The Director General of the Economic Department at the Ministry of Industry and Minerals, Mr. Munem Ahmed Hassan, held today Tuesday, June 16, a meeting attended by the Deputy Director General of the Department, Mr. Ahmed Fadel Fattah, after his new duties in the department and the heads of the departments in it were taken to take a number of recommendations to develop the department's work and raise the level of performance in it In a manner that guarantees the implementation of the duties and tasks assigned to it in the required manner during the period of the partial ban and to emphasize the central directives of the need to maintain the flow of completion of the transactions related to the formations of the ministry and external parties at the specified times without any delay, as well as to put forward proposals to overcome the current obstacles and difficulties in the interest of work and serve the work of the ministry and its formations all.www.industry.gov.iq/index.php?name=News&file=article&sid=5941
The Economic Department of the Ministry of Industry and Minerals holds a meeting to activate the work of the department and improve its performance during the current period
The Director General of the Economic Department at the Ministry of Industry and Minerals, Mr. Munem Ahmed Hassan, held today Tuesday, June 16, a meeting attended by the Deputy Director General of the Department, Mr. Ahmed Fadel Fattah, after his new duties in the department and the heads of the departments in it were taken to take a number of recommendations to develop the department's work and raise the level of performance in it In a manner that guarantees the implementation of the duties and tasks assigned to it in the required manner during the period of the partial ban and to emphasize the central directives of the need to maintain the flow of completion of the transactions related to the formations of the ministry and external parties at the specified times without any delay, as well as to put forward proposals to overcome the current obstacles and difficulties in the interest of work and serve the work of the ministry and its formations all.www.industry.gov.iq/index.php?name=News&file=article&sid=5941
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While attending the sixth session of the Council of Ministers ... The Minister of Industry and Minerals discusses the latest developments of the current situation and a number of issues related to some of the state ministries The Minister of Industry and Minerals, Mr. Manhal Aziz Al-Khabbaz, attended the sixth session of the distinguished cabinet, held on Tuesday, the sixteenth of June. The media office of the ministry stated that the cabinet held its regular session headed by Prime Minister Mustafa Al-Kazemi and the attendance of the ministers to discuss the paragraphs and topics listed in the agenda of the session, noting that the council discussed developments in the current situation in the country and the mechanisms of work to reform all state institutions and enhance their capabilities and develop The level of performance in it in order to provide the best services to the citizen, pointing out that the session witnessed a review and discussion of the developments of the work of the Committee to strengthen government measures taken in the areas of prevention, health control and awareness in order to prevent the spread of the Corona epidemic and reduce the increase of injuries as well as taking appropriate decisions on a number of topics that Concerning the various ministries of the state. The media office confirmed that the Ministry of Industry and Minerals is proceeding with plans to activate the Iraqi industrial sector and make it supportive of the country's economy.www.industry.gov.iq/index.php?name=News&file=article&sid=5944 The Ministry of Industry and Minerals is discussing with the Border Ports Authority the mechanisms of work in the single trade exchange window The Ministry of Industry and Minerals discussed the mechanisms of work in the single trade exchange window, during a meeting held by the director general of the technical department in the ministry, Eng. Nasser Idris Al Madani, with the director of the one trade exchange window in the Border Ports Authority, Major General Mohamed Abbas and the accompanying delegation in the presence of a member of the Committee of Experts and Advisors in the Office of Minister Dr. Ali Ibrahim and the advanced staff in the technical department and the follow-up staff in the minister’s office. The meeting discussed the discussion of all matters and issues related to the work of the single trade exchange window, which is considered an intermediate platform between the government sector and the private sector, in which all ministries, including the Ministry of Finance, are represented by the General Authority of Customs, the General Authority for Taxes, and the ministries of transport, trade, health, etc., and aim to reduce time and achieve transparency in dealing between the merchant The government sector and the elimination of corruption, as was discussed during the meeting, the conditions and stages of the window’s work, which includes two internal stages, and includes the governmental sectors and the second are associated with the countries of the world that adopt the single trade exchange window and identify the main components of this window, which includes the system of registering the Minvest and assessing taxes, duties and customs exemptions Commodity control, customs tariff, permit system, customs case follow-up system, and auctions system. During the meeting, it was agreed to form a joint coordinating committee to achieve the desired goals and results from the commercial exchange process according to the single window. The Ministry of Industry and Minerals also affirmed the possibility of completing this project by the General Company for Electronic Systems affiliated with it in partnership with one of the companies specialized in this field and generalizing the experience to All companies of the Ministry in the future. www.industry.gov.iq/index.php?name=News&file=article&sid=5942 The Cabinet decided to facilitate the entry of containers belonging to the Korean Hanwha Company from the ports of Basra to complete a project in Samaya Residential.
