GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers.

Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country.

Please click here to download the latest report free of charge.

For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com

GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers.

Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country.

Please click here to download the latest report free of charge.

For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com

United Nations: recovery of the growth of the Iraqi economy after the defeat of Wahhabism

12/16/2017



Foreign investors are beginning to be attracted to doing business in Iraq as the economic situation improves and a declaration of defeat defeats Wahhabism in the country, a Financial Times report quoted international officials as saying.

"Many countries have expressed their desire for economic cooperation with Baghdad after they have declared their full victory over terrorism in the country," the report quoted UN adviser to the Iraqi economy Falah Lami as saying on Saturday.

"In recent months, many delegations and government and private companies in Europe and the United States visited Iraq," he said, referring in particular to the "recent meeting between officials of the Central Bank of Iraq and representatives of Airbus and Total, as well as the visit of the British Prime Minister and a group of companies American. "

"All this indicates the recovery of Iraq. After announcing the final victory over terrorism, many have indicated that they want to invest in various areas of the Iraqi economy. Iraq has become a lucrative and attractive place for economic cooperation," he said.

"After falling oil prices, Baghdad desperately needs foreign capital and Chinese companies are already investing in the Iraqi economy," he said.

At the end of 2016, the World Bank approved a $ 1.485 billion new aid package for Iraq aimed at boosting the country’s economy, stimulating private sector growth and supporting job creation, while the country’s 2018 budget said strict costing would help the Iraqi authorities pay part Of its debt to the International Monetary Fund.

http://www.iraaqi.com/news.php?id=33…1#.WjU2PlWnGUl

By John Lee.

Diala State Company, which is part of Iraq’s Ministry of Industry and Minerals, has announced opportunities to invest in a steam iron factory and a ceiling fan factory.

(Source: National Investment Commission)

By John Lee.

The 12th Economic Forum of the Iraqi-French Council of Businessmen [Iraqi-French Business Council] was held recently in Baghdad.

Dr. Sami Al Araji, Chairman of the National Investment Commission (NIC) opened the forum with a welcoming speech to the attendees including the Iraqi Minister of Trade, French State Minister for the Foreign Trade Affaires, the Iraqi Governor of the Central Bank and a number of governors, Vice Ministers, Consultants, Director Generals, Heads of Provinces’ Councils, Chairmen of Commercial Chambers and Unions, company owners and businessmen.

Mr. Jack Batist Lomowan, French State Minister for the Foreign Trade Affaires concentrated in his speech on the deep relation between the two countries and the serious wish of both governments to enhance this relation in various fields disregarding the big challenges Iraq is facing now.

He considered this meeting as a step towards the next donors’ conference in Kuwait. He also mentioned the most important French companies which are interested in working in Iraq in addition to the new ones that are eager to start business here. Oil & Gas, energy, water, and infrastructure are main sectors in Iraq in addition to agro industries and medication plus having the French TALS Co. for fund Insurance and protection for the French companies working in Iraq as France has landed Iraq $450-billion aiming at supporting the Iraqi-French relations specially after the Iraqi Prime Minister visit to Paris last October.

He ended his speech by referring to the importance of mutual trust bursting from real political desire of the two leaders to move ahead with the two countries relation and find mutual responsibility and in common interests.

Mr. Raghib R. Blaibil, head of The Iraqi- French Council of Businessmen, considered this forum is a precious opportunity for Iraqi and French businessmen to meet and discuss the fruitful business potential for both sides. He also mentioned the improvement in the economic situation after defeating ISIS in Iraq and the victory our security forces achieved on the ground.

The will be for reconstructing, bringing the displaced back to their homes and the elevated oil price are strong factors encouraging us to invite the French companies to work and invest all over Iraq strongly and freely with no hesitation or fear.

Mr. Blaibil addressed the French airlines companies to start a direct line between Baghdad and Paris after the Iraq opened its airs to the international civil aviation.

The Iraqi-French Council of Businessmen representative Mr. Arnold Brolack inquired about sectors Iraq is willing to invest with the French side and what Iraqi aid is available to achieve tangible results after unifying the two parties’ views.

