next decade and we expect to be reflected on the listed companies in the country."
"It undoubtedly will continue to record net foreign purchases in Iraq in 2012."
Paul asked, "Where can investors find that the leading economic growth and wealth of resources at the post-war?".
Noted that foreign investors who have registered net purchases in the local bourse this year, bought the shares worth $ 150 million, and argued that political unrest and security concerns did not affect significantly to the appetite in the Iraqi Stock Exchange.
States that, despite the small Iraqi Stock Exchanges compared to other regional and global has proven to be more robust in the face of the global economic slowdown, it is one of the few stock markets that offer enormous opportunities for growth.
In the meantime, the head of Erbil market for securities Abdullah Ahmad said the new year will witness the launch of the market.
Ahmed said the Kurdistan News Agency (Rn) was scheduled to begin market Erbil Stock Exchange to exercise its work and activities during the year 2011, but the emergence of some of the obstacles, because of the routine procedures delayed activation of the work (Exchange) Arbil to the beginning of next year.
He continued to perform some routine procedures contributed to the postponement of the opening market Erbil Stock Exchange, except that all actions have now been completed and were mostly related to the approval of the federal government, "noting that" the action was delayed in Baghdad, and now has been completed all the steps required for the opening of the market. "
Ahmed stressed that early next year 2012 will the opening of Erbil market for securities officially, and will be located in Erbil Brosh itself.
So called expert industrial Amer Jeweler to the importance of corporate restructuring of the Ministry of Industry in order to activate and promote the industrial sector of Iraq.
The Jeweler Agency (news): The process of industrial development in the country need the concerted efforts of all the components of the state to regain its position and strength, and this comes through following the laws and regulations issued by the legislative or executive, and activation of the private sector to take its role in promoting this important sector.
The Jeweler: the Ministry of Industry has companies and laboratories several but they have no real role and effective in the process of industrial development of the country, calling for restructuring of the new through the season as the head of the Board of Directors for the post of Director-General, in other words, there can be one person has two positions to manage a huge company and large.
He pointed to: that the Director of the company he must employ all the plans that placed him by the Board, stressing the need to involve the private sector in accordance with the law issued by the General Secretariat of the Council of Ministers in the year (2008), that must involve the private sector with public restructure the management of state-owned companies.
And that the work environment in all state departments do not deal with the private sector partner, but his dealings in a manner like a "sector came to take away the property of the state," adding that the private sector has no legal protection for its products.
It is noteworthy that there is a group of foreign companies and local companies negotiate with the Ministry of Industry to enter into partnership with them to develop and promote the company, including vegetable oils, which is negotiating with Spanish companies, Jordanian and Iraqi to enter a partnership with them.
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