Archive - Latest News Think Tank - 15/01/09 - 04/05/09

Parliament: The Finance Committee of the House of Representatives called for the reduction of the budget

A member of the Finance Committee in the House of Representatives Atrushi Sami demands to reduce the budget submitted by the Finance Committee of the Ad Hoc meeting, Tuesday, to discuss the budget between the House of Representatives committees and officials at the Ministry of Finance and the Office of Financial Supervision, indicating that the claimant received the support of some Representatives.

The Atrushi Agency (Voices of Iraq) said that "Today's meeting focused on a range of proposals submitted by the Finance Committee and the economic presence of the President of the Office of Financial Supervision Abdel Basset Turki, the Finance Committee has made a request to reduce the budget of some ministries including the Ministry of National Security and the Ministry of State for National Security" .

He pointed out that "The Department of Homeland Security has called for the construction of the headquarters of the value of ten billion dollars and we asked to cancel the request, and the Ministry of State for National Security with more than 1200 staff, including the ministries of the State and this is not true and we are asked to reduce its budget for this year."

"If these amounts will be reduced to reduce the budget deficit, so writing these proposals, which enjoyed the support of some MPs to the House of Representatives, pending a response in the future meetings for him to vote."

The meeting was to discuss the 2009 budget held today was attended by advisers from the Ministry of Finance and a number of officials in the Office of Financial Supervision and the members of the committees of the House of Representatives.

The federal budget for Iraq for 2009 has not been approved so far, amounting to 62 billion dollars, was calculated on the basis of $ 50 per barrel price of oil.

The fiscal balance returned to the Council of Ministers (15/1/2009) to the demands of the presidency and the Ministry of Finance to increase the budget because it is not the prerogative of the House of Representatives to increase the budget.

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President Talabani officially invites President Lee to visit Iraq

Iraqi government spokesman Ali al-Dabbagh in a press release, which PUKmedia got a copy, said that during official talks between the Iraqi President Jalal Talabani and his South Korean counterpart Lee Myung-Bak will uphold bilateral relations between both countries in all aspects particularly in aspects of energy, industry, commerce, and rebuilding Iraq.

“President Talabani in Seoul, officially invited President Lee to visit Iraq,” the statement said.

The statement also indicated that President Talabani expressed Iraq’s readiness to welcome South Korea’s leading business groups on ways to strengthen economic cooperation.

” Lee Myung-Bak expressed his readiness to visit Iraq, where previously he worked as president of Hyundai company in Iraq. South Korea would lift bans on its businessmen to visit Iraq due to improving security conditions in Iraq.” Dabbagh added.

During his four-day stay, President Jalal Talabani will visit the plants of SK Energy, Hyundai Heavy Industries and POSCO's southeastern industrial complex, koreatimes website reported on Tuesday.

http://pukmedia.com/english/index.ph...=9503&Itemid=1

Al Maliki calls to promote economic relations with Tokyo

Prime Minister Nuri Al Maliki called on Japanese oil companies to accelerate investments in Iraq. In a meeting with a delegation of Japanese companies’ alliance group in the presence of Japanese Ambassador to Baghdad Shoji Ogawa, Al Maliki stressed on the government’s keenness to promote bilateral relations with Tokyo mainly on the economic level.

For his part, the delegation conveyed Japanese companies’ willingness to operate in the country and carry out projects in Dhi Qar province in aim to increase crude oil production and contribute to increasing electricity production.

http://www.alsumaria.tv/en/Economics...ith-Tokyo.html

Iraq and Syria to step up the implementation of two energy projects

Iraqi Ambassador to Syria Ala’ Al Jawadi said that Baghdad is determined to speed up working on two energy projects with Damascus with a cost of billions of dollars. These two projects are expected to help to end the tension between the two countries. The Ambassador stressed that the officials in both countries are willing to boost bilateral relations in sundry fields.

http://www.alsumaria.tv/en/Economics...-projects.html

Iraq needs over $400 billion investments- VP

Iraqi Vice President Adel Abdelmahdi said that Iraq has become a strong magnet for investors, adding that it needs more than $400 billion worth of investments.