The decision stipulated that all 2464 containers enter and exempt them from customs and tax fees in accordance with the terms and conditions established by the investment law. The Council also decided to form a committee headed by the Minister of Finance, the membership of the Minister of Planning, the Secretary-General of the Council of Ministers, the head of the National Investment Commission, and the advisor to the Prime Minister Dr. Salem Al-Chalabi, and the head of the legal department in the General Secretariat of the Council of Ministers, is responsible for developing radical solutions to complete the city of Bismayah and submitting the final recommendations to the Prime Minister, provided that the committee ends its work within three months starting from the date of issuing this decision corresponding to 20/5/2020 .cabinet.iq/ArticleShow.aspx?ID=9635 Yesterday, Tuesday, the Minister of Agriculture, Muhammad Karim al-Khafaji, announced amendments to Law No. 24 of 2013, which will provide jobs for 150,000 agricultural engineers and veterinarians.
Al-Khafaji said in a statement received by Sada Agency that “amendments are underway to Law (24) of 2013, and it was presented to the General Secretariat of the Council of Ministers as well as to the Committee on Agriculture, Water and Parliament Marshes, indicating that the law will be able to employ more than 150 thousand agricultural engineers and veterinarians. He explained that the amendments stipulate that the ownership of land will be 50 dunums of irrigated land and 150 dunums of land area and will be without allowance with the calculation of the full-time agricultural period as an actual service. He added, that the amendments related to the other law No. (35) for the year 1983, according to which the farmer will own an area of (5-10) dunums, and he has the right to establish an orchard or agricultural project, provided that the ownership will take place after 5 years have passed and the contract period will be changed from (10) To (25) years, and this amendment will include (200) thousand contractors. He pointed out that the future plans of the Ministry will depend on supporting inputs and outputs, through the purchase of agricultural crops such as wheat, barley, ferment and corn, as well as support for agricultural production requirements of fertilizers, seeds, veterinary vaccines and pesticides. He stressed that there are great efforts made by the farmer, especially during the Corona pandemic conditions, as he continues his agricultural work to provide agricultural products in the markets, and that the amount of support provided to farmers depends on the amount of financial allocations that the budget will include where the farmer must be encouraged to continue agricultural work.pressiraq.net/p=277528 We have often provided studies, research, and articles on alternatives to budget financing for economies that suffer from unilateral financing, so that one day this source will put us at risk of threatening those countries to economic collapse if they do not invest their resources properly, as is the case for the Iraqi economy that is dependent On a one-sided source of financing represented by oil revenues whose prices change from time to time according to global policy and the forces of supply and demand, just as the real danger is the alternative energy represented by investing wind movement, runoff of rivers, sunlight ........ etc. that will replace Oil, according to what is indicated by research centers specialized in economic affairs, whose impact is evident in the year (2030), and this threat requires serious and inevitable thinking. The optimal and available alternative to finance part of the budget in the coming years is to invest in the dry channel project to connect the Arab Gulf ports to Syria as well as Turkey and then Europe through Iraq, which occupies a strategic location in the world and which is - as a link between East and West - will make the dry channel project - If he has the right means of transportation from fast trains and giant trucks - the beginning of a change in the international transport map, as well as (thousands) of sea and land miles will be shortened and from (22) to (26) days. This is what Iraqi railways enjoy. Where the short distance from Umm Qasr port to the Turkish border (1000 km), which can be traveled safely and briefly at a low cost that ships and ships crossed to pass through the Suez Canal, or stop at the terminal ports before the goods are delivered to its real destination, and via this line will be transported Goods according to the new Iraqi project, which will transform Iraq into an important commercial center in the world after the Arab Gulf countries represented by the United Arab Emirates benefited from it via air transport, which is one of the most expensive means of transportation compared to other means of transportation. The House of Representatives, and in particular the Parliamentary Finance and Transport Committee, are invited to address the Iraqi government to