Radio Baghdad

Listen To Live Radio
Now Playing
Jul, 27 2017
Popular Articles
iraqi-economic-development-strategies

Iraqi Economic Development Strategies


Part IAs Iraq moves through its next developmental phase...11278
the-chaldean-renaissance

THE CHALDEAN RENAISSANCE


Basic Outline of a Vision By Bishop Mar Sarhad Y. Jammo  I-...8502
iraqi-dentist-suhair-al-qaisi-the-most-beloved-media-face-in-the-arabic-speaking-world-screen

Iraqi Dentist Suhair al-Qaisi, The Most Beloved Media Face in the Arabic Speaking World Screen!


Introduction: Suhair al-Qaisi was born in 1985 in Baghdad, Iraq...8375
greek-company-wins-26-8m-hospital-deal

Greek Company Wins $26.8M Hospital Deal


Greek company TERNA has reportedly been awarded a $26.8m...5812
review-of-amer-hanna-fatuhi-the-untold-story-of-native-iraqis

Review of Amer Hanna-Fatuhi: THE UNTOLD STORY OF NATIVE IRAQIS


Review of Amer Hanna-Fatuhi:THE UNTOLD STORY OF NATIVE IRAQIS:...5631
why-worry-about-your-vitamin-d-level

Why Worry about Your Vitamin D Level?


For decades, vitamin D has been known to help our bones absorb...5539
the-iraqi-british-architect-zaha-hadid

The Iraqi-British Architect Zaha Hadid


“I am the product of an amazing Iraqi environment and an...5520
rxte-black-holes-pulsars-oh-my

RXTE - Black Holes & Pulsars - Oh My!


Black holes and pulsars are two of the most mysterious (and...5430
a-new-rare-guest-at-baghdad-zoo

A New Rare Guest At Baghdad Zoo


Baghdad’s municipality has announced the birth of what it says...5040
iraqi-parliament-denies-a-local-detroit-winner-christian-of-the-iraqi-national-flag-contest

Iraqi Parliament Denies a Local Detroit Winner (Christian) of the Iraqi National Flag Contest!


The Iraqi Government is working on adopting a new National Flag...4720
healthy-food

Healthy Food


Like any other product, healthy foods need to be marketed...4531
who-killed-soad-hosny

Who Killed Soad Hosny?


The family of the late Egyptian actress, the Cinderella of Arab...4438
train-to-basra

Train to Basra


An Amazing Journey in Iraqi-Middle Eastern Traditional MusicUR -...4239
iraqi-economic-development-strategies-part-ii

Iraqi Economic Development Strategies, Part II


DIVERSIFICATIONIraq is currently a rentier state. By...4104
oil-exports-decline-to-cause-deficit-in-2014-budget-says-sa-ad

Oil exports decline to cause deficit in 2014 budget, says Sa’ad


Baghdad (IraqiNews.com) Member of the parliament Oil &...3911
muhammad-ali-funeral-thousands-line-route-for-farewell

Muhammad Ali funeral: Thousands line route for farewell


Thousands have attended a farewell procession for boxing legend...3849
microsoft-brings-ocr-text-scanning-to-skydrive-images

Microsoft brings OCR text scanning to SkyDrive images


Microsoft’s cloud storage service now has the ability to extract...3660
1 1 1 1 1 1 1 1 1 1 Rating 5.00 (1 Vote)
Part I
As Iraq moves through its next developmental phase following a couple of democratic elections, its economy stands at a pivotal point in time. Its path is clear; it must move towards progress and development. In this endeavor,

it can look to previous examples of economic development across the globe. It can look to the development of the Chinese economy under Deng Xiaoping during the 1970s and the recent growth of Dubai. Iraq must create and carry out a multi-faceted plan for economic development at a time when the global economy is recovering and major shifts in global thinking are occurring. If a democratic Iraq is to progress in these times, its economy must progr

ess and prosper alongside other facets of the country's make-up. As such, the Al-Iraqiya Coalition has focused on the following elements of economic progress. Individually, each element will not be enough to push Iraq forward. Together, they will lead to Iraq's advancements and success.


Security, Safety, and Stability
These factors cannot be separated from one another and stand amongst the most important elements in Iraq's development. Until security, safety, and stability are attained in Iraq, political and economic development of the country will be at a standstill. A defense budget guaranteeing these elements is essential for growth. Iraqi military, security, and police forces must be fully competent and efficient in order to guarantee these factors in the new Iraq. Without this, foreign investment, international trade, tourism, construction, and other key factors for economic development will be stifled.     Iraqis and foreigners alike must be able to work and carry on day-to-day business without     fear of attack. Thus, security, safety, and stability in Iraq are a necessity.