The remark was made during his meeting with a delegation comprised of representatives of Japanese companies and the Japanese ambassador to Baghdad, Shoji Ogawa, according to a presidential statement received by Aswat al-Iraq news agency.

"Japanese oil companies have presented significant projects to Iraq, including the establishment of an oil refinery with a capacity of 300,000 barrels a day...," according to the statement.

Japanese firms are willing to work in Iraq in the fields of crude oil production and electricity, it added.

http://www.zawya.com/Story.cfm/sidZA...%20Investments

the central bank is celebrating the completion of the draft

The presence of Dr. Bank Governor Sinan al-Shabibi, maintains the Central Bank of Iraq on Saturday to mark the occasion of the accomplishment of a network of banks, according to a statement issued by the Department of Information and Public Relations in the bank that this project is the first of its kind in the government sector on the one hand the use of modern techniques and its importance will be the amount of central bank Iraq on the day of the celebration day on Saturday 28/2/2009 at ten in the morning at the Mansour Melia Hotel on the Cordoba.

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between the nationality of the investor and the foreign capital .. readings in the investment law

Dr. Abdul Rasul Abd al-Rida in the Faculty of Law at the University of Babylon in the reading on the Iraqi investment law No. 13 of 2006 between the nationality of the investor capital and foreign investors that the purpose of investment is to provide ample room for the flow of capital around the state from within and outside the center of gravity is therefore investing in the head of the investor and the investor is not in the person and then by type of investment depends on the nature of national and foreign capital investment of the investor takes the national capital while the national character of foreign capital from the type of foreign investment.

He adds: The return, weakens the role of the nationality of the investor in determining the type of investment, it is an inactive component in exchange for capital, which is an active element such as the foreign investor with capital adequacy of self-discrimination of foreign investment on domestic investment and then determine the rights, privileges and guarantees, regardless of their respective of the nationality of the investor, because the adoption of this rule to ensure a high flow of foreign capital, while it violates the State through the adoption of the nationality of the investor rather than a source of added capital and reduce the flow of foreign capital for investment.

Attribute, Dr. Abdul Rasul Abdul Ridha, however, that the citizenship will become a barrier to national funding for capital funds for the purpose of investing in their own as long as he will know in advance that he would be in the equal status of the investor does not live up to the national level of the foreign investor in terms of privileges and guarantees, including the agreement to allow the law to be applied the competent court and in investment disputes.

He continues, saying: show reading Investment Law No. 13 of 2006 that adopted the criterion of the nationality of the investor to distinguish the national investment on foreign investment instead of adopting the standard source of capital, although some provisions of the Act take into account the nationality of the investor, Article (10) of the Act and in this regard several questions were raised equally on whether the investor in the national funds abroad and inside Iraq, with the investor funds for the national pre-existing in the home or live up to the level of the foreign investor? Was the Iraqi project successful in the law in this matter? If the project is working in Iraq counts the investor the same treatment as treatment is delivered by the foreign investor, if the income for the purposes of participation in an investment with an Iraqi investor Does investment capacity is treated as foreign or national investment?

These and other questions referred to the reply of Dr. Abdul Rasul Abdul satisfaction by studying the research to the Investment Law No. (13) of 2006 between the nationality of the investor's view of money and foreign investor.

Nodal guarantees to invest in the knowledge of the Iraqi investment law No. (13) for the year 2006.

Dr. Naseer Sebbar Jubouri in the Faculty of Law at the University of Al Nodal, however, about the guarantees for the investment of knowledge in the investment law No. 13 of 2006 We live in an era of knowledge economy, which depends mainly on the investment knowledge effectively in a time when the Iraqi project aims to promote investment and transfer modern technologies to contribute in the development process of Iraq and the development and expansion of its service and productivity, diversification and protection of the rights and property investors, as confirmed by Article II (paragraph 4.1) of the Iraqi investment law No. 13 of 2006 as well as to strengthen confidence in the investment environment and to identify investment opportunities and stimulate investment in and promotion, as in the first paragraph Article IX of this Act.

