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Optimal investment increases Iraq's competitiveness with the countries of the region

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Optimal investment increases Iraq's competitiveness with the countries of the region

08/8/2018 12:00 am
Baghdad / Farah Al-Khafaf


At a time when neighboring countries seek to find commercial and industrial channels similar to the Silk Road, an economist urges activating the opportunities available to Iraq to be the maritime port and linking it to the dry canal between the Gulf and Europe.

Economist member of the Baghdad Economic Forum Amer Jawahri said in a statement to the "morning": "The geographical location of Iraq and its natural resources, including the vast land, along with economic resources, make it the link between East and West.

Financial income

Al-Jawahiri said that "opportunities are available to be Iraq's maritime port, specifically the implementers of FAO and Umm Qasr to connect the dry channel between the Gulf and Europe," urging "to develop plans to achieve this project and attract foreign and local investment in this area, to achieve large financial revenues, Among regional States".

Dry channels

He pointed out that "the neighboring countries began to resort to the work of dry channels, as in the case of Iran, according to the sovereign agreement with Azerbaijan and Russia to work a dry channel from Bandar Abbas to the north to Europe, as well as the 9 July agreement between Kuwait and China, to invest the islands of Warba and Bubian for 99 years, China invests $450 billion, so it was named belt and the road (Belt and Road) was not called Silk Road.

The trends of these countries (according to studies published after the decline in oil prices during the past two years, to improve their resources without dependence on oil as a main source of public revenue, and contribute to raise the level of regional and global competitiveness of those countries, and provide employment opportunities for young people wishing to work outside the public sector.

The Kingdom of Saudi Arabia is also setting up the industrial and commercial tourism zone to be implemented in the north-west of the Kingdom on the Red Sea in cooperation with Egypt, which invests 500 billion dollars in addition to the Saudi railway project.

Population density

According to Jeweler, that "these investments and this size is intended to target the population density that surrounds those countries for the duration of their markets goods and imported goods, considering that these projects will lose Iraq competitiveness."

To this, the jeweler on the "need and the need for the country to establish a specialized body leading the economic file professionally and seriously, make Iraq a healthy business environment attracts diverse investments, to achieve well-being in Iraqi society."

Higher Council

In turn, he called on the next government to "enjoy the economic file for the most part of the government program, and the formation of the Supreme Council for Economic Affairs, which has a close relationship to the financial and economic affairs in Iraq, puts priorities of development goals and sets visions and plans that serve the economic policies in the country to achieve goals Desired."

He also urged that "this council includes the competencies that draw goals and real plans, and seriously implement and overcome the difficulties for investors wishing to set up their projects in Iraq, involving the experiences of the private sector, to be full-time to work with the economic file in all its joints in the country, Executive plans and decisive decisions to conduct business, and provide the best services to citizens."

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