The broadest investment plan together with imposing the law
$ 11 billion to absorb the phenomenon of unemployment
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02 April 2007 (Iraq Directory)
Print article Send to friendCabinet allocated 11 billion dollars, the equivalent of 25% of the budget in 2007 to an unprecedented investment plan in Iraq. Economists consider this step synonymous with the plan of imposing the law which aims at achieving stability in Iraq, in a way that contributes to the comprehensive construction and economic progress that restores Iraq to the ranks of advanced countries.
Although reliable sources confirmed that the number of projects planned to be completed this year are 1200 project divided between large, medium and small, but the advisor of the Prime Minister for Economic Affairs, Abdullah Albandar, said that: this number may doubled several times on the figure mentioned in case the sides implementing those projects committed to the schedule of completing them.
Albandar said that: Prime Minister Nuri al-Maliki directed the ministries of Finance and Planning to take interest in the sectors of oil and electricity to ease the burdens on the Iraqi people, through the construction of oil refineries, power plants, sanitation as well and other infrastructure projects.
The Parliament is expected to discuss, during the next few days, the oil and gas law that would contribute to develop the oil sector through the entry of international investment companies in this area, which will help in developing the Iraqi economy.
Albandar added that Mr. Maliki has been making every effort to make 2007 a years of building and security, pointing out that he had decided to grant a period of six months to ministries and provinces for the implementation of 25% of the projects to be carried out, and in case this was not done, the amounts will be transferred to other provinces or ministries.
Adviser of the Prime Minister said that the investment plan for the current year will succeed to reduce the rate of unemployment which is now 40% in case the invested amount of $ 11 billion is used quickly, accurately and far from routine; it would increase the citizens’ incomes and open the door to new investments. The minister stressed the government's support for all projects that serve the public interest. Albandar hoped to find a firm investment ground and capacity for the implementation of the investment budget which the State has allocated to it 25% of the general budget, saying that the government is serious in establishing security which is a prerequisite for investment promotion.
On the other hand, the United States is preparing to deploy new ten teams in the field of reconstruction in Baghdad, Al-Anbar and Babil next week, according to the announcement by the American Ministry of Foreign Affairs. The American Secretary of State, Condoleezza Rice, praised yesterday the officials of those teams which will each consist of a diplomat, a military, an expert from the American Agency for International Assistance U.S.Aid and an interpreter. Rice said: there is nothing more important than our current efforts to help Iraqis to provide security for their people.
She added: but we know that security is not just a question of military police, but is also a question of economic development and governance. Those in charge of the reconstruction teams, who are all professional diplomats and volunteers, said they want to establish personal relationships with Iraqis in spite of the tragic security situation.
