The National Investment Commission