Thread: Iraq/Dinar News. 09/05 to 01/14/07

Hi,
I assume that the posting by PH on the previous page was the recording of todays happenings in the Iraqi parliament- I have read it twice and there appears to be no mention of the investment law, was that a recording of an earlier session with more to follow or did they not get round to it at all.

As previously mentioned if they all go on their summer hols today surely it wont happen until September at the earliest, did we all know they were going to the seaside with their buckets and spades before today.

We have heard over the last month that 2 or 3 banks were robbed of A LOT of dinar. Seems to me that if they R/v the dinar now, that stolen money would go to fund the very people that we are fighting to stop. They would have billions to buy more arms, etc. They might want to get a stronger foothold on Bagdad and cut off the ability to buy arms, etc. before they r/V. Just a thought.....Don't know if this is a consideration or not, but if it has occured to me it might have occured to them. They may just take this month to establish a safer environment before the r/v and FI law. If Bagdad is safer all will work together more quickly. If FI law passes and there is still bloody battles investors will be hesitant to invest. BUT if the climate is more stable more will be willing to invest. Any thoughts?

Originally Posted by neno

This is by far the best post for attitude yet. I trully am glad to of read it. This is what it is. Just a mater of when. When? When God is ready for it to be.Awsome.

Purchase more? Everything happens for a resaon. Reason? Hummmmmm.

The power of agreement is a wonderful thing! And yes, if it takes longer to revalue, that just means MORE opportunities to purchase MORE dinar, which means MORE......!!!!!!!!!!!:woohoo:

One of my favorite sayings is....."God's delays are not God's denials."

Monica

Originally Posted by readytogo

The power of agreement is a wonderful thing! And yes, if it takes longer to revalue, that just means MORE opportunities to purchase MORE dinar, which means MORE......!!!!!!!!!!!:woohoo:

One of my favorite sayings is....."God's delays are not God's denials."

Monica

Awsome put again. This delay has allowed me to secure my family even better for the future of the reval. And if it takes longer, then there is more time for more security too.

I understand members wanting it yesterday. I did too. But the window of Oppritunity is here again for others. So Please allow them to go thru it. As I have once again. It will happen when it happens. Out of all the postings and members debating them all as braking them down use it to your advantage of knowledge from this forum thread.

Neno, You are right more opportunities for more people. see my SIGNATUER again. MORE DINAR AVAILABLE LOL BOB

KRG PM Barzani announces new investment law

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http://www.iraqupdates.com/p_articles.php/article/9617
This morning in Hewler (Erbil), Kurdistan Regional Government (KRG) Prime Minister Nechirvan Barzani announced a new investment law for the region aimed at promoting international investment and economic activity in Iraqi Kurdistan. This law outlines favorable tax treatment and land and property ownership regulations and other measures aimed at facilitating foreign economic activity in Iraqi Kurdistan. The following is the speech made by PM Barzani this morning in the presence of a group of businessmen, foreign diplomats, and dignitaries.

KRG Prime Minister Nechirvan Barzani’s Speech on the Announcement of Kurdistan Investment Law

Sunday 30 July 2006, Erbil, Kurdistan- Iraq

Distinguished Guests
Ladies and Gentlemen
Good Day and Welcome
It gives me great pleasure today to announce the introduction of a new investment law in the Kurdistan Region. This is a notable accomplishment for the people of Kurdistan after many months of constant work. The KRG today announced with satisfaction that it is ready to implement the investment law for foreign and national investors.

Distinguished guests, this law was passed within the framework of the constitutional powers of the Kurdistan Region to support the government’s free market policy, promotion of the private sector and to welcome investors.

I would like to express our thanks to the Kurdistan National Assembly for their backing of the draft investment law submitted by the KRG. Our special thanks go to the Speaker and the Deputy Speaker of the Parliament for their effective role and support in passing the law.
Investment is a prerequisite for progress and continued economic growth. Foreign and national investment, hand in hand with the government efforts to regulate the working environment, is the guarantee for achieving a developed economy.

Dear Guests,
We know there is much that we in the government must do to revive our economy. But our economic growth will also depend, in large part, on the degree to which we are able to attract foreign investment to participate in the development of our economy.

Here I would like to assure our people that our purpose in passing such laws is to provide more and better quality services to our citizens and to provide employment opportunities to our citizens that will add to the development of our region.

We have not taken this step without full consideration and study. We have benefited from the experience of developed countries and we have examined models of those who have taken a similar stand and were able to provide the best services for their own people.

Distinguished guests,
Today the government is the main employer providing employment opportunities for people. The KRG will continue to play its role in the areas of rehabilitation of the infrastructure, providing social services, security, and stability.

But the most dynamic aspect of our economy must be driven by the private sector and investors. Information technology, oil, energy, manufacturing and tourism industries are all areas that the private sector can and must play an effective role.

Direct foreign investment plays an important role in the development of the economy in three ways:

Firstly, it creates jobs in the manufacturing and services sectors. For instance, when a foreign investor comes to the Kurdistan Region and implements a project, employment opportunities are created for our people.

