August 24, 2010Economic adviser to U.S.: Iraq on the verge of an attractive investment environment
Revealed the importance of the framework agreement strategic economic factors
بغداد – حسين النجم BAGHDAD - Hussein star
Chief Economic Advisers to the U.S. government in Baghdad, John Diroshr that the Iraqi economy in the development, despite all the challenges and the strategic framework agreement will push the economic dimension of the Iraqi economy to prosperity.
And a big advisers that American companies have a great desire to work in Iraq and investment in all sectors and this is what we felt both in the Investment Conference held in Washington, or the daily correspondence that answer them in order to clarify the advantages of investing and discuss their visions for achieving the kind of information available to motivate them to work in Iraq .
Predicted Diroshr that Iraq will evolve and not dependent on the oil sector only, but he would work during the next ten years to run sectors of the Iraqi economy, all this is Iraq, in 2020 an economic mission in the region and the world, with the following text of the meeting, which was telecast by «the morning with a shift in the U.S. role towards activation of the strategic framework agreement in its economic forces after a reduction of U.S. troops in Iraq.
* Q: How do you see the reality of the Iraqi economy?
- We are very optimistic about the reality of the Iraqi economy to the attributes of the positives and incentives for success and resources of multiple and available in large production.
The thing which I am encouraged by that which came after security and stability to pay the Iraqi economy to address the imbalances and the challenges they faced and to the starting point for building a new base for business and the mega projects in Iraq. Iraq has made the session a task in its oil industry over the past year through the rounds of licensing the first and second push oil policy Iraq's good to push the Iraqi economy forward, especially as the international companies indicated that they would use all Maatmtlk of advanced technologies in production and management systems in high-performance and efficient environment in the development of Iraq's oil industry, and this is one of the Indicators of optimism to the reality of the Iraqi economy.
Then it's when we had the Washington Conference of the investment and found that U.S. companies are very interested to invest in Iraq and tried to reduce the more than 200 applications for U.S. companies to participate in the effectiveness of the investment that they wish to enter the Iraqi market and work, because there is no potential for the management of a major conference did not anticipate this volume of U.S. companies are in it.
U.S. government and within its policy to support the Iraqi private sector has a great program for the development of Iraqi businessmen and informing them of the experiences of American companies and we have succeeded in the work of this program, which contributes to many Iraqi businessmen during the year by visiting the United States, read, and create the kind of partnership with U.S. companies and American businessmen to work in Iraq and developing the Iraqi economy and environment have achieved so far 12 sessions in this area has been developed to work towards a broader sectors, especially energy, trade and housing ... Etc..
The U.S. government also maintains an extensive annual conference in Texas City by Iraqi companies participated by 50 companies this year and this indicative of a desire to develop and manage the development of the oil sector in Iraq, the contribution of the Iraqi private sector.
* What is considered important items are you working on now with the vocabulary of the strategic framework agreement in the economic dimension?
- The basic document is the cornerstone of the interaction of Iraq - the U.S. economic dimension between the Iraqi government and U.S., including trade, investment, telecommunications, petroleum, transportation, electricity, agriculture, money and all areas of interaction between the viable development of the two countries.
We have to distinguish in the area of agreement strategic between working with the Iraqi government and Iraqi private sector, then we give the latter is also important and a major impetus to growth and development of the business environment of the Iraqi economy. We are not a huge surprise to encourage oil and gas sector as it will help-return to the development of Iraq's infrastructure, which has suffered imbalances over the past 30 years. But we also need to focus to investment opportunities such as construction of residential complexes, information technology, agriculture, health care, these sectors will be highlighted during the coming period.
Then we have to forget Iraq's isolation marooned for 30 years for the global economy and Iraq, away from dealing with global economies and the world witnessed great transformations did not touch Iraq or benefit so far, or integrated with the global economy. Therefore, we will work with the Iraqi government to develop mechanisms Strategy accurate and priorities with the Iraqi government to build a partnership and important economic actors in the region, and we are ready to provide any advice requested by the Iraqi government to boost economic performance and move forward the development sectors and building an effective economic policy in the management of the Iraqi state.
* Q: How do you see the desire of U.S. companies after a reduction of troops in Iraq?
- I wish to note that the word of the reduction is very important now and alert the public the Iraqi holy reduction is the reduction of forces and not a withdrawal Kama and therefore that the reduction is very important for U.S. companies and to pay or increase the desire to work in the Iraqi market according to each individual specialty, and interest by U.S. companies after what happened rounds of oil licenses notified investors with confidence high in the performance of the Iraqi government and unwilling to pay the confidence of foreign investors to operate in the Iraqi market, but we must realize that U.S. companies when they begin work in any economic environment, consider two things, first is that the investments are profitable investing companies, and secondly The investment environment is safe.