He added: in return for the investor's commitment to training its employees in Iraq and the rehabilitation and increase their efficiency and raise their skills and abilities and be the initial recruitment and employment of Iraqi workers as in the eighth paragraph of Article XIV of the Act in order to advance the process of economic development, development and design to increase energy investment projects in Iraq, " the merits of the investment law. The Dr. Jibouri the importance of the subject is reflected in the need to ensure that the rights of investors as the knowledge that getting Alaptaqalev it may be too dogmatic in the circulation of knowledge.

However, if the nodal guarantees to invest in the knowledge of the roles played by the contracts for the sale and licensing information, employment and entrepreneurship and technology transfer to Atovr security for the investor, it could resort to other non-nodal guarantees to provide the necessary protection and adequate compensation for the investor knowledge and achieve the purpose of expediting the resolution of the conflict and facilitate the methods of proof immune to the elements of nodal responsibility.

He continues: Therefore, it is to achieve benefits at the expense of a person without the right will be obliged to compensate the person who has been achieved at the expense of the benefits, however, those who have achieved these benefits justify the legal and the law in spite of giving the right of persons in the exercise of various the work they wish to do but to Aisog to say that there are no legal limits determined from the actions of these persons should be the exercise of such activities, according to the law of obligations not to attack the rights of others.

He added: If it is more of a question might be raised relates to the potential application of the provisions developed the idea of investment knowledge, leading to the provision of appropriate security, is an investor in this case, when the rights are abused by others and build on the theory of loss for no reason in the provision of security of investment and knowledge that, if he follows the person means to engage in legitimate activities, and follow the methods of the illicit access to the wants, the question related to the role of the idea of unfair competition in the provision of security to invest in knowledge.

Turning in his study, Dr. Jubouri research to answer all these questions during the first topic that was devoted to the role of theory, without loss of investment to ensure that the cause of knowledge addressing the second research project, the idea of competition in the guarantee.

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the task of economic agreements will be concluded between the parties

Iraqi ambassador in Syria, Baghdad, Alaa Gawwadi the determination of the conclusion of economic agreements with Syria, including the reinstatement of the draft tube, which carries oil from Kirkuk to the port of Banias And the development of a huge gas field near the Iraqi-Syrian border.

Gawwadi said in a statement, told Reuters that senior officials in Baghdad told him that the intention is to overcome the obstacles to the completion of the projects, expected to see rapid progress in progress.

The Ambassador Alaa Gawwadi on the existence of a deep desire among officials in both countries to develop bilateral relations in various fields.

Is noteworthy that the Ala Gawwadi who handed his credentials to Syrian President Bashar al-Assad a few days ago was the first Iraqi ambassador to Damascus for almost 30 years.

http://74.125.91.132/translate_c?hl=...DXmcb4jMLceZVw

the balance needs to be a long time for confirming

A number of House members said the budget needs to be a long time for discussion and approval.

He said some members of parliament, told Radio Dijla that the current year budget does not meet the needs of the Iraqi people.

http://74.125.93.132/translate_c?hl=...nGMM1VLolczwRw


the Finance Committee recognizes its final report to Ministers of Finance and Planning

Handed over the Finance Committee in the House of Representatives its final report to Ministers of Finance and Planning of Representatives after the objection of many paragraphs in the budget.

The MP from the Iraqi National List, a high Nassif told a news briefing on Monday that the Finance Committee after the audit and audit submitted its final report to the Ministers of Finance and Planning for the purpose of the amendments, or to inquire about some of the paragraphs.

The Nasseef expected to end the two ministers to respond to the report on Wednesday or Thursday, indicating that it is possible to pass the budget end of the week.

Nasseef blamed for obstructing the government budget, noting that the budget would delay the work of ministries.

http://74.125.93.132/translate_c?hl=...PkB_aTSH0BNdzA

the need to speed up the ratification of the oil and gas

The Oil Minister Hussain al-Shahristani, the House of Representatives to the need to speed up the approval of oil and gas law and the laws relating to the oil sector for the development of this facility is vital to serve the people as well as increased imports and the government.

Shahristani said in a statement to Radio Tigris that the first licensing round will be decided soon.

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