The return of cautious international companies to Iraq after the liberation of Al-Anbar and receiving international loan



International companies return to work in Iraq and seeking to implement two hotels in Najaf


Author: HAA
Editor: BK 08/16/2016 17:50 Number ofViews: 101


Long-Presse / Baghdad

Internationally renowned American newspaper, confirmed on Tuesday that the world’s largest investment companies have begun to return “cautious” for Iraq and agreeing with him again on the implementation of projects worth billions of dollars, attributed to the successive victories of the Iraqi security forces (Daash), especially in Anbar, and the state ” relative stability “taking place, as well as receiving a loan from the international Monetary Fund to strengthen its economy.

The Wall Street Journal The Wall American Street Journal, in a report today, followed (the long-Presse), said that “some international companies have begun to return to invest in Iraq, but cautiously encouraged by the status achieved relative stability after the expulsion of militants Daash from Anbar, Fallujah, and for Iraq financial base of the IMF and World Bank to improve the economic situation. “

According to the Wall Street Journal, that “stringent protests, which came out against corruption earlier this year, in 2016, contributed to the return some stability to the parliament, with the features of recovery in a fragile economy, which weakened by the sharp decline in oil prices.”

The paper quoted, the financial advisor to the President of the Iraqi government, the appearance of Mohammed Saleh, as saying, “The major investment companies returned interesting Iraq again since managed to Iraqi forces from defeat al Daash and reduce its presence in the country, expelled from Fallujah and Ramadi,” she returned to “change everything after the liberation of Fallujah and Ramadi. “

She said the Wall Street Journal, that “General Electric US company General Electric, which has been working in Iraq for years, occurred during January, contracts worth billion dollars to develop the infrastructure of the system of the Iraqi electrical power, in the largest deal to do with Iraq since 2008,” indicating that “the company continues to see economic growth opportunities going on in Iraq.”

The newspaper pointed out, that “the International Finance Corporation (IFC) of the World Bank, concluded in April 2016, a deal worth $ 375 million for Iraqi power generation company with the support of Lebanon’s Bank Audi to invest, in the first investment opportunity for major bank in Iraq.”

He said IFC Director for the Middle East and North Africa, a supporter Makhlouf, according to the Wall Street Journal, said that “the deal a sign of support for the growing IFC for Iraq during the 12-month limit in June 2016, which was accompanied by an increase of investor interest in the region towards Iraq.”

And saw the newspaper, that “other indicators that some companies began to haggle over the growing tourism sector in Iraq, which could benefit from it, including the Wyndham Hotel Group, the US company for tourist hotels, which announced plans to open two new hotels of its hotels chain in the holy city of Najaf destination millions of visitors to perform religious ceremonies visits, by the year 2018 “.

And get away with Wall Street, the head of the company and Wyndham, as saying that “Iraq is witnessing a new and accelerated investment opportunities look forward to benefiting and complete the hotels that will take time until it opened to add to the list of hotels and regions included in the manuals Travel Guide.”

The newspaper “optimistic” investment on employment opportunities in Iraq Companies, to the “approval of the International Monetary Fund, through July 2016, to lend to Iraq five billion and 300 million dollars to support the economy affected by the fall in oil prices, and bridging the deficit of the budget”, usually attributed to this “helps to recover investors’ confidence in Iraq.”

On the other hand, he said he expected the World Bank to increase oil production rates with economic reforms and an end to the threat of Daash in the country, the economy growth rate in the country will increase by 7%.

Meanwhile, the head of the expected investment trends in the United Nations Information, Street Solstrarova, according to Wall Street, that “the direct investment of foreign companies rate in Iraq, particularly oil, a 20 percent increase over the current general in 2016, or the equivalent of four billion dollars.” .

The paper disclosed, according to Iraqi officials, about “do both Exxon Mobil and American Petrojayna Chinese, to discuss with Iraq for the resumption of investment in oil fields south of the country and help enhance their production rates.”

The Finance Minister, Hoshyar Zebari, announced in (19 May 2016), to reach an agreement with the World Bank Fund for a loan worth $ 5.4 billion, while the loan will allow securing additional financial assistance to reach about $ 15 billion over three years next, Governor of the Central Bank of Iraq, on the Keywords confirmed that the annual interest of the loan up to 1.5 percent.

It was the financial advisor to the prime minister, Mehr Muhammad Saleh, revealed in (27 May 2016), for Iraq, for “financial umbrella” international convergence of twenty billion dollars, as a result of its agreement with the International Monetary Fund.


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