And thus reduce the forces that an important indicator of the consolidation of security and the responsibility of the Iraqi government in its management and thus increase the willingness of investors and increase their motivation to invest When comparing the two points we have referred.
If we remember the past few months when he visited a large delegation from U.S. Chamber of Commerce to Baghdad and met with Iraqi ministries and private sector companies and the values of the business environment in Iraq.
But in return must Nwcr that U.S. investor is wondering about other issues and files relating to the economic environment of Iraq, and questions, although Tkulaiditha now it is the following, how to register a foreign company?
What is the size of the tax?
How long does the time of registration, you can guarantee that the agreement in effect with the Party of Iraq and what is the warranty? How to Turn deduction of trade and what type of court, which specializes in commercial dispute resolution? . .
But Iraq today has to realize that the 30 years that had detached from the world must be capable of Ban urges steps to attract investment and develop the local business environment attractive and works on the twinning with European and Asian countries and see how it will attract investment to their countries and to modernize their economies, it also has to be not to emphasize that the size of unemployment and to rebuild job opportunities will be the oil sector insufficient to solve this problem, but that investment and operation of the local economy capable of Bhhalp and reduce the volume of unemployment, I must mention here that Iraq and throughout the centuries preceding the establishment of a national economy multi-halls, and was unique in some agriculture, tourism and trade.
And therefore that Iraq today needs to be clarified Anmozjh Economic and ways to diversify national income.
* How do you see the local sectors of the economy?
- The fact that the local economy through SMEs in the development but requires legislation incubator and business environment Mnumeip for the gross domestic environment also the financial sector, especially private banks in the development and there is a perceptible shift in the participation of economic development and this is something good and important to the national economy of Iraq. But now we We are working with the Iraqi government to work on the development of the law work of private banks in Iraq and Iraqi commercial law because they are interested in small and medium industries and the engines of foreign investments.
* What are the ways to enter the World Trade Organization and how you support Iraq to enter?
- We ascribe Iraq with full force as possible to Iraq's entry into the WTO, by contrast, that the process is complex and not easy, and we gave all the advice and move forward with the Iraqi government, and we sensed from the World Organization for International Trade in preparation for the acceptance of Iraq. And now the Iraqi government engaged in a series of measures and steps and as I have said that Iraq's membership would be a vote of high confidence climate of trade of Iraq in the membership of the WTO by the Iraqi government to protect and provide the investment climate and to preserve intellectual property.
* How is your vision for reforming the Iraqi economy .. هل ممكن اعطاء امثلة على ذلك ؟ Is it possible to give examples of that?
-We have many programs of economic reform, and I'll give examples of implementation and work with the Iraqi government to send management solutions to improve performance, such as trade law through the Commercial Law Development Program CLDP, and we need many experts and specialists in this area for example the issue of conflict resolution, commercial and intellectual property protection mechanisms and we are working on training and development and give advice to the Iraqi side.
We also help the CMC CSM and worked to develop its work and display many examples of his work through studying the U.S. experience in the same jurisprudence as we have in the United States, the Federal Information and Communications FCC, and of course the aim is to develop the rules and ways to build revenue and improve quality of services provided Internet and phone .... Etc. of services.
* How do you see the future of the Iraqi economy, 2020?
The optimistic for the future and this relates to the tireless efforts in the management of financial resources and balanced development that will develop the national economy, and that the proceeds through the active involvement of non-oil sectors. But we must realize that the strong financial returns can not be in front of extreme poverty and what we want Iraq in 2020, Oil is not a unique solution to every problem is economic and not the solution to all problems of Iraq through the proceeds, but you must have to develop agriculture, tourism and transport.
He added to this that Iraqi officials have demonstrated a high level of awareness and responsibility in the activation of the Iraqi economy, they realized to be a fair distribution of resources and the development of parallel and stimulated sectors inert towards production through its recovery profits sectors, actors and stakeholders and thus to achieve complementarity in performance to build the Iraqi economy is solid and strong service sector and small and medium enterprises. Lastly, we must remember that the history of Iraq is based on the spirit of trade and investment in and features that characterized Iraq in the past decades and this has prosperity during the critical periods from the date of the Iraqi economy, and we hope to return these periods booming in the coming years.
Alsabah