supplement what the previous ministries have done with regard to the dry channel and to provide funds to build railways and trains or give them to solid companies in the field of investment in the event that there are no funds allocated for this aspect or the existence of a financial deficit, it is the alternative The optimum for oil imports if dry channel imports during one month reached more than (5000) tons through trucks that reached (210) regular trucks provided to Baghdad from Turkey, Syria and Basra ports. This is on the one hand, and on the other hand, the channel’s work was not limited to transporting goods Only, we are witnessing an increase in the number of travelers through it through trains, as the number of travelers for one month reached more than (4000) passengers. In this regard, we expect that this project will provide thousands of governmental and private job opportunities that will drive the economy and development of the country as well as a large financial return estimated (tens of millions of dollars) if the Suez Canal traffic costs and the costs of unloading and shipping from the Gulf ports will be canceled, as it is Umm Qasr Port will be transformed into a terminal that imports and exports incoming and outgoing goods for the Turkish ports and the Syrian ports of Latakia and Aqaba.economy-news.net/content.php?id=20738 It’s no secret that Iraq is one of the world’s leaders in producing oil that other large markets depend on.But while that may give the illusion of a strong economy, the private sector in the country is seriously lagging and needs investment to diversify for the betterment of its population. The truth is that while the country is in the top five in the world when it comes to crude oil production, oil prices have taken a huge hit in recent months due to the coronavirus situation and the country is facing a financial crisis as well. That’s because the country’s oil industry accounts for well over 90% of Iraq’s budget, says Mike Douglas, who is president and CEO of SKA International that supplies fuel globally. Also, only a small percentage of the population — about 1% — works in the oil industry. Currently, there are a lack of private employment opportunities and a lack of competition to stimulate the market. Previous attempts to stimulate the private sector have mostly been short-term strategies. And while there’s hope to transform the economy by 2030 with a newer, longer-term vision that aims to partner with the private sector, there are many obstacles in the way including security concerns. Transitioning Focus From Public SectorThe unemployment rate in Iraq has been trending downwards in the past decade, which looks good on the surface. However, consider that public sector employment has grown and along with it more strain on the government budget for payouts. While there has been some investment in the private sector and some help from the United Nations Industrial Development Organization (UNIDO) and others to help support development of a more diversified private sector in Iraq, growth has stagnated. In short, much of the country’s economy is tied to the state, while investment in private enterprise has been limited partly due to lack of partnerships with outside sources, says Mike Douglas. According to a 2019 report from Economic and Social Commission for Western Asia (ESCWA), “rigid labor regulations” (including hiring and firing) may be part of the problem faced by the private sector in Iraq. Not only does the organization encourage increasing competitiveness of Iraq’s exports, it also says that more investment is needed in infrastructure to allow greater productivity across the private sector. A Wealth Of Private Investment OpportunitiesAdoption of digital transformation by Iraq has opened up some diversification in economic growth, with digital public-private partnerships at the forefront of helping drive government job creation, particularly for young people that make up a large portion of the country’s population. Meanwhile, there are a number of investment opportunities in the country, says Mike Douglas of SKA International. They’re largely in the gas and oil sector, but extend beyond that — private investment can help boost the country’s healthcare delivery, as well as help it keep up with telecommunications demands as the number of people using mobile phones in the country surged to more than 36 million in 2018. Infrastructure remains another sector ripe for investment in the country. While the government has committed money to improvements, private investments are being sought for housing development. Government procurement practices have been a challenge to this kind of foreign investment in the past. A Long-Term Vision is in Motion, says Mike DouglasOne of the past barriers to private small and medium-business growth in the country has been due to lack of access to loans from traditional routes such as banks. However, a government plan called the “1 Trillion Dinars Initiative” has reportedly provided financing for many entrepreneurs