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Iraq requests Saudi Arabia's support for the budget .. and the Minister of Finance reveals the details of his visit to the Kingdom
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Iraq requests Saudi Arabia's support for the budget .. and the Minister of Finance reveals the details of his visit to the Kingdom
Iraq requests Saudi Arabia's support for the budget .. and the Minister of Finance reveals the details of his visit to the Kingdom
May 22, 2020
Direct: The Iraqi Minister of Finance revealed the reasons for his visit to the Kingdom of Saudi Arabia, which are based on 3 axes of developing relations with the Kingdom of Saudi Arabia and supporting the Iraqi economy .
Minister Ali Abdel-Amir Al-Alawi said, in a television interview, that it will be broadcast today, Friday, and its details were transmitted by the correspondent of the Iraq News Agency, "Conscious". Iraqi markets through investments, and the activation of the commercial side . "
Allawi added that "Iraq has a plan to move towards achieving economic and financial balance with neighboring countries, and be the Iraqi market is open to everyone away from damage to a particular party " , pointing out that the government is seeking to encourage Saudi companies to contribute to the reconstruction of the country.
The minister stressed that Iraq needs immediate financial support in order for the government to fulfill its pledges to employees, stressing that there are many obstacles that prevented investments in Iraq, including the laws and regulations in force, the loss of the incubator structure for foreign investment, the lack of banks at a global level, as well as the accounting and legal system that is not encouraging , As well as an unpopular land acquisition system as well.
The Minister indicated that the administrative apparatus in Iraq is now not compatible with the requirements of the foreign investor, and it also contains major violations of corruption and interference in the way of taking decisions from parties not related to the investment work, interfering for the private and partisan benefit which is one of the main obstacles that exclude the foreign investor.
The Minister of Finance pointed out that when the investor sees this environment, he will reserve, and whatever the Iraqi market is, it will require encouragement from the private sector, which also suffers from these constraints .
The office of Prime Minister Mustafa Al-Kazemi said in a statement that Finance Minister Ali Allawi went to the Kingdom of Saudi Arabia an envoy from the Prime Minister to discuss bilateral relations and economic conditions in the region and encourage investment.
Nominations
https://www.mubasher.info/news/3645154/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%B7%D9%84%D8%A8-%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D9%88%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%8A%D9%83%D8%B4%D9%81-%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84-%D8%B2%D9%8A%D8%A7%D8%B1%D8%AA%D9%87-%D9%84%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9/
May 22, 2020
Direct: The Iraqi Minister of Finance revealed the reasons for his visit to the Kingdom of Saudi Arabia, which are based on 3 axes of developing relations with the Kingdom of Saudi Arabia and supporting the Iraqi economy .
Minister Ali Abdel-Amir Al-Alawi said, in a television interview, that it will be broadcast today, Friday, and its details were transmitted by the correspondent of the Iraq News Agency, "Conscious". Iraqi markets through investments, and the activation of the commercial side . "
Allawi added that "Iraq has a plan to move towards achieving economic and financial balance with neighboring countries, and be the Iraqi market is open to everyone away from damage to a particular party " , pointing out that the government is seeking to encourage Saudi companies to contribute to the reconstruction of the country.
The minister stressed that Iraq needs immediate financial support in order for the government to fulfill its pledges to employees, stressing that there are many obstacles that prevented investments in Iraq, including the laws and regulations in force, the loss of the incubator structure for foreign investment, the lack of banks at a global level, as well as the accounting and legal system that is not encouraging , As well as an unpopular land acquisition system as well.
The Minister indicated that the administrative apparatus in Iraq is now not compatible with the requirements of the foreign investor, and it also contains major violations of corruption and interference in the way of taking decisions from parties not related to the investment work, interfering for the private and partisan benefit which is one of the main obstacles that exclude the foreign investor.
The Minister of Finance pointed out that when the investor sees this environment, he will reserve, and whatever the Iraqi market is, it will require encouragement from the private sector, which also suffers from these constraints .
The office of Prime Minister Mustafa Al-Kazemi said in a statement that Finance Minister Ali Allawi went to the Kingdom of Saudi Arabia an envoy from the Prime Minister to discuss bilateral relations and economic conditions in the region and encourage investment.
Nominations
https://www.mubasher.info/news/3645154/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%B7%D9%84%D8%A8-%D8%AF%D8%B9%D9%85-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D9%88%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D9%8A%D9%83%D8%B4%D9%81-%D8%AA%D9%81%D8%A7%D8%B5%D9%8A%D9%84-%D8%B2%D9%8A%D8%A7%D8%B1%D8%AA%D9%87-%D9%84%D9%84%D9%85%D9%85%D9%84%D9%83%D8%A9/
claud39- Elite Member
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Finance Minister: Agreement to activate the electrical connection between Iraq and Saudi Arabia
Finance Minister: Agreement to activate the electrical connection between Iraq and Saudi Arabia
05/23/2020
It is noteworthy that the Finance Minister Ali Abdul-Amir Allawi arrived in Saudi Arabia yesterday, Friday, on a visit that he said includes three axes to develop relations between the two countries.
