Iraq has potential to be influential player in global economy, says Iraqi Deputy Prime Minister

Posted: October 11, 2013 in Iraqi Dinar/Politics
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Shaways: The Potential Of Iraq Make It Effective In The Global Economy
On October 8, 2013

Brussels: News Network Iraq – Deputy Prime Minister Ruz Nuri Shaways that Iraq has the potential to make it an influential player in the machine civilization, and the global economy.

Said Shaways in a speech at the Conference on investment in Iraq, held in the capital of Belgium Brussels, that the great potential that enjoyed by Iraq made him enjoy the riches of enormous owning confounded, because the third-largest oil reserves in the world, and ranks tenth in proven reserves of natural gas, which makes it an influential player in the cycle of the machine civilization and a key player in the global economy, and a strong contender at the regional level. As well as potential high level of oil extraction and production and competitive prices to the low cost of oil production and extraction in Iraq, compared with other countries.

Stressed Shaways in his speech that the federal government is seeking to change the identity of the Iraqi economy to shift from an economy yield to the economy of production, through the vision of the future long-term aims to build a prosperous and diversified economy began growing interest in the education and health sectors, led by the sectors of mining, industry, energy, agriculture, tourism and telecommunications development Koqtab essential.

Besides attention to the basic pillar of the Iraqi economy, but a sector of the oil industry in its various aspects, stressing that the government is working to move from a centrally planned economy to a market economy through the mobilization of the private sector’s role, and the trend towards creating a genuine partnership between the public and private sectors. And encourage investment national, regional and international, to make the Iraqi economy more vibrant, dynamic and able to respond to the requirements of the launch of the process of comprehensive and sustainable development.

Reviewed Shaways ČÓ recent developments in Iraq, Kakhrajh from the provisions of Chapter VII, and the endorsement of the Council of Ministers in August last year, the Law on economic reform, federal, and lifted to parliament for approval. To the law to restructure the economy according to the principles of economy and modern requirements of the transition to a market economy, as well as its review of the plan of the Second National Development in Iraq (2013 – 2017), stressing that the plan represents a new stage in the process of development planning is an important link in the system path strategic for economic advancement and community, and calls for an investment of nearly 357 billion dollars in development projects for the years to the next four, concentrated particularly in the sectors of industry, energy, housing and construction, services and agriculture (in both its plant and animal), water resources, education, transport and communications.

seal Shaways definitely on the urgent need to introduce technology modern in all aspects of the state and society, and to the services and expertise of discreet international companies in various fields and sectors of life, as well as the need to prepare and train professional and hands working and capacity building and informed on the latest scientific and technical innovations.


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