I AM BACK AND SORRY FOR NOT BEING HERE FOR A WEEK, I HAVE BEEN WORKING ON A HUGE MERGER WITH MY COMPANY AND I AM BACK HER WITH ALL MY FRIENDS. I STILL STAND BEHIND WHAT I SAID IT MIGHT BE OFF A FEW DAYS BUT I STILL KNOW IT IS TRUE. PEOPLE READ THE LAST ARTICLE THAT I READ FROM DINAR TRADE LATEST NEWS. READ THE LAST PARAGRAPH EVEN THE GOVERMENT WANTS THE DINAR TO GO UP!!!!!
:cheer:
An Urgent Need to Reconsider the Economic Laws
Unadim Kana, deputy chairman of the Economic Committee of the House of Representatives unveiled the intention to hold intensive meetings with a number of academics, economists and businessmen in order to get acquainted with the real need for appropriate economic laws
The ongoing process of economic transformation in the country in order to draft laws formula developed and approved in Parliament.
We explained in an interview with the ((morning)) that there was an urgent need to review all the laws of an economic nature in effect, reconsider or modify to make them consistent with the process of transition from a totalitarian central economic system into a market economy.
He said in this context : that the priority in legislation headed to the issuance of the Investment Law No. 13 of 2006, which is a cover and an impregnable wall of the laws and provide other economic investment in all aspects of life except insurance companies, banks, oil and gas.
He attributed the non-activation of the investment and the reluctance of Arab and foreign investors to enter the arena of investments in Iraq to the consequences of the security situation. In that regard, affirmed the need for Iraq to 300 billion dollars over the next ten years for reconstruction according to statistics and studies prepared by the United Nations. Unadim Kana, and stressed the need to create the best investment environment and the activation of the private sector and the departure of total reliance on government spending, pointing out the importance of benefiting from the experiences of many countries in the the investment proved successful significantly.
With regard to the investment budget for 2007, described by observers Balanfjarih identified Vice Chairman of the Economic Committee in the House of Representatives three real obstacles to implementation ((the first parameters of the security and the second financial and administrative corruption that affects organs of the State and the third case of marginalization of the left and scientific expertise because of the obvious signs of partisan and sectarian received shadows on the political scene, governmental and ministerial)), calling in this direction to the adoption of professionalism and efficiency in the selection of technical and administrative positions in all organs of the State. Stressing the need for the return of competencies and minds abroad outside of the country because of such precursors. He called for completion of the routine, which he described Balmmelh and impeding the progress of the implementation of investment projects and to give wider powers of the ministries and departments concerned and not restrict them to the Council of Ministers with the emphasis on accountability and follow-up of negligence hand, and to honor the artists on the other.
With respect to the oil and gas, described this law Balmahm and influential in the economic process for the adoption of the entire budget on oil imports, or 95%, pointing to the existence of loopholes by saying excessive powers specific to the regions and the oil-producing provinces which raise the sensitivity of the other governorates non-oil producing anticipated action amendments anticipated some of the paragraphs of the law.
He referred in this regard to the need to use the expertise and competencies of the Iraqi workforce in the oil sector to take advantage of the views and observations of professional effort to pass a law to Aitakata with the national interest to make Iraq will be able to raise the productivity and efficiency of the extraction of oil and gas and we praised advocating monetary policy by the Central Bank of Iraq seeking to reducing inflation. He pointed out that this policy will bear fruit in future. He called for patience and understanding of the nature of this policy, which will be reflected positively on its own terms the Iraqi economy. Stressing that the economic committee in the House of Representatives working to support and encourage this policy, which seeks to restore the health and strength of the Iraqi dinar and the elimination of the dollarization phenomenon and to make the Iraqi dinar an actor in cash transactions that govern markets. He alluded to the existence of other economic laws are being talked about in the near future will be the way to legislation is the law of insurance companies, banks and the Banking Act and the Regulation of the private sector.
