Municipalities: Iraq needs international investment

5/16/2016 0:00

Financial distress and stopped behind the project
BAGHDAD - Suha Shaykhli

confirmed the technical agent for the Ministry of Municipalities Engineer Jaber al - Hassani , a large fallout after stop investment projects in Iraq because of the general situation that led to the economic cycle , which cast a shadow over rising unemployment crashes. He stressed in his speech Hassani »Sabah» that leaving these projects will lead to extinction, especially with regard to infrastructure, and the weather and environmental conditions will make it to utilize them non - existent. He said the majority of the investment projects, especially in the cities when the stoppage will affect the infrastructure working in it as routes of transportation and electricity and the movement of trade, and to stop projects and is in the process of completion will affect the city 's environment in terms of health as well as other negative aspects, knowing that our ministry involved in projects outside Baghdad.


and stop investment projects in relation to the freezing of capital between al - Hassani said the cabinet dealt stopped investment projects that stalled projects and resolved by mutual consent and the other projects receiving funding. But we are not currently find senior financiers from outside Iraq and the cause may be the security file or recounted by the media about the weakness and fragility of the economic situation in the country. And domestic capital explained that the contractors in the private sector have the capital and their companies are not by a large often stay stop working and complemented shall be a burden on the state, explaining that the dues and the funds have been frozen in this project or another and thus be an episode of the economy in the country has stopped , while the public sector companies are operating self - financing system and its cadres working When stopped investment projects in these companies will cause the payment of salaries to its employees.

foreign investment

and the lack of foreign investment projects to work in Iraq before entering (Daash) in 2014 said al - Hassani , the head of a coward money where some foreign contractors are believed to be Iraq 's investment environment repellent to invest and that investment in Iraq 's modern era began after 2003 , and with the presence of investment special laws which is good , but they need to be legal and administrative environment that works in coordination between the competent authorities and the investor and the relevant departments, and confirms al - Hassani said investment good beginnings in Baghdad and some provinces as mayor Maysan began.

He explained that the reasons for the reluctance of projects many of them administrative routine internal and external agendas do not want to be in Iraq , investment projects, noting the need to give investment great interest in being a part of the market economy, and that the most important benefits of investing money that foreign it binds Iraq 's economy

He Hassani hopes to provide the relevant authorities the possible facilities in the future, stressing the ministry to grant all safe investment territory to the investment Authority, pointing out that the ministry is working in accordance with the municipal law, including the leasing law , which in itself means investing periods certain though it is 20-25 years old.

municipalities and investment

and detect the presence of investment with the private sector and the law in 2016 by certain percentages we have a part of the assets , which is occupied and investor in the project to build and we have previous experience in Mosul , where they were investing with a private sector company to build a city Games in the city .

and after the cessation of investment projects large Fajsartna on the economic side and private projects the majority of projects guestrooms have stopped (164) investment projects as well as stop its infrastructure projects in addition to stop Almjsrat in several cities and all these vital projects stopped and it has a negative impact on those cities .

he stressed that the majority of the investment projects will return to continue their work in the event of improved economic and financial situation in the country, especially since the ministerial sector has a priority in the work because the repercussions will be returned on the citizen directly, the agent explained that the decision No. 45 had addressed the problem of stalled projects due to the financial crisis, which Options included a compilation of the project , including, but conditions or by mutual consent with the contractor or the contractor comes to funding was a bank to finance the work according to certain benefits and most of the projects that have undergone stopped resolution 146. Agent He concluded by referring to the project of residential land serviced intended for distribution among the families of the martyrs and displaced completion of infrastructure, roads and power grids, sewage and taken away from them the value of services only
confirmed the completion of the water services and sewer complex Basmajh residential projects increased by more than 80 percent of