Text of the speech of the Prime Minister Nuri Kamal al-Maliki, which was delivered today in the Iraqi Economic Cooperation Conference – China
In the name of God the Merciful
Ladies and Gentlemen Ladies and Gentlemen .. Peace, mercy and blessings of Allah .. Allow me on behalf of the Government of the Republic of Iraq and on my own behalf to express my pleasure at being in the Chinese capital Beijing, which we wish had long ago,
China means a lot to us in terms of its place in the world and its future in the new international order is in the past, an ancient civilization and is today the country great contribute effectively to the growth of the global economy, which leads us strongly to strengthen common interests with him in order to build strategic relations with inter-dependencies in the various economic aspects, and we are pleased to express our admiration for the great the achievements of economic experience in China, which is increasingly important economic, political, in the present day to do the pivotal role and responsibilities at the international level, and by virtue of importance that the location and status of China in the global economy and the importance of Iraq as part of energy producing countries in the world and to achieve this cooperation comes our shared responsibility in the promotion of economic cooperation between the steps the two countries.
Ladies and Gentlemen: I saw the Iraqi economy, significant shifts on the road to openness and freedom, and the adoption of the forces of supply and demand mechanisms essential in the economic relations in the form which facilitates the process of integration in the system of international economic, and this is part of our philosophy the new economic, which contributed positively to the achievement of significant growth in several economic indicators, and notes estimates that the Iraqi economy will be among the fastest growing economies in the world during the next two years.
Has made Iraq the economic front a number of positive developments over the past eight years in a number of indicators, it has doubled in the GDP and multiplied with the per capita GDP, has also succeeded the Iraqi government in developing a policy efficient to adjust the Altdhm control government spending and the structure of government banks to cope with developments in the banking world, as well as Iraq has set policies stand-by arrangements with the IMF and Paris Club debt relief.
To hide the one that is characterized by Iraq of human and material resources we are counting on a lot in the development of Iraq, where there are many investment opportunities are distributed to different patterns of investment in different sectors, notably direct investment and investment partnerships with public companies owned by the state.
It is known that oil and gas sector is a promising sector in the economy of Iraq, where Iraq has oil reserves $ 142 billion barrels, and the precautions possible exceed the estimates proven reserves, as well as large reserves of natural gas of up to 126.7 trillion cubic feet, and we expect to contribute to investments in this sector to developing large in the field of oil industry in Iraq, through rounds of licensing contracts and the establishment of oil refineries and other industries related to oil and gas sector.
As well as in the electricity sector where the needs of this sector to major investments to double generating capacity to meet domestic demand through the creation of new generating stations throughout Iraq, with a generating capacity of Iraq in time Alhadharbhdod 7500 MW which is almost half the domestic demand for electric power, which demonstrates on the need for major investments in this area to meet the growing demand which is expected to arrive by 2015 to 20000 MW.
The housing sector is suffering from a lack of points where the five-year development plan 2010-2014 to the existence of a need to build two million housing units and infrastructure, the Iraqi government have been put forward through the National Investment Commission a national project to build one million housing units throughout Iraq.
In the transport sector Vtaatuar great opportunities to invest in the construction of roads, bridges, airports and ports, has been to introduce a port of Faw and build a modern network of railways, highways and rehabilitation of a number of airports, especially Baghdad, Mosul and Basra and the construction of an airport Euphrates East Investment.
At the level of the telecommunications sector, the Iraqi market is the fastest growing in the region in mobile communications, although many of the infrastructure in this sector is still in need of large investments, and available opportunities for investment projects in wireless communications and Internet services and landline phone (fiber-optic ) in addition to the license in the fourth cell phone network to be provided by the Ministry of Communications to improve the performance of mobile services in Iraq.
In the industrial sector who are counting him so much as a sector supporting the oil sector in Iraq, there are currently 76 overseas generally consists of more than 250 factories and a production line in various industries and the opportunity for rehabilitation and investment in new projects or through investment partnerships between the public and private sectors.
In the agriculture sector, Iraq is full agricultural potential huge qualify for food security, especially in grain products, strategy and vegetables, as if the investment of its territory techniques of agriculture and modern irrigation, where available agricultural land vast untapped look forward greatly to exploitation through international experience based technology modern.
In the tourism sector, Iraq has archaeological and religious tourism, recreational and planning during the next ten years to attract fifteen million foreign tourists.
Also available in Iraq, opportunities to invest in the sectors of education and health for the construction and rehabilitation of ten thousand primary and secondary schools and 1,200 health centers and more than thirty general hospital and specialist in addition to the rehabilitation of many colleges and universities, youth centers, sports and houses of culture as it kept pace with global developments in the curricula of education and health services, sports and youth and culture to achieve the desired development goals.
Dear friends: It was to the Investment Law (13) for the year 2006 average major role in attracting foreign investments to Iraq, including the wealth of benefits, guarantees and exemptions very encouraging for foreign investors, it is between the contents of this law of incentives is the exemption from taxes and fees for a period of ten years and up to fifteen years in the If the partnership with an Iraqi investor, as the law provides freedom of movement of capital and profits to and from Iraq and the right to hire foreign workers when needed, as well as ensure that no expropriation or nationalization of the investment project, and the National Authority for Investment and investment organizations in the provinces are running single-window, which we have adopted in order to reduce the routine loops.
We also Haina legislation to strengthen the confidence of the Iraqi economy by providing legal protection for foreign investment in Iraq through the guarantees provided for in the Investment Law itself in the material guarantees and arbitration, as well as through the safeguards mandated by Iraq’s accession to the Convention on the International Foundation to ensure investment in 2007, and finally through bilateral agreements to ensure the protection of investments.
Finally, we reiterate our quest to increase the economic and investment cooperation with China through the constant pursuit to activate and attract Chinese investment to work in the areas of production of value-added and to benefit from China’s experience in investment and management of the special economic zone to build the Iraqi model simulates the Chinese experience in this area, also call for companies and Chinese enterprises to expand its steps toward Iraq and take advantage of expectations of high growth of its economy and contribute to the reconstruction and the establishment of strong collaborations with him in the vital sectors of the economy of Iraq, notably energy, housing, industry, agriculture and infrastructure, as we draw our call to our friends in China to sign a bilateral agreement to ensure and protection of mutual investments in the first step to achieve the strategic partnership between our two friendly countries.
And Aasni only say that the gates of the Iraqi economy is open to our Chinese friends for reconstruction and investment in, and we hope you can see the presence in Iraq in the near future, and I thank you for listening.
May peace and God’s mercy and blessings
Nuri Kamal al-Maliki
Prime Minister of the Republic of Iraq