05/23/2020
Economy News _ Baghdad
Finance Minister Ali Abdul-Amir Allawi announced, on Saturday, an agreement with Saudi Energy Minister Abdul Aziz bin Salman, to activate the electrical connection between Iraq and Saudi Arabia.
Allawi wrote in a tweet on Twitter: "During my meeting with Prince Abdulaziz bin Salman, it was agreed to activate the electrical connection between Iraq and Saudi Arabia, and to develop the energy market in addition to investment and participation in financing projects for the generation, transmission and distribution of electrical energy (renewable and conventional) in Iraq."
It is noteworthy that the Finance Minister Ali Abdul-Amir Allawi arrived in Saudi Arabia yesterday, Friday, on a visit that he said includes three axes to develop relations between the two countries.
http://economy-news.net/content.php?id=20386
claud39- Elite Member
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Join date : 2018-11-04
Finance Minister: Supporting the budget and stimulating the Kingdom’s companies to invest in Iraq is the most important axis of the visit to Saudi Arabia
Finance Minister: Supporting the budget and stimulating the Kingdom’s companies to invest in Iraq is the most important axis of the visit to Saudi Arabia
05/22/2020
05/22/2020
Economy News _ Baghdad
The Prime Minister's envoy to Saudi Arabia, Minister of Finance Ali Abdul-Amir Allawi, revealed on Friday the axes that will be discussed with the Kingdom to support the Iraqi economy.
Allawi said in statements to official television and seen by "Al-Iqtisad News", "The aim of the visit to Saudi Arabia is to go through three axes to develop Iraq’s relationship with the Saudi side, the first of which is immediate cash support to the budget, while the second axis is to motivate Saudi companies and private institutions especially in the areas of energy And agriculture and urged them to enter the Iraqi market through investments, "pointing out that" the third axis is the activation of the commercial side. "
Allawi added that "Iraq has a plan to move towards achieving an economic and financial balance with neighboring countries and that the Iraqi market be open to everyone away from harming a specific party."
He continued, "The government seeks to urge Saudi companies to contribute to the reconstruction of the country," stressing that "Iraq needs immediate financial support so that the government can fulfill its obligations towards employees."
He stressed that "there are many obstacles that prevented investments in Iraq, including the laws and regulations in force and the loss of the incubating structure for foreign investments, as well as the accounting and legal system that is not encouraging, as well as the system of land acquisition that is not encouraging as well, all of these obstacles prevent the Saudi investor and any other investor from investing in other areas Outside the oil fields, "he called for" the need to have an environment conducive to investment, the replacement of those laws, and the treatment of existing problems and obstacles. "
He pointed out that "the administrative apparatus in Iraq is now inconsistent with the requirements of the foreign investor, and it also contains major breaches of corruption and interference in the way of making decisions from parties not related to the investment work, interfering for the private and partisan benefit which is one of the main obstacles that exclude the foreign investor" , Pointing out that "the investor when he watches this environment will be conservative, and whatever the Iraqi market is, it requires encouragement from the private sector, which also suffers from these constraints."
http://economy-news.net/content.php?id=20382
claud39- Elite Member
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Join date : 2018-11-04
The Minister of Finance denies requesting borrowing from Saudi Arabia and calls on those with high wages to accept the sacrifices
The Minister of Finance denies requesting borrowing from Saudi Arabia and calls on those with high wages to accept the sacrifices
05/24/2020
05/24/2020
Economy News _ Baghdad
Finance Minister Ali Abdul-Amir Allawi, on Sunday, denied reports that Iraq had requested to borrow about three billion dollars from Saudi Arabia, and while he called employees with high salaries to accept what he called "sacrifices", he pointed to the "very worrying" equation in the budget.
Allawi told the Saudi newspaper, Asharq Al Awsat, that "the electricity sector was taken into consideration during his meetings with Saudi officials in Riyadh," adding that "it is necessary to connect the electrical network to Iraq with the Saudi and Kuwait networks, and this diversity is important for the economic balance in Iraq."
Allawi pointed out, "his agreement during his meetings with the Saudi side to submit a detailed note during the next week on how to develop the relationship, and what are the obstacles and projects that can be implemented in the immediate and medium term, which may be a model for economic relations, to be based on numbers, goals and structure."
In a separate context, Allawi denied the reports that talked about Iraq asking Saudi Arabia to borrow approximately three billion dollars, noting that "these words are not true, but if we talk about the size of the support that we will get from Saudi projects that can be implemented in Iraq, and in If the capital is raised for these projects, we may reach this number and more, we want to move the investment inside Iraq.
He continued, "We have immediate financial problems in Iraq related to deficits and loss of flexibility, and the Iraqi budget is based on two assumptions: one is volatile, which is oil prices and the amount of production, and the second is fixed, which is salaries and pensions and workers, and this equation is very worried."
Allawi called on Iraqis, "especially from the category of employees who have a rise in their returns, to accept sacrifices for the sake of rebalancing and rebuilding Iraq, but the poor of them are able to guarantee them."
http://economy-news.net/content.php?id=20404
claud39- Elite Member
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Join date : 2018-11-04
Iraq’s Minister of Finance concludes visit to Saudi Arabia
Iraq’s Minister of Finance concludes visit to Saudi Arabia
23 May 2020
Iraq’s Minister of Finance, Ali Allawi, on Saturday concluded a visit to Saudi Arabia, during which he delivered a message from Prime Minister, Mustafa Al-Kadhimi to King Salman bin Abdulaziz Al Saud.
