Deputy PM calls for activation of foreign investment in Iraq

BAGHDAD / IraqiNews.com: Iraq ’s Deputy Prime Minister, Roz Nouri Shawes, has called on foreign businessmen and companies to activate investment in Iraq and to make use of the broad investment plan, pointing out to the successful investment in Iraqi Kurdistan Region, according to a statement by his office.   Shawes, in a speech at the 7 th International Islamic Conference, opened in the Kazakh capital on Wednesday, has called on businessmen, companies and investors to “activate the principle of joint interests and head for investment in Iraq , making use of the broad investment map in all fields.”   “We have found ourselves facing an evil terrorist offensive that had sucked out a lot of our resources and fortunes, after their imposition on us by the remnants of the former regime, al-Qaeda and other organizations that has sneaked inside our country from behind borders, disguised behind religiouns and Islam,” Shawas said in his speech.   He said that those circumstances “have caused huge material and human losses for our country and people, along with the financial corruption that we inherited from the former regime, exploiting the security, administrative and legal vacuum, caused by the absence of the State after the downfall of the former regime.”   The Iraqi Deputy Prime Minister also cited a number of strategic points, being part of Iraq ’s new economic trends, including the rehabilitation of the economy and freeing it from the one-sided profiting status, calling on diversification of sources of national income, through the encouragement of production and investment in the fields of agriculture, industry, services, tourism and others.   He also called for freeing the economy from the grip of the central State and heading towards non-central administration, through heading towards the market economy and economic freedom, as well as creating a real partnership between the public and private sectors.   The works of the 7 th Session of the International Islamic Economic Conference has opened its works on 7/6/2011 in the Kazakh capital of Istana, under the motto: “International Development, Competition and Cooperation,” organized by the Islamic Conference Organization, attended by leading businessmen from over 50 Islamic States.   SKH (FT)