Secondly, investment brings with it new techniques and methods and provides necessary services. We do not have all the capabilities and skills in the region yet and so we benefit from the experience and expertise of international companies. This provides an opportunity for learning and training for our national staff.

Thirdly, when foreign companies and investors come to the region they help us to learn modern methods and sound business practices in areas such as financial accounting and auditing systems, international banking systems, modern management techniques, and application of current information technologies.

Distinguished guests,
I believe that Kurdistan will come to serve as the gateway for the rest of Iraq. The Iraqi market is a large market and companies that enter this market can launch their enterprises from Kurdistan.

The investment environment in Kurdistan is conducive to international investment. The airports in Erbil and Sulaimaniyah continue to welcome visitors from around the world. The security and stability of the Region remain our main focus. Efforts are underway to provide a banking system that meets international standards.

During the past few months in Kurdistan and overseas, I have been asked by investors and business people from the Middle East, Asia, Europe, United States, and Canada, who all have an interest in coming to Kurdistan to invest, what laws were in place to regulate foreign investment.

Distinguished guests,
Today I am proud to announce that the investment law for the Kurdistan Region was passed by the Kurdistan National Assembly and approved by the President of the Kurdistan Region.
This investment law, first and foremost, is characterized by the principle of fairness and justice. It takes these two principles into consideration. We want investors to feel confident that they will be treated equally and within the framework of the law. Their rights and duties will be described and protected.

We, as the Kurdistan Regional Government, assure investors that their capital and projects will be protected in accordance with modern laws. Investors should not have any fears that the government or other business will seize or take their capital and projects.

The changes we are making in our legal system along with this new investment law will help to give all concerned the confidence that their investments and their rights will be well protected in accordance with the law.

In case of any disputes, should they arise, and we hope they will not, they will be dealt with in a civilized and equal way in front of the law.

We, as the KRG, will not stop here. We will continue to take other steps to encourage more investors to come to Kurdistan.

I would like to assert that the foreign investor will get the same support and cooperation that the national investor receives. We will work to make their tasks easier and to reduce the bueracrcy and red tape.

For this purpose, the Investment Board of the Kurdistan Region has been established to be the main focal point to deal with this important subject and to provide the necessary cooperation and facilitation.

We are working to make the company registration processes easier in order to attract more companies to the Kurdistan Region. We know that until now investors and companies have faced mountains of paperwork and meetings and sessions with government officials to get approval to establish their offices. We have tried to simplify this process.

We also want to assure our citizens that there is an element of transparency in the law so that all citizens can know what foreign and local investors are doing in the Kurdistan Region and what kind of benefits such projects bring to our people and our region.

Apart from the points mentioned earlier the new law allows for full ownership and repatriation of profits. This will make work much easier for the investors. At the same time we will watch carefully that these projects and investments will abide by the law and will have direct benefits for the Kurdistan Region.

Distingueshed Guests,
We, as the government, will be partners and supporters for the economic development of the Region and the government will not be a barrier to these works.

The KRG welcomes investment in the Kurdistan Region. It supports joint venture projects with investors, the private sector and government. We will work to create the proper environment for investors.

We have faced oppression and suffering in the past but our people remained firm. Today I have full confidence in our people that they support us in our efforts. We are at the forefront of a new experience in applying free market economic law.

We see it as our duty as the government to provide the legal framework for work and to create conducive environments so that investors can carry out their work freely and for our people to live in prosperity and well being.

Dear Distinguished Guests,
I am pleased to announce that Mr. Herish Muharram Mohammad Amin will take office as the chairman of the Investment Board in the Region with ministerial rank.
Here on behalf of my dear brother, Omer Fatah, and myself, I warmly congratulate him and wish him success in his mission. Mr. Herish is a graduate of the College of Engineering, Department of Electricity.

He has worked in different fields. For many years he was program director at SCF and later he headed the planning department at Habitat. He also served as chairman of the reconstruction projects board. His last post was chairman of the electricity board in Sulaimaniyah. He has participated in many training courses both inside and outside the country. He has gained good experience.

We wish him success in his work and want to assure him that he will be given the full support of the KRG.

Again, thank you for attending.

parliament takes a one month vacation? In view of all that is going on in Iraq it seems like one hell of a weird time for a 30 day siesta. I get one day a week and my backyard is not being bombed. Oh well, maybe the terrorists and murderers will take a little break too, eh?

The inevitable is upon us now with this news, and yes, it affects Iraq as well as the world....

http://news.yahoo.com/s/nm/20060730/...ran_revenge_dc

I Broke down your post to statement by statement. Make it easier to read. Great post. We have been waiting on it all day.

Originally Posted by Jetsa1

The inevitable is upon us now with this news, and yes, it affects Iraq as well as the world....

http://news.yahoo.com/s/nm/20060730/...ran_revenge_dc

This one isn't good at all. Get thru with one get the Investment Law passed and now this. Maybe some one can enlight on this.