Mr. Ali Al Alaq, Governor of the Central Bank, long speech emphasized on the successful financial policies of the Central Bank of Iraq during the past years. These policies, in cooperation with the Ministry of Finance, saved Iraq from the sudden oil price drop shock and unstable economic situation.

Dr. Mahir Hamad, Vice Minister of Finance, and Mr. Faisal Al Haimis, Director General of the Trade Bank of Iraq gave their speeches too.

Dr. Sami R. Al Araji ended the first session works with a detailed presentation of strategic opportunities available for investment in Iraq.

The second session started later where bilateral discussions between the Iraqi and the French parties in different economic sectors took place.

French Alstom Transport Co. signed two memoranda of understanding with local governments in Baghdad and Basra provinces to build modern metro with international specifications.

(Source: National Investment Commission)

By Padraig O’Hannelly.

HRH The Prince of Wales has paid tribute to the work of the AMAR International Charitable Foundation on the occasion of its 25th anniversary.

Addressing the celebration in London’s Lancaster House on Wednesday, Prince Charles said:

Today is an opportunity to honour the work of the remarkable AMAR teams … whose professionalism has delivered extraordinary outcomes in health and education for so many people over these twenty-five years.

“Each and every one of them, whether they work in Iraq or in another part of the Middle East, or in London or Washington, should feel deeply proud of all that AMAR has achieved. So too, should the many businesses and commercial entities – and in particular the Iraq Britain Business Council [IBBC] – whose magnificent support over the years has made all of this work possible.

“If I may, I would also like to pay a special tribute to Baroness Nicholson whose indefatigable leadership and extraordinary professionalism has been so crucially important to this endeavour for so many years.

He continued:

“AMAR has given us all reason to have faith in humanity. It has saved countless lives, created hope from despair and achieved nothing short of miracles.”

AMAR thanked the Prince for his wonderful support of the organisation since its founding, and in particular as its Patron for the past thirteen years.

Please help ensure Iraq’s children have the childhoods they deserve — support AMAR’s work today: https://appeal.amarfoundation.org/

(Sources: AMAR International Charitable Foundation, Clarence House)

By John Lee.

Iraq’s Ministry of Oil has announced that it will start rehabilitation of the Salahuddin refineries 1 and 2 in Baiji district.

Through its North Refineries Company (NOC), it has called on local and international companies to supply the equipment outlined below:

(Source: Ministry of Oil)

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Anbar’s western desert is a hiding place for the Islamic State group, locals say. And they fear the extremists will be back as soon as an opportunity presents itself.

Last week the Iraqi government declared victory over the extremist group known as the Islamic State. But, according to locals and military personnel living in the Anbar province, that declaration was premature.

“I have seen no genuine indications that this province is rid of the Islamic State group,” says Ayad al-Nimrawi, a 43-year-old who runs a restaurant in the Kilo area, about 160 kilometres along the road between Baghdad and the Syrian-Jordanian border. “I still see commercial trucks accompanied by security details when they come along here. Even the security forces cannot travel down here alone, they require extra protection.”

“I will only feel that we have won the final victory when I see life returning to this road as it was before the Islamic State came. We used to travel here at night without any fear of armed groups but today this international road is almost completely closed. As soon as dusk falls, this road is a death trap.”

The victory celebrations were not about the complete eradication of the IS group, rather they were meant to be a signal about the end of military operations, suggests Tariq Yusef al-Asal, a police chief and one of the leaders of Anbar’s tribal militias fighting the Islamic State. “We have the right to be proud of the victories achieved by our security forces in the fighting that’s gone on over three years,” he told NIQASH. “We have sovereignty over our land again.”

However, he adds, “it would be stupid to say that Iraq is now completely clean of extremist groups like the Islamic State. There are still sleeper cells and incubators inside and outside our cities.”

“No country – not even European nations – can claim they are completely clean of Islamic State members,” he continued. “Those sleeper cells will keep the organisation alive and sustain it. These groups make good use of any security vacuum in any country to try and achieve their aims.”

By Ahmed Mousa Jiyad.

Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Reforming and Transforming SOMO

This analysis was presented via Skype Conference to the management and staff of Iraq’s State Oil Marketing Organization (SOMO) on 12th December 2017:

Please click here to download the presentation.

Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya(at)online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here.