over the past five years – particularly those initiatives that are deemed innovative. Meanwhile, the Iraqi government has already launched its wider Private Sector Development Strategy 2014-2030, which aims to strengthen the private sector by restructuring larger state-owned entities. The country’s 2030 plan is to support the growth of small and medium-sized businesses, establishing free trade agreements to stimulate investment, and partnering with the private sector to grow – all while moving away from dependence on oil. However, the current state of the country’s finances have been hit hard by dropping oil prices and COVID-19, which has put further strain on its limited healthcare capacity. The government introduced a private stimulus package in 2019 to address public pressure regarding unemployment and poor living standards, but it remains to be seen how effective these measures will be in the long-term says Mike Douglas.www.bmmagazine.co.uk/business/mike-douglas-on-private-sector-investment-in-iraq-a-solution-to-its-economic-problems/ Direct: The Iraqi Ministry of Electricity confirmed that the salaries of employees of late contracts are paid immediately upon obtaining cash. A ministry statement received by the Iraqi News Agency (INA) said today, Tuesday, that the Minister of Electricity, Majid Mahdi of the Emirate, met at the ministry’s headquarters a number of day-to-day contract employees and employees from employees of the ministry’s formations. The ministry added that the minister praised the contract employees and their commitment to voluntary work and perseverance, despite the difficult circumstances and the outbreak of the Corona pandemic, stressing that the ministry is not ready to sacrifice its employees and is keen to overcome obstacles to their performance and ensure the continuity of their work. The minister emphasized that redoubled efforts be made to include their salaries in the next budget, explaining that delayed payment of salaries will be provided as soon as cash is obtained, and the continuing ones depend on approving the general budget and not from the ministry’s authority. The statement pointed out that "the ministry is looking with the relevant authorities to expedite the inclusion of contracts within the operational budget and not investment to check on their future, as well as other efforts to be able to install them on permanent owners after obtaining the creation of vacant job grades within the movement of owners who come from the Cabinet and the Ministry of Finance." . The minister continued that the ministry received promises in this regard from the higher authorities as well as the formation of the ministry a higher committee to follow up on that. The delegation also listened to a detailed explanation provided by the director general of the administrative department on the volume of correspondence between the ministry and the relevant state departments to indicate that the ministry is proceeding with its procedures to address all the problems they suffer ".www.mubasher.info/news/3655031/-الكهرباء-العراقية-تكشف-موعد-صرف-الرواتب-المتأخرة-لموظفي-العقود/ Member of the Parliamentary Finance Committee, Jamal Ahmed, affirmed that the Kurdish negotiating committees are still continuing their work with Baghdad to resolve all disputes between the center and the region, pointing out that the government has several options to overcome the current crisis and solve outstanding problems. Ahmed said in a statement to the "information", that "the financial problems are still pending between Baghdad and Erbil , despite the visits made by the delegations of Kurdistan to Baghdad in order to solve all obstacles and overcome obstacles to overcome the crisis between the two parties." He added that "the negotiating committees are still practicing their work to end all outstanding problems between Baghdad and Erbil, and it is hoped that the differences will be resolved in the coming days after the visit of the region's delegation to the capital." And that "the government has several options to overcome the financial crisis that Iraq is going throughBy relying on a lot of non-oil revenue without compromising the salaries of employees and solving the outstanding problems between the center and the region. ” 25 n endedwww.almaalomah.com/2020/06/17/480211/ The economist, Ihssan Al-Kinani, stressed that the government will not need external borrowing to finance the budget, pointing out that the current days and their aftermath will witness an increase in oil prices and will compensate the losses incurred by Iraq due to the decline . Al-Kanani told Al-Maalouma that the government has a cash reserve in excess of $ 60 billion, and it is possible to borrow from it or invest it properly to compensate for the losses in the oil price drop and increase this reserve . He added, "The government no longer needs to borrow abroad in light of the high oil prices, as non-oil revenues and the correct investment in the border outlets are enough to solve the financial crisis ." And that "the coming days will witness an increase in oil prices with the recovery of the Gulf markets and Asian countries, with the decline of Corona in some countries, especially the industrial, and the return of normalcy after stopping for more than three months." The Nusef al-Hikma MP Ali al-Aboudi ended, on Tuesday, 25, Prime Minister Mustafa al-Kazemi al-Da'if because he was not moving to justice the health director of Dhi Qar as a result of the threat he received in his department. www.almaalomah.com/2020/06/17/480205/ The Housing Fund announced, on Wednesday, the direct acceptance of transactions electronically through a form prepared for this purpose, while the electronic payment of loans will soon be launched. "The fund, within its plans to implement the decisions of the Crisis Cell to counter the Corona virus, has begun accepting transactions electronically through a form prepared for this purpose, which allows citizens to apply for the loan without being instructed to review its departments," the Director General of the Fund, Dia Mojd Abdullah, said in a statement seen by him / the information. ” Abdullah added that "he also introduced the application for the electronic examination starting next Sunday, through an electronic window that he prepared for that." He cautioned that "the fund is about to launch electronic repayment of loans soon, as a contract was concluded with a company to allocate electronic outlets for payment and issue a card or symbol for each borrower." Ended / 25www.almaalomah.com/2020/06/17/480222/ Al-Rafidayn: The increase in the number of local departments preparing their salaries with the bank6/17/2020 Rafidain Bank announced, on Wednesday, an increase in the numbers of those whose salaries have been localized on our bank and receiving the Master Card. The media office of the bank said in a statement received / information /, a copy of it, that "many departments and state institutions have localized their salaries with the bank and their salaries have been received monthly by MasterCard instead of manual cash." The bank indicated that "those whose salaries have been localized are covered by all the financial services that the bank provides." Ended / 25 www.almaalomah.com/2020/06/17/480217/ The Minister of Finance, Ali Abdul Amir Alawi, announced positive discussions between the Emergency Cell for Financial Reform and the International Monetary Fund. Allawi said that "the IMF has indicated its willingness to provide support to Iraq and the Iraqi team will follow up with the fund discussions next week." www.alliraqnews.com/modules/news/article.php?storyid=93875 Parliamentary finance reveals the determination of the amounts of internal and external borrowing6/16/2020 ad_Ayen] The decision of the Parliamentary Finance Committee, Ahmed Al-Saffar, revealed on Monday that the government determined the size of external borrowing at five billion dollars, and the internal price of 15 trillion Iraqi dinars. Al-Saffar said, "The deputies did not have full knowledge of the local and external borrowing law, as well as deducting part of the salaries of employees and retirees, which caused the postponement of the vote on the law in the last session." He added that "the next session will see the completion of the voting on the borrowing law to pay the salaries of employees, the ration card and health matters." www.alliraqnews.com/modules/news/article.php?storyid=93936 Baghdad Iraq returns again to external borrowing, to satisfy its empty treasury, due to the consequences of the pandemic of our curse and the drop in oil prices, which negatively affected the revenues of the country whose budget depends on 92% of the revenues, according to specialists. And the Parliamentary Finance Committee announced today, Monday, that the Minister of Finance started negotiations with the International Monetary Fund to borrow $ 5 billion. Committee member Hanin Qaddo told the official agency that "the issue of internal and external borrowing will be presented to Parliament on certain conditions," noting that "the committee will present a paper of economic reforms to the government that includes not relying on one-rent." “The need for an internal loan amounting to 15 trillion dinars in order to cover salaries and operating expenses,” Al-Kiddo said, noting that “the Minister of Finance began negotiating with the International Monetary Fund to borrow $ 5 billion, and it is hoped that it will be allocated for the benefit of investment.” The economist, Nabil Al-Marsoumi, said that the only solution to tackle the financial crisis in Iraq is internal, not external borrowing, which is a system in place in most of the countries of the world. And the decree stated in an explanatory post that was shared with “Yas Iraq” that “some tremble with borrowing even though all annual budgets for Iraq since 2004 and even in explosive budgets, when the price of oil was more than $ 100 a barrel was dependent on internal and external borrowing to cover part of the deficit Budget. ” www.alliraqnews.com/modules/news/article.php?storyid=93988 