Foreign Investment
Foreign investment stands as a historical indicator of third world economic     development. For example, prior to the 1970s, China had a poor and insignificant     economy as compared to the industrialized world. The reforms instituted by Deng     Xiaoping revolutionized China and have brought it to global preeminence. One statistic     alone is representative of this: its foreign direct investment stood at $19 billion roughly     20 years ago and grew to $300 billion in a period of ten years as a direct result of the     economic reforms instituted by Deng. The impact of foreign investment on Chinese economic growth cannot be ignored and stands as one of the primary triggers of its development.



Attracting foreign investors ranging from individuals to multinational corporations and     governments is vital. The inflow of capital to certain industries from foreign direct investment is an absolute necessity as most sectors are in their infancy. Investors shall be  allowed to

  • o create a wholly owned subsidiary or corporation
  • o purchase stocks of an existing entity
  • o gain control of an entity through a merger acquisition
  • o participate in  joint venture with other foreign or domestic investors.

The key to ensuring new and continued foreign investment in Iraq is government assurance that foreign investors' assets, facilities, and employees will be safe and secure. As in any industry, investors are looking for optimal returns on risk-averse investments. For this reason, incentives for foreign investors to come in on joint ventures with Iraqi businesses shall be offered. This will bring in necessary capital while strengthening and developing the structure and methods of Iraqi businesses. This will ultimately place Iraqi businesses in a competitive global market.

➢ Incentives
It will be prudent to provide incentives as a means of attracting such investors. Incentives can take many forms and the following methods tend to be the most salient

  • lower corporate and income tax rates
  • tax abatements
  • preferential tariffs
  • increased availability of loans
  • land subsidies
  • research and development funding
  • temporary regulation derogation for projects
  • free trade zones to tap into domestic, European, and Mediterranean regions
    • preferred by investors
    • would generate large economic centers in Iraq
    • optimal zones include
       • Nineveh Province
       • the port cities in the south
       • the major Iraqi cities
    • free trade zones should promote
       • construction, which would rely on attracting and utilizing foreign investment
       • Iraqi-foreign joint ventures as well as others
       • export-oriented products
       • market-driven economic activities.

➢ Banking
Drawing banking institutions such as the World Bank and the Export-Import Bank of the US to Iraq would boost foreign direct investment. Providing these institutions with safe-havens would allow them to finance both Iraqi and foreign development. Their importance to economic development cannot be understated. In addition, properly developing Iraqi financial institutions is a prerequisite for success. These are vital in creating economic development programs to provide financing for Iraqi and foreign parties alike.



➢ Diaspora Attraction
The foreign investment ministry must strive to attract Iraqi citizens currently residing in Detroit, Chicago, San Diego, London, Sweden, Australia, and other major Diaspora communities. These dual-citizens are often professionals or entrepreneurs in their new homes. Attracting them to reinvest in the new Iraq and partake in its economic development is key, as this demographic holds both knowledge of Iraq and its way of life as well as Western economic experience.


Prepared by
Masoud Sam Yono
Edited and typeset by Uruk Shendaj
 

 

Reviewed & Approved by
EA Strategic Research & Consulting

 

Add comment


Security code
Refresh

Amer Fatuhi - Interview June 2017 by Annie Salatyan
DoD Linguists' recruitment With Amer Fatuhi
اعتراف - Confession by Amer Fatuhi
شكرا - Thank You by Amer Fatuhi
دال - Dal by Amer Fatuhi
موهومه - Delusional by Amer Fatuhi
On President Donald Trump's order, two Navy destroyers in the eastern Mediterranean Sea fired salvos of Tomahawk [...]
The Yale University Art Gallery is celebrating the 175th anniversary of the field of Arabic studies at Yale [...]
دندنه - Dandana by Amer Fatuhi
UPDATE: On Tuesday night, Santana walked back his comments against Beyoncé in a Facebook post: "I would like to [...]
Iraq, in an area once home to some of the earliest civilisations, became a battleground for competing forces after the [...]
Russian President Vladimir Putin has described allegations his country holds compromising material on US [...]
It's Washington DC's favourite new parlour game - guessing who will fill the top posts in US President-elect Donald [...]
Donald Trump's "deeply unsettling and disturbing" views make him a danger internationally, the UN's human rights [...]
Hurricane Matthew has strengthened as it nears a "direct hit" with Florida, and is set to be the strongest storm in [...]
More Articles
russia-s-putin-calls-leaked-trump-memos-utter-nonsense

