Tishwash: Parliament discusses budget law with Finance Minister, Customs and Tax officials
Today, Sunday, the Parliamentary Finance Committee hosted: Minister of Finance Taif Sami, Chairman of the General Authority of Customs Hassan Al-Akeili, Chairman of the General Authority of Taxes Waad Al-Alawi, and Director of the Budget Department at the Ministry of Finance Wasan Saad.
The hosting witnessed a discussion of the Iraqi state’s general budget law, financing projects in the governorates, and enhancing non-oil financial revenues through customs and taxes link
Tishwash: “Autumn” economic recession in Iraq.. and a government advisor explains the reasons
A government advisor revealed that Iraq is going through a “seasonal economic recession.”
The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, told {Al-Furat News}: “The fluctuation of the dollar exchange rate in the parallel market has nothing to do with the phenomenon of seasonal recession that the markets are currently witnessing.”
He explained that “the recession in demand comes after the high peak of sales that preceded the current school season and the end of most major religious and social occasions, in addition to the entry of the fall season, which is the end of the summer season, that abundant season in agricultural production and marketing.”
Saleh explained, “In all cases, there is a recession in demand or a recession in seasonal economic activity, which is a phenomenon that occurs when economic activity declines during a certain period of the year as a result of seasonal factors.”
He continued, “This recession can occur in different sectors such as tourism, agriculture, or retail sales, and is often affected by natural factors such as weather, religious occasions and holidays, or changes in demand patterns from one season to another.”
Saleh believed that this recession “will take such a seasonal change, a few weeks until the entry of winter for economic activity to begin interacting in this short-term economic cycle.” link
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Tishwash: Postponement of the “Iraq Investment Forum” for this reason
The committee in charge of preparing and supervising the (Iraq Investment Forum) announced the postponement of the date of the forum, which was scheduled for November 2-3, to another date that will be determined later, due to the tense and unstable political and security conditions witnessed by the region at the regional and international levels, which negatively affects the holding of all local, Arab, regional and international economic activities and events. link
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Tishwash: Minister of Industry inaugurates Baghdad Industry and Mining Forum
Minister of Industry and Minerals Khaled Battal Al-Najm inaugurated the Baghdad International Forum for Industry and Mining, which is organized by the ministry under the patronage of the Prime Minister over two days under the slogan (Mining is Sustainable Development … and Safe Investment).
The minister stressed in a speech in which he opened the forum that the Ministry of Industry and Minerals is proceeding with confident steps and a firm determination to achieve the goals of the government program and its drawn vision, the most important axes of which are achieving a real partnership between the public and private sectors and opening the way for local and foreign partners to invest in strategic industries and other industries, noting that this forum will witness the presentation and announcement of (135) investment opportunities and projects for partnership with the ministry’s companies in the field of mining and various industrial fields.
He added: “We have started with tangible practical steps to activate the mining sector by conducting geological surveys of the country by specialized international companies and using the latest technologies.
He continued that achieving a real industrial renaissance in the country requires a set of success factors, the most important and first of which are energy, specifically gas and electricity.
He pointed out that the Ministry of Industry cannot achieve its set goals without everyone’s cooperation and understanding of the requirements for achieving those goals.
He explained that the Ministry of Industry and Minerals, according to its law and duties, takes into account the private industrial sector by facilitating the work of this sector and overcoming the obstacles facing industrialists in medium, small and even micro-enterprises. He explained
that a day or more has been allocated per month to work in the Iraqi Federation of Industries with the technical staff in the ministry to listen directly to the problems of industrialists and support the private industrial sector in a way that reflects on the economic and developmental reality of the country. He indicated that the current reality requires us to invest in developing our local industry in a way that keeps pace with technological transformations. And the global economy.
He stressed that Iraq has all the ingredients that qualify it to be a major player in the industrial sector, starting with human competencies and labor force and ending with the provision of natural resources.
He pointed out that our strategy and work plan are based on strengthening the industrial infrastructure in cooperation with other sectoral ministries, improving the investment environment and encouraging industries.
He pointed out to working to build strategic partnerships with solid international companies to transfer technology and localize knowledge in a way that enhances our ability to compete in local and regional markets.
The forum was attended by Minister of Labor and Social Affairs Ahmed Al-Asadi, a number of representatives, government officials, ambassadors, and a large gathering of businessmen, investors and representatives of local, Arab and foreign private sector companies.
The forum aims to establish real industrial partnerships between public companies and the private sector, as it will include various axes and activities, including holding dialogue sessions on industrial partnerships, privileges and legislation in creating an attractive environment and opportunities for investment, in addition to presentations of available investment opportunities and projects and introducing them from a technical point of view, as well as other paragraphs and activities. link
