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WHERE IS THE TRUTH?
The Iraqi Prime Minister, Mustafa Al-Kazemi, met yesterday, Tuesday, a number of heads of German companies in Berlin on the second leg of his current European tour.
Al - Kazemi explained the level of challenges facing the Iraqi economy due to the Corona pandemic and the decline in oil export revenues, as well as the Iraqi government's relentless efforts to transform this crisis into a starting point and success that would advance the reality of the Iraqi economy.
Are European companies convinced of the necessity to invest in Iraq?
On this topic, the guest of the "Where is the Truth" program on Sputnik radio, economist Saleh Al-Hamachi, says:(open link to hear recording)
"In light of the decline of the European economy due to the Corona pandemic, German companies are looking for work outside the European market, and Iraq is a good market, but the Iraqi environment is not conducive to investment, so these companies can enter into limited, not large fields."
Al-Hamashi said, "German companies will focus on energy, transport and financial investments, but the success of that depends on preparing a set of laws and regulations that help provide an investment environment, and that will push all international companies to work in Iraq."
Al-Hamashi added, "What makes investment in Iraq successful is the presence of a large market and the absence of local competition, in addition to Iraq's large budget that amounts to $ 100 billion annually, but the problem lies in the Iraqi political, administrative and financial system."
Details in the attached audio file.
Prepared and presented by: Diaa Hassoun
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