Russia's Putin calls leaked Trump memos 'utter nonsense'


Russian President Vladimir Putin has described allegations his...367
us-election-2016-results-meet-president-trump-s-possible-cabinet

US election 2016 results: Meet President Trump's possible cabinet


It's Washington DC's favourite new parlour game - guessing who...816
us-election-trump-presidency-dangerous-says-un-rights-chief

US election: Trump presidency 'dangerous', says UN rights chief


Donald Trump's "deeply unsettling and disturbing" views make...536
hurricane-matthew-strongest-storm-since-2004-nears-florida

Hurricane Matthew: Strongest storm since 2004 nears Florida


Hurricane Matthew has strengthened as it nears a "direct hit"...594
new-jersey-train-crash-many-injured-at-hoboken-station

New Jersey train crash: Many injured at Hoboken station


A commuter train has crashed into a rail station in the city...577
remembering-september-11th

Remembering September 11th


We Will Never Forget … We Will Never Forgive Please Tell...626
trump-pledges-big-us-military-expansion

Trump pledges big US military expansion


Donald Trump has said he will expand all areas of the US...628
happy-labor-day

HAPPY LABOR DAY


  THE WAR BETWEEN GOOD & EVIL IS NOT OVER YET! Do not...652
islam-karimov-turkey-announces-uzbek-leader-s-death

Islam Karimov: Turkey announces Uzbek leader's death


Uzbek President Islam Karimov, one of Asia's most...677
rio-olympics-2016-did-brazil-pass-or-fail-its-big-test

Rio Olympics 2016: Did Brazil pass or fail its big test?


Billed beforehand as the "Carnival Games" full of happy fans,...653
oil-price-gushers-as-opec-brings-bulls-back-into-market

Oil price gushers as OPEC brings bulls back into market


Oil prices surged dramatically in the last two weeks thanks to...679
trump-to-lay-out-plan-for-combating-radical-islamic-terrorism

Trump to lay out plan for combating radical Islamic terrorism


Donald Trump on Monday will lay out his strategy for defeating...644
putin-offers-turkey-s-erdogan-closer-ties

Putin offers Turkey's Erdogan closer ties


Russia is ready to restore economic co-operation and other...624
trump-is-chagrined-and-realizes-his-campaign-is-in-trouble-steve-forbes-says

Trump is ‘chagrined' and realizes his campaign is in trouble, Steve Forbes says


Donald Trump has an opportunity to get his campaign back on...1189
yusra-mardini-refugee-swimmer-off-to-flying-start-after-pope-francis-sends-letter

Yusra Mardini: Refugee swimmer off to flying start after Pope Francis sends letter


(CNN) Ahead of competing at the Olympic Games in Rio de...615
here-s-what-the-real-unemployment-rate-looks-like

Here's what the real unemployment rate looks like


The U.S. unemployment rate remained at 4.9 percent in July,...724
emirates-plane-crash-lands-at-dubai-airport

Emirates plane crash-lands at Dubai airport


An Emirates plane has crash-landed at Dubai International...740
a-clinton-bounce-a-trumpian-weekend-how-the-race-looks-now

A Clinton bounce, a Trumpian weekend: How the race looks now


Donald Trump just suffered through a brutal weekend. by Ben...798
the-moment-american-muslims-have-been-waiting-for-khizr-khan

The moment American Muslims have been waiting for, Khizr Khan


Donald Trump, the GOP presidential nominee, has proposed...688
obama-endorses-clinton-as-political-heir

Obama endorses Clinton as political heir


US President Barack Obama has delivered a stirring speech at...766
ansbach-explosion-bomber-pledged-allegiance-to-is

Ansbach explosion: Bomber pledged allegiance to IS


A video showing the Syrian man who blew himself up in Ansbach,...650
healing-wisdom-for-a-wounded-world

Healing Wisdom for a Wounded World


Healing Wisdom for a Wounded WorldMy Life-Changing Journey...619
dal

دال - Dal


دال - Dal by Amer Fatuhi Click Play > to...418
dod-linguists-recruitment

DoD Linguists' recruitment


DoD Linguists' recruitment With Amer Fatuhi Click Play >...153