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)
A member of the parliamentary finance committee, Haitham al-Jubouri, said Wednesday that "Iraq loses 263 dollars per second because of corruption in the country," explaining that "the parties interfere in the work of anti-corruption committees.
"Jubouri said in a statement, "Trend Press," that since the application of the law on customs tariffs in Iraq by 2013 so far was expected to be the state revenues estimated at 8 to 9 billion dollars a year, because the size of what is sold from the window of the currency in the Central Bank Iraq is more than 40 billion dollars,
if we take the lowest percentage of customs and 10% added to the ratio of 3% of the customs duty is the total 13% of this amount will be the value of customs 5.2 billion dollars.He added that "Iraq is losing 263 dollars per second because of the corruption of customs officials," noting that "the large and rampant corruption is located at the border crossings.
"He pointed out that "we in parliament formed a committee, but because of the interference of political parties in its work has been terminated.
"He explained that "the only step to combat corruption is to strengthen the main regulatory tools, namely the Integrity Commission and the Bureau of Financial Supervision and the security services and reform of the judiciary because there are many problems in the judiciary where some files are transferred to the judiciary, but because of corruption, these files are settled by some corrupt" . He pointed out that "can not combat corruption by raising slogans and the House of Representatives to leave the courtesies that are at the expense of the Iraqi citizen.
"The House intends to complete the questioning of ministers as former finance minister and former defense minister in the past period, while confirming his quest to complete the questioning of new ministers in the next legislative session.
BAGHDAD (Reuters) – An Iraqi deputy confirmed the authenticity of the information contained in an international report on the wealth of Iraq’s political leaders, estimated at $ 700 billion, distributed among different parties and MPs, while the money was monitored in banks in the United States, Britain, Canada and Switzerland.
"The Integrity Commission received a detailed report on the wealth of each of the political forces active in Iraq," a parliamentary source said, speaking on condition of anonymity.
"Theseinclude cash and other immovable property such as real estate and bonds Shares and shares in companies. "
DNO ASA, the Norwegian oil and gas operator, today announced a tripling of production from the Peshkabir field in the Tawke license in the Kurdistan region of Iraq to 15,000 barrels of oil per day (bopd) following completion of the Peshkabir-3 well testing, stimulation and cleanup program.
A total of 11 zones in a 1.2 kilometer horizontal section of Cretaceous and Jurassic reservoir in the Peshkabir-3 well were individually tested and flowed successfully, of which ten were oil zones and one a gas zone.
The oil zones tested an average of 5,340 bopd per zone on a 64/64″ choke, with the highest individual test rate of 7,200 bopd. A multi-zone combined production test totaled 12,500 bopd on a 128/64″ choke from five zones.
Production from the previously drilled Peshkabir-2 well, in operation since May, together with that of the new Peshkabir-3 well are currently processed through temporary test package facilities and trucked to DNO’s adjacent Tawke field facilities for export.
As previously announced, the Tawke license partners are proceeding with fast track plans to commission an early production facility by yearend and complete installation of pipeline connections early in 2018 to allow ramp up of output at the Peshkabir field.
Preparations are underway to drill the Peshkabir-4 well which will also be designed to test the underlying Triassic reservoir.
DNO operates and has a 75 percent interest in the Tawke license, with partner Genel Energy plc holding the remainder. The license contains the Tawke and Peshkabir fields whose combined year-to-date production has averaged 110,000 bopd.
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
It’s beginning to look like Iraq won’t make it to the polls on time — again.
Though Prime Minister Haider al-Abadi just announced Dec. 5 that parliamentary and local elections will be held even earlier than scheduled — on May 12 instead of May 15, to avoid a conflict with Ramadan — several events may be coalescing to delay voting.
The legislature is still struggling with disputes over an election bill that must be approved by Dec. 15 if parliament members want to see its contents put into effect in time. At the same time, lawmakers are also busy hashing out a budget bill. The current session is already in overtime; it was supposed to have ended Nov. 30.