conomy News _ Baghdad Seven well-informed sources said on Tuesday that the Iraqi Oil Marketing Company (SOMO) made deep cuts to Basra crude supplies destined for Asia in July, in light of the commitment of the producer to the OPEC + agreement to reduce supplies. The Iraqi supply cut comes after a similar reduction from the world's largest oil exporter Saudi Arabia. Both producers are members of the Organization of the Petroleum Exporting Countries, which agreed earlier this month with allies including Russia, within the framework of the OPEC + group, to extend unprecedented production cuts of 9.7 million barrels per day for a third month until the end of July. Iraq, already late for its goal, is taking measures to further reduce production and exports since June. As for July, Basra crude supply cuts to Asia between 30 and 100 percent of the contracted volumes, the sources said, adding that the degree of reduction varied from one buyer to another. A source said, “Some did not receive any provision.” The sources said that the discounts for two Indian buyers amounted to about 36 percent and 75 percent of the contracted monthly volumes. They added that the total volume of Basra crude supplies for the month of July is expected to decrease between 15 and 20 percent on average. The newly appointed Iraqi Oil Minister said on Monday that Iraq intended to export 2.8 million barrels per day of Basra crude from its southern ports in June. It was not yet possible to contact SOMO for comment outside of business hours. The reduction in crude supplies from OPEC countries + the prices of high-sulfur crude in the Middle East and Russia have pushed up in Asia, prompting buyers to try to save oil from other regions, traders say. economy-news.net/content.php?id=20734 conomy News _ Baghdad Finance department and banks The Parliamentary Finance Committee confirmed, Tuesday, that the federal government does not want to send the federal budget bill for the year 2020 to the House of Representatives. Committee member Sherwan Mirza said, "The federal government does not want to send the federal budget bill for the year 2020 to the House of Representatives due to the huge deficit that is in it. " Mirza added, "The House of Representatives has given a deadline for the government until the end of this month to send the budget to the House of Representatives and we are waiting for it to arrive in any Form was quarterly or monthly. " He explained, "The Financial Management Law states that the budget deficit should not be more than 3%, but the current budget deficit is more than 50% and this is illegal." He pointed out, "The House of Representatives asked the government to send the budget for discussion and approval." It is whatever the total deficit is, and then it will be modified by the House of Representatives. " economy-news.net/content.php?id=20739 Work controls for agents of electronic payment services providers Based on what was stated in Chapter Eight of the Electronic Payment Services System No. (3) for the year 2014, and based on the central and supervisory role of the Iraqi Central Bank for the financial and banking sector, below are the work regulations for agents of providers of electronic payment services. To download the e-payment service agents' working rules, click here cbi.iq/news/view/1502 Rafidain Bank announced, on Monday, that its branches in Baghdad and the governorates will continue to work directly in the official working hours to complete the tasks and banking tasks assigned to them. The bank’s media office said in a statement that it received “the information”, a copy of it, that “with the follow-up of the bank’s general manager, the bank’s branches will continue to work in order to complete the banking work in providing financial services to citizens.” The bank directed its branches to "not to carry out any gatherings that negatively affect the lives of customers and the occurrence of a smooth flow in the banking business while following the safety and health protection conditions of Virus Corona." Ended / 25 https://www.almaalomah.com/2020/06/15/479822/ Rafidain Bank, Tuesday, urged some government departments to activate the MasterCard cards and receive the salaries of their employees electronically, not manually. The bank's media office said in a statement that it received / information / a copy of it, that "the bank requires some department account managers to activate the mastercard cards for its employees that were received by the bank so that the salary can be paid through it electronically." The statement added, “The directors of the accounting departments of some departments must address the general administration of the bank and instruct to complete all procedures related to the activation of the Master Card, especially in light of the conditions the country is currently experiencing as a result of the Corona virus and the need to leave manual cash and deal with the electronic system for salary payment www.almaalomah.com/2020/06/16/480022/ |