TNT – “Tidbits From TNT” Thursday Morning 4-25-2024


Tishwash:  Al-Araji from Russia: Iraq still needs the support of the international community

Iraqi National Security Advisor, Qasim Al-Araji, confirmed on Thursday that his country still needs the support of the international community to achieve stability and sustainable development.

This came in a speech he delivered at the twelfth meeting of senior officials on security issues held in St. Petersburg, Russia 2024.

Al-Araji said in his speech, “Iraq’s message to the international community is a message of reassurance that our people have overcome the challenges of violence, terrorism, and sub-identities and are moving forward on the path of peace and sustainable development.”

He added, “We look forward to supporting the economic process and moving the wheel of development, education, and other aspects related to the future of Iraqis, by transforming crises into opportunities for success.”

Al-Araji pointed out that “Iraq still needs the support of the international community, to achieve the paths and requirements of managing diversity and pluralism and enhancing its national security in order to achieve sustainable stability and development.”  link

Tishwash:   Sudanese Advisor: $450 billion value of future investment projects in Iraq

The Prime Minister’s Advisor for Investment Affairs, Muhammad Al-Najjar, revealed on Wednesday the value of the investment projects that will be implemented in Iraq during the coming period.

Al-Najjar said in a televised statement, followed by “Al-Eqtisad News,” that “the economic growth that Iraq is currently witnessing is due to a number of reasons, the most important of which is the maintenance of stable oil prices, as this contributed to achieving financial abundance, in addition to the calm and political stability, which prompted the private sector.” To pump very large sums of money into strategic projects.”

He added, “The value of the investment projects that will be implemented in Iraq is estimated at 450 billion dollars, most of which are related to infrastructure and climate change,” noting that “Qatar, Saudi Arabia, and the United States are the most prominent investing countries during the coming period, as Iraq has signed several agreements with those countries.”

Al-Najjar continued, “Iraq, according to these data, will record the highest levels of economic growth in the world,” noting that “the government’s vision includes involving the private sector in achieving sustainable development through the implementation of various projects, especially in the areas of health and housing.”

He confirmed the existence of “a package of important changes that will occur in Iraqi commercial and economic laws, as these packages were presented by the Council of Ministers to auditing bodies to be later presented to the House of Representatives.” 

He revealed that “the Iraq Fund for Development is in the process of launching a project (rent and own), which means owning the property for its residents, and it is a project proposed for the first time in Iraq.”   link


Tishwash:  Iraq alone possesses 9% of the world’s reserves…a magical material to stimulate agriculture and the economy, awaiting investment

 Economic researcher Salah Al-Moussawi revealed today, Wednesday (April 24, 2024), that phosphate is a wealth that will not be depleted in Iraq for hundreds of years, while noting that it achieves a double benefit.

Al-Musawi is one of those who worked for years in the phosphate sector in western Iraq at the end of the seventies of the last century, and he is familiar with the numbers and studies that took place for years about this enormous natural wealth and how it can be invested in a way that leads to a qualitative shift in supporting the agricultural sector.

He said in an interview with “Baghdad Today” that  “fertilizer prices in global markets approached $1,200 per ton, but in Iraq it can be produced for only $200, and this difference gives farmers momentum to reduce production costs at significant rates,” stressing that “phosphate factories are capable of Producing at least one million and 200 thousand tons annually, but the numbers may double with the presence of new lines, and it could constitute a resource not only for the country but also for neighboring countries due to the difference in prices and quality.”

He pointed out that “the phosphate reserves in Iraq are sufficient to operate at current production levels for hundreds of years without being depleted, meaning that we are facing great wealth,” stressing that “the Sudanese government has actually begun to move towards investing Iraq’s capabilities in several areas away from the oil file because it is aware of the seriousness of the changes.” The importance of diversifying the economy, giving greater importance to agriculture, and ensuring its tools, including fertilizers, for survival and growth.”

Optimally investing in phosphate would achieve two main goals at the same time, which is providing fertilizer at prices equivalent to approximately 15% of the import cost, in addition to finding a new export resource away from oil.

Iraq ranks second in the world in phosphate reserves, as Iraq alone possesses 9% of the total global reserve, according to the Iraqi Geological Survey.  link