After the bankruptcy of Iraq ... scheme for the sale of its territory 10-30
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    After the bankruptcy of Iraq ... scheme for the sale of its territory 10-30

    After the bankruptcy of Iraq ... scheme for the sale of its territory

    First Published: 2015-10-30

    Emptied the treasury of the cash reserves of Iraq is still working hard to empty the Federal Reserve and looking for other sources of financing for corruption even if he sold all of Iraq to anyone and at any cost.

    Middle East Online

    By: Hussein Sadiq al-Rikabi

    No one doubts that the Iraqi economy reached a critical stage, not only because of lower oil prices, but because of failed policies and the great corruption that is eating away at the body of the Iraqi state with all its institutions as well as the war on terror.

    Despite the austerity measures, which claimed the lives of Iraqi citizens, the officials what extravagance continues either format Aivadat or renovating homes, offices and even the establishment of swimming pools, and other aspects of waste and corruption here and there.

    It seems clear that the 2016 budget deficit of approximately $ 20.6 billion, which is equivalent to some extent investment expenditure is to finance the parties in power and mercenary soldiers affiliates.

    This is not surprising in a country that spent on investment budgets since 2003, nearly $ 293 billion out of the budgets amounted to until this year 2015 more than $ 850 billion, the result was without the services and infrastructure decrepit and more than 9 thousand project dilatory or placebo and eight million poor and 7 countries Mom million.

    It seems that the concept of investing in Iraq is still not clear, or so I want him in spite of the Second Amendment to the Investment Law No. 13 of 2006 on November of this year, 201 527 where it record these observations:

    I. investment means that are attracting the money or spent by the state or private sector to achieve certain products and services or obtain future revenues. However, the average investment law did not address this issue, but was promoted Chief of Staff for the rank of minister and extension of its mandate like a tribute to the failure and corruption that took place in previous years.

    II: The biggest evidence of the failure of investment in Iraq is the Investment Authority's inability to attract funds from abroad in safe provinces, but has been allocating funds for investment were not only the result Islands Nakheel dead or schools rusty iron structures or electricity projects never saw the light of them.

    III at a time when talking about the existence of investment opportunities arise, it should be that this does not include laboratories and government existing plants, which were working and productive before 2003, it is inconceivable that those laboratories turns between overnight to non-productive institutions and the burden on the state. And why you can not the Ministry of Industry, which have been allocated billions of dollars in the rehabilitation of those laboratories instead of delivery of this case?

    Ironically, these same laboratories and factories that some claim they are unproductive suddenly turn into a profitable investment opportunities, according to the ministries and are presented to investors. If it clearly indicates that there is cause to stop these labs and turn it into a burden and that after allowing the same product ministries of foreign competition and access to the Iraqi market, while domestic production has stopped.

    IV deals with amendment of the Investment Law to decentralization in granting approvals for Mhals provinces and at a time when corruption is eating away those councils that the Iraqi government says it it is not qualified to manage less investment as a distribution of the ration card files.

    V. in Article 5 VIII deals with the amended investment law to encourage the Iraqi and foreign investors through the provision of soft loans, but the question is this investment? And why are granting loans to an investor does not have the funds pumped in the Iraqi economy, rather than investors do not have the penniless until completion of the first phases of their projects and then fleeing with money outside of Iraq.

    VI touched IX Article 1 of the amended investment law to the foreign investor is defined as a person who has a vacation investment, which does not hold the Iraqi nationality if a natural person or a legal entity registered in a foreign country. As well as in paragraph X. Iraqi investor known as a person who has a vacation investment and who holds Iraqi citizenship if a natural person or a legal entity registered in Iraq.

    However, both paragraphs Ogfelta that Tarafa investor in that it will provide money and expertise to accomplish specific projects and to achieve any profits he knew the concept of routine represented by investment license and did not know the practical sense. Under a paragraph if this investor gets to guarantee access to Iraqi funds once it gets the investment license while he was there must be letters of guarantee from local or foreign banks to ensure the seriousness of this investor.

    VII amended investment law did not include a paragraph "Where did you get this" or identify the investor and the sources of his money and could only leave the investment as a document in good faith and therefore can corrupt politicians, for example, who fled Iraq's assets abroad establishment of the companies out of Iraq from Iraqi funds smuggled then returned a legal formula Iraq is just as money laundering.

    And this says one of the participants in the amendment of the Investment Law in one of the television so special seminars "to run away with money from Iraq and deposited abroad gets a few benefits so why not come to Iraq to invest in it." As if this money is from these corrupt originally rights and not the rights of the Iraqi state. By this logic some politicians speak is evidence that the investment budget in Iraq is to finance the corruption in the political blocs and parties and not for the purpose of investment.

    VIII gives the second amendment to the law of the foreign investor to invest the right to own land 100% of the foreigner without paying the allowance if they are for the purpose of housing projects without guarantees that the Seetmlk Iraqi territory does not belong hostile to Iraq to countries or are planning to control the important parts of the country.

    And this is one of the participants in the drafting of the second amendment of the law in the same television so special symposium, "it says that many of the embassies are calling and ask for the amendment of the Investment Law." This means that these countries are planning to buy large tracts of Iraqi territory. It was incumbent upon the law that includes the rental of land or granting investors the right to ownership of the building while preserving the land for the benefit of Iraq in the national accounts.

    IX Second Amendment to the investment law omitted to give priority for investment opportunities to the Iraqi investor before the foreign, especially in sensitive sectors such as telecommunications and is key sectors affecting the security and the economy, as it is unreasonable to controlled foreign companies on this sector and therefore the task of data become in the hands of other countries.

    Finally, it has become evident, that emptied the treasury of the cash reserves of Iraq, it is still working hard to empty the Federal Reserve and looking for other sources of financing for corruption even if all of Iraq sold to anyone and at any cost.

    Hussein Sadiq al-Rikabi

    Last edited by rcookie; 10-30-2015 at 12:36 PM.

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