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Experts: investment did not support the Iraqi economy and the amounts of imports exceeded the $ 80 billion a year

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Experts: investment did not support the Iraqi economy and the amounts of imports exceeded the $ 80 billion a year




11/17/15

BAGHDAD / Acer Jabbar

Businessmen counting that the volume of investment in Iraq "still weak" and did not support the national economy or reduce import, which exceeded Al274 billion dollars since 2012, and even now, with the Investment Authority confirmed mapping a "basis" for investment in the country, and an expert opinion to Iraq to " urgent need "for foreign investment to promote own reality.
Business: Investing in Iraq size is still weak,
has been in business union member emphasized that the volume of investment in Iraq is still weak and did not contribute to the support of national production or reduce import, which exceeded Al274 billion dollars since 2012 and until now the size, returned to the opportunities currently available The industries Alstkhrajah and Agricultural Services.
said Manhal Abu loaf, in an interview for the (long-Presse) that "Iraq has imported during 2012 amounted to $ 55 billion, and the amount rose in 2013 to 67 billion, and in 2014, to 72 billion," likely that "exceeds the import eighty billion dollar size in the current 2015".
he promised Abu loaf, that it "sends a message confirming the lack of high investment opportunities to reduce imports and increase domestic production volume," adding that "more imported goods is the consumer."
The member of the men of the Union Iraqi business, that "the available investment opportunities in Iraq, currently represented by extractive industries, Kalptrrukemaoyat and gas, fertilizer and cement, as well as agro-industries and services," noting that "Investment housing is weak despite the need for it, as a result of the security situation and financial and administrative corruption, as evidenced get a lot of investors to leave the sector without direct implementation of the presence of obstacles in front of them. "
saw Abu loaf, that "the volume of investment in Iraq is still weak compared with the size of the nation's economy," he returned to "investment did not constitute a strong Iraqi economy in support, with the exception of the oil sector, as it has not been implemented of the investment budget of the state, amounting to $ 45 billion, only five billion dollars only.
"explained economist," What do of the total investment was pressed in the tourism sector, particularly the large commercial centers (malls), and communications, which can not be measured in which the size of the economy. "
Investment Authority: We put the map is the basis for investment in the country
Meanwhile affirmed the National Investment Commission adviser, that the Commission has prepared an investment map early 2015, the current, returned it represents the foundation base of the investment in the country.
He said Abdullah al-Bandar, in an interview (long-Bs) "The RTA is keen to provide the Iraqi investors in the Diaspora investment opportunities or to foreign competition in various sectors of the economy and support the construction and reconstruction, about contributing to the return of capital immigrant," noting that there is "political efforts to support the functioning of the Roadmap investment projects across the country based on a plan that developed by the Commission early in the current 2015, and the follow-up to the percentage of completion in the development and strategic projects, because that map represents the fundamental basis for investment.
"He said al-Bandar, that" who wants the implementation of any investment project should begin to collect information from the national investment and its subsidiaries body to find out the needs of each province and obstacles may face for discussion with those bodies to overcome. "
Baghdad trade: Iraq desperately needs foreign investment to promote own reality
contrast confirmed member of the Chamber of Commerce of Baghdad, that Iraq desperately needs foreign investment to promote own reality, calling for the need to accelerate the activation of investment housing sector, and provide the infrastructure of the new quality, to achieve economic and social development.
Fouad said grace Husseini , in an interview for the (long-Presse) that "Iraq suffered after 2003, large tremors in most aspects of life and sectors vital as well as the consequent huge debt," returned to "Iraq desperately needs foreign investment to promote own reality, with priority given to certain sectors such as housing, because it suffers a significant shortfall in that area with the arrival of a population of nearly 32 million people.
"He called on al-Husseini, to" speed up the activation of investment housing sector to secure the need to nearly three million housing units, by encouraging foreign investment and legislation to facilitate it.
"felt by room Baghdad trade, that "the agricultural sector suffered neglect due to the blockade and war previously circumstances, and lawlessness and lack of current stability, which led to a decline in productivity rates per acre and the average year and dependence on external import crops strategy, as wheat, barley, rice, and industrial crops, such as sugar cane and beet, cotton, seeds sunflower, as well as import of various kinds of fruit, vegetable oils, protein and dairy products by more than 80 percent, "and urged the need to" work strenuously for land reclamation and establishment of a new quench to reduce drought and desertification projects.
"said al-Husseini, that" the implementation of it needs to provide investment Huge estimated at $ 91 billion, of which 41 billion for agricultural projects, and 52 billion for the Ministry of Water Resources, "following up" The industrial sector was not much different from the sectors of housing, agriculture, in terms of the large deterioration which Ienaanh.
"He said al-Husseini, the" industrial projects of the State amounting to 192, where about 500 thousand member works, suffers technical failure, as well as the destruction and looting that suffered because of the chaos that has befallen the country, which had a negative impact on the reality and forced the government to support B194 billion and one hundred thousand dollars since 2005 until now. " .
he promised a member of the Baghdad Chamber of Commerce, that "the problem of power cuts hinder production and operation of labor projects, and increase the demand for oil derivatives, as severe bottlenecks caused high inflation and a large deficit for the citizens for dam needs basis to happen, so this sector aimed at adding new generating capacities up to a thousand megawatts for the years 2007-2014 at a cost of about $ 21 billion, "explaining that" needed to improve the electricity sector investments are estimated at 23 billion dollars and three million dollars for the current year until 2015, to gain access to obstetric capabilities of not less than 21 thousand MW. "

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