Economists: the investment did not support the Iraqi economy and imports exceeded Al274 billion dollars since 2012

Author: ASJ, BS
Editor: BK, BS

2015/11/16 23:39

Long-Presse / Baghdad
Businessmen counting that the volume of investment in Iraq "still weak" and did not support the national economy or reduce import, which exceeded Al274 billion dollars since 2012 and so far, while an economic advisor to the prime minister, of the existence of a plan to stimulate investment and re-launch bill of infrastructure revealed Parliament, the Investment Authority confirmed mapping a "basis" for investment in the country, and an expert opinion that Iraq is the "urgent need" for foreign investment to promote own reality.

Business: the size of investment in Iraq is still weak

He emphasized in business union member that investment in Iraq size is still weak and did not contribute to national production support or reduce import, which exceeded Al274 billion dollars since 2012 and until now the size, returned to the opportunities currently available are extractive industries, agriculture and services.

Said Manhal Abu loaf, in an interview to the (long-Presse), said that "Iraq has imported during 2012 amounted to $ 55 billion, and the amount rose in 2013 to 67 billion, and 2014, to 72 billion," likely to "exceed import eighty size billion dollars in the current 2015 ".

Abu loaf promised, that it "sends a message confirming the lack of high investment opportunities to reduce imports and increase domestic production volume," noting that "most consumer goods are imported."

The member of the Iraqi Businessmen Union, that "the available investment opportunities in Iraq, currently represented by extractive industries, Kalptrrukemaoyat and gas, fertilizer and cement, as well as agro-industries and services," noting that "Investment housing is weak despite the need for it, as a result of the security situation and financial and administrative corruption, as evidenced by Many investors get licenses in this sector without direct implementation of the presence of obstacles in front of them. "

And saw Abu loaf, that "the volume of investment in Iraq is still weak compared with the size of the nation's economy," he returned to "investment did not constitute a strong Iraqi economy in support, with the exception of the oil sector, as it has not been implemented from the investment budget of the state, amounting to $ 45 billion, but five billion Only dollar. "

He said economic expert, "What do of the total investment was pressed in the tourism sector, particularly the large commercial centers (malls), and communications, which can not be measured through the size of the economy."

The government plans to re-launch the project infrastructure to the Parliament Act

But economic advisor to the prime minister, Haydar al-Abadi, confirmed the existence of a plan to promote the reality of investment, revealing the government's intention to reopen the bill of infrastructure on the new look Parliament legitimizes hope.

He said the appearance of Mohammed Saleh, said in an interview to the (long-Presse), "The government has a future plan to overcome the obstacles in front of investment projects, particularly those of the sectors of housing, tourism and services, through a proposal to re-launch bill of infrastructure on the House of Representatives Modern System of the legislation, as well as and encouraging the development of programs for investment firms mechanisms ".

Saleh revealed, for "the existence of innumerable projects in front of the government for the advancement of Iraq, especially the affected areas that have been ravaged by military processes."

Investment Authority: We put the map is the basis for investment in the country

Meanwhile affirmed the National Investment Commission adviser, that the Commission has prepared an investment map the beginning of the current year, 2015, he returned it represents the fundamental basis for investment in the country.

Said Abdullah al-Bandar, in an interview to the (long-Bs), "The Commission is keen to provide the Iraqis to investors in the Diaspora investment opportunities or to foreign competition in various sectors of the economy and support the construction and reconstruction, about contributing to the return of capital immigrant," noting that there is "political efforts to support the functioning of the Roadmap investment projects across the country based on the plan drawn up by the Commission beginning of the current year 2015, the percentage of completion and follow-up in the development and strategic projects, because the map that represents the fundamental basis for investment. "

He said al-Bandar, that "who wants the implementation of any investment project should begin to collect information from the national investment body and its subsidiaries need to see each province and the obstacles they may face for discussion with those bodies to overcome them."

Trade Baghdad: Iraq desperately needs foreign investment to promote own reality

On the other hand confirmed by the Chamber of Commerce of Baghdad, that Iraq desperately needs foreign investment to promote own reality, calling for the need to accelerate the activation of investment housing sector, and provide the infrastructure of the new quality, to achieve economic and social development.

Said Fouad grace Husseini, in an interview to the (long-Presse), said that "Iraq suffered after 2003, large tremors in most aspects of life and sectors vital as well as the consequent huge debt," returned to "Iraq desperately needs foreign investment to promote own reality, giving priority to certain sectors such as housing, because it is suffering a significant shortfall in that area with the arrival of a population of nearly 32 million people. "

He called al-Husseini, to "speed up the activation of the housing sector investment to secure the need to nearly three million housing units, by encouraging foreign investment and legislation to facilitate it."

And saw a member of the Baghdad Chamber of Commerce, "The agricultural sector suffered neglect due to the blockade and war previously circumstances, and lawlessness and lack of current stability, which led to a decline in productivity rates per acre and the average year and dependence on external import crops strategy, as wheat, barley, rice, and industrial crops, such as sugar cane and beet, cotton and sunflower seeds, as well as import of various kinds of fruit, vegetable oils, protein and dairy products by more than 80 percent, "and urged the need to" work strenuously for land reclamation and establishment of a new quench to reduce drought and desertification projects. "

He said al-Husseini, that "the implementation of it needs to provide an estimated $ 91 billion, of which 41 billion for agricultural projects, and 52 billion for the Ministry of Water Resources" huge investments, following that "the industrial sector was not much different from the sectors of housing, agriculture, in terms of the large deterioration which Ienaanh ".

He said al-Husseini, the "state-owned industrial enterprises amounting to 192, where about 500 thousand member works, suffers technical failure, as well as the destruction and looting that suffered because of the chaos that has befallen the country, which had a negative impact on the reality and forced the government to support B194 billion and a hundred thousand dollars a year since 2005 until now. "

The promise of a member of the Baghdad Chamber of Commerce, that "the problem of power cuts hinder production and operation of labor projects, and increase the demand for oil derivatives, as severe bottlenecks caused high inflation and a large deficit for the citizens for dam needs basis to happen, so this sector aimed at adding new generating capacities of up to A MW for the years 2007-2014 at a cost of about $ 21 billion, "explaining that" needed to improve the electricity sector investments are estimated at 23 billion dollars and three million dollars for the current year until 2015, to gain access to obstetric capabilities of not less than 21 thousand MW. "