The Independent High Electoral Commission says it needs six months to prepare for elections based on any new laws. Otherwise, the current law will remain in effect. The law as it pertains to legislative elections isn’t the main problem, since parliament agreed to abide by the Sainte-Lague method of parliamentary seat allocation. But there are disagreements over local elections (provincial councils), especially regarding the disputed Kirkuk province. Differences raised among the province’s Arab, Turkmen and Kurdish components would be difficult to settle in such a short time.
Rahim al-Daraji, a member of parliament’s Legal Committee and a member of the parliamentary Shiite National Alliance bloc, told Al-Monitor, “The dispute over the elections in Kirkuk is the main obstacle. The province hasn’t witnessed elections since 2005, and several proposals have yet to be settled in the absence of a population census. These proposals include holding elections in the province based on the equation that Kurds, Turkmen and Arabs [each] have 32% of the seats, while the remaining 4% of the seats are allocated to Christians for one round.”
Daraji said the only option he sees now is to extend the legislative term until a new electoral law is approved, and to postpone the elections for weeks or even months.
French company Alstom has signed a Memorandum of Understanding (MoU) with Iraqi government for the development of urban transport in Baghdad and Basra.
The MoU was signed during the Franco-Iraqi government authorities meeting, in the presence of Dr.Sami Al Araji, Head of National Investment Commission (NIC) of Iraq and Jean-Baptiste Lemoyne, French Secretary of State.
The MoU covers two major projects. The first project is to implement a 20 km Elevated Train in Baghdad, with the supply of rolling stock, electromechanical systems, tracks, associated civil works. The light rail system would link Al-Mustansirya, AlShab, Al-Wazyria, Alsarafia AlEtafia bridge, Al-Khadumia, AlMuthana airport and Al-Alawi.
The second project focuses on the development of the Metro System in Basra, which consists of two elevated lines of approximately 30km each, 15 stations and one depot for each line from North to South, from Zubair to Shat Alarab and from East to West, from Karma to the Desert.
These projects would significantly contribute to the development of the country’s urban infrastructure and national economy.
“We appreciate the opportunity to develop industrial cooperation with the Republic of Iraq, in order to better address the country’s needs for urban transportation. Alstom is ready to bring its innovative technologies and sees the signature of this MoU as a first step towards the development of a long-term partnership with Iraq”, said Bernard Peille, Managing Director of Alstom in Western & Central Asia.
Alstom is already well established in the Middle East & Africa Region with more than 3,800 employees, 1,800 suppliers and present in more than 15 countries in the region with offices and joint-ventures in Algeria, Morocco, South Africa and Kazakhstan.
Russia’s Gazprom Neft has launched the commercial operation of a 1.6 billion cubic metres capacity gas processing plant at its Badra field, Iraq.
Alexander Novak, Minister of Energy of the Russian Federation, was present at the opening ceremony for the new facility, together with the Minister of Oil of the Republic of Iraq, Jabbar al-Luaibi, and Gazprom Neft CEO Alexander Dyukov.
Dry feed gas, processed at the Badra field, is transported via a 100-kilometre pipeline to the Az-Zubaidiya power station, supplying electric power not just to provinces throughout Iraq, but also to the capital city of Bagdad.
In addition to this, gas will be used to meet the Badra project’s own needs as fuel for the gas-turbine power plant. Five gas turbines are able to produce a total 123.5 MW of electric power, supplying oil and gas processing facilities, drilling rigs and oil-producing wells. A 10-MW overhead power line will soon begin feeding into the Gazprom Neft Badra accommodation complex, as well as into the town of Badra and neighbouring population centres.
Natural gas liquids (NGLs) produced at the Badra project’s gas processing plant will be used to produce LPG to be supplied to the Iraqi state-owned Gas Filling Company. The plant also includes facilities for sulphur production and granulation.
Alexander Dyukov, Gazprom Neft CEO, made the following comment at the official opening ceremony of the gas plant:
“Gazprom Neft is continuing its development of the Badra field, in strict adherence to the field development plan. Today sees the full-cycle gas plant — built by our company using the most cutting-edge technologies available on the world market — going into commercial production.
“This is a unique enterprise for the region, at which Gazprom Neft has, since starting work, been able to monetize all of the hydrocarbons produced here, ensuring associated-petroleum-gas (APG) utilisation of at least 95 percent.”