During his visit, Mr. Allawi also held meetings with the Minister of Energy, Prince Abdulaziz bin Salman Al Saud, the Minister of Foreign Affairs, Prince Faisal bin Farhan Al-Saud, the Minister of Finance, Mohammed Al-Jadaan, the Minister of Commerce and Investment, Majid Al Qasabi, and other senior Saudi officials.
In a television interview before leaving Baghdad, Mr. Allawi said that his discussions with Saudi officials will focus on encouraging Saudi companies and institutions, especially in the fields of energy and agriculture, to enter the Iraqi market, invest in Iraq and play a part in the reconstruction of the country.
He underscored that the new Iraqi government is pressing ahead with plans to balance Iraq’s economic relations with neighbouring countries, saying that the Iraqi market is open to all.
Iraq’s Finance Minister acknowledged during the interview that there were several factors that discourage investors from coming to Iraq, and highlighted the legal and administrative frameworks, the banking system and land acquisition rules as some of the key impediments that the new government is determined to address in order to create a welcoming, modern and efficient investment climate in Iraq.
Mr. Allawi’s visit to Saudi Arabia is the first in a series of planned official visits to countries in the region to strengthen economic cooperation and bolster trade.
https://gds.gov.iq/iraqs-minister-of-finance-in-saudi-arabia-for-talks-on-economic-cooperation-investment/
23 May 2020
Iraq’s Minister of Finance, Ali Allawi, on Saturday concluded a visit to Saudi Arabia, during which he delivered a message from Prime Minister, Mustafa Al-Kadhimi to King Salman bin Abdulaziz Al Saud.
During his visit, Mr. Allawi also held meetings with the Minister of Energy, Prince Abdulaziz bin Salman Al Saud, the Minister of Foreign Affairs, Prince Faisal bin Farhan Al-Saud, the Minister of Finance, Mohammed Al-Jadaan, the Minister of Commerce and Investment, Majid Al Qasabi, and other senior Saudi officials.
In a television interview before leaving Baghdad, Mr. Allawi said that his discussions with Saudi officials will focus on encouraging Saudi companies and institutions, especially in the fields of energy and agriculture, to enter the Iraqi market, invest in Iraq and play a part in the reconstruction of the country.
He underscored that the new Iraqi government is pressing ahead with plans to balance Iraq’s economic relations with neighbouring countries, saying that the Iraqi market is open to all.
Iraq’s Finance Minister acknowledged during the interview that there were several factors that discourage investors from coming to Iraq, and highlighted the legal and administrative frameworks, the banking system and land acquisition rules as some of the key impediments that the new government is determined to address in order to create a welcoming, modern and efficient investment climate in Iraq.
Mr. Allawi’s visit to Saudi Arabia is the first in a series of planned official visits to countries in the region to strengthen economic cooperation and bolster trade.
https://gds.gov.iq/iraqs-minister-of-finance-in-saudi-arabia-for-talks-on-economic-cooperation-investment/
claud39- Elite Member
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Join date : 2018-11-04
Finance Minister Dr. Ali Allawi concludes his visit to the Kingdom of Saudi Arabia
Finance Minister Dr. Ali Allawi concludes his visit to the Kingdom of Saudi Arabia
Saturday 23 May 2020
The Minister of Finance concluded, Dr. Ali Allawi, on Saturday, an official visit to the Kingdom of Saudi Arabia, during which he conveyed a message from Prime Minister Mustafa Al-Kazemi to the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, during which he discussed economic relations between the two countries.
During his visit, Mr. Allawi held meetings with the Minister of Energy, Prince Abdulaziz bin Salman Al Saud, the Minister of Foreign Affairs, Prince Faisal bin Farhan Al Saud, the Minister of Finance, Muhammad Al Jadaan, and the Minister of Trade, Majid Al Qasabi.
In a television interview prior to his departure from Baghdad, Mr. Allawi explained that his discussions with Saudi officials will focus on encouraging Saudi companies and institutions, especially in the fields of energy and agriculture, to enter the Iraqi market and invest in Iraq and play a role in the country's reconstruction.
The Minister of Finance asserted that the new Iraqi government is moving forward with its plans to achieve economic and financial balance with neighboring countries, and that the Iraqi market be open to all, away from harming a certain party.
He also stressed that there are many obstacles that affected the level of investments in Iraq, including the laws and regulations in force, and the banking system, in addition to the land acquisition system, adding that the Iraqi government will work to create an environment conducive to investment, and to address these obstacles.
The visit of the Iraqi Finance Minister to the Kingdom of Saudi Arabia is part of a series of official visits to the countries of the region to enhance economic cooperation and stimulate trade.
http://www.mof.gov.iq/Pages/MOFBannerHeadlineDetail.aspx?BannerNewsID=827
claud39- Elite Member
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Join date : 2018-11-04
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS
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