(Source: Gazprom Neft)
BAGHDAD – Abbas Aboud – Shaimaa Rashid
He pointed out that the citizen may encourage the employee to corruption by offering him a bribe. He commended the actions of Prime Minister Haider al-Abadi in combating this serious scourge.* With the celebration of the Week of Integrity, and in response to skeptics of its work, what are the achievements of the Commission in the past period?
Integrity must be a behavior and a method. We need to spread this culture through the annual integrity week.
The field teams received praise at the Arab and international levels, Including the Ministries of Industry, Transport, Education, Agriculture, Health, Justice, the Real Estate Bank and perhaps some other ministries, where their investigations resulted in the referral of ministers, deputy ministers and leaders to the judiciary as a result of the work of these teams.
The Commissionissued decisions prohibiting the travel of a number of senior officials, which is unprecedented, the last of which is the governor of Basra, who was not prevented by the judiciary from traveling.
Deputies and ministers and provincial councils in full, which forced them to review the body and the judiciary to resolve their position .. What many do not know that the work of the Commission is an achievement, but implementation is subject to the judiciary and the executive bodies.
In your opinion, is the defect due to the procedures of the Commission or to the articles of the Penal Code?
The Parliament has demanded legislation to combat corruption, but we have not yet found a response.
The Commission has had to propose several laws that facilitate its work, On the information and the protection of witnesses and informants and the amendment of the Penal Code in force and also proposed to tighten all penalties associated with corruption and waste of public money .. Of course some of the deputies responded to the proposals of the Commission, but this response remained little and did not materialize on the ground, Its only need political will to make them come out legal as a system.
I have been very much aware of the media that did not shed light on the negative aspects of this law and the citizen is aware of the negative effects of its application. The regulators are frustrated and will give criminals the opportunity to escape their crimes.
Information that is important and dangerous should be sent to the concerned bodies, and not talk on the street or Facebook, And I think that some of these publications are intended to embarrass the government and weaken the citizen’s confidence in the state and its regulatory bodies.
The subject of international experts, in short, is that Iraq requested United Nations Anti-Corruption Assistance to provide the government and the Integrity Commission with some experts for advice and advice.
We met with representatives of the United Nations. We reached a preliminary agreement to provide advice and assistance in money recovery and extradition files.
From our request to the experts .. As for what is being circulated in the street of rumors and rumors that international experts are conducting the investigations is not true at all, Iraqi laws do not give them any validity.
The files are ready and some arrived Interpol International, which issued a red bulletin distributed to the countries of the world for the confiscation and return of funds to Iraq.
The problem in this file is political because there are countries that do not cooperate with us, which requires the assistance of the government and the Ministry of Foreign Affairs to fulfill their responsibility in approaching these countries.
As a result of our work and our investigations, the former Minister Abd al-Falah al-Sudani was arrested in Beirut according to the file of the Commission and the red bulletin issued by Interpol.
The Commission also succeeded in preparing the file of the former secretary-general of the Ministry of Defense Ziad al-Qattan. He was arrested in Jordan, For the purpose of his extradition to Iraq and trial.
However, despite the legal registration, the TRA is proud that two years ago Masoud Barzani, Najirvan Barzani and Jalal Talabani demanded disclosure of their financial liabilities.
The answer came from the region that we are a federal body that has no jurisdiction over the region.
The Commission insisted on its position on the grounds that Jalal Talabani, President of the Republic of Iraq, regardless of being a Kurd and is obliged to disclose his financial debt, while the President of the region and Prime Minister positions are sovereign and take their salaries and privileges from the public budget and must disclose their financial debt also.
The country is suffering from corruption and all the regulatory bodies must cooperate, not at least at this stage.
There are thousands of cases in which the offices of the public inspectors have been investigated. Through which the waste of public money .. Instead of these calls, we call on the House of Representatives to expand the work of the Commission and the parents and inspectors general.
The second resignation, Health never happens.
From sending them next year for training in modern investigative techniques and raising their efficiency.
.. The problem facing us that the judiciary does not issue a judgment on those who do not disclose the financial burden On the grounds that there is no explicit legal provision that makes disclosure of receivables a crime but is a disciplinary offense.http://www.alsabaah.iq/ArticleShow.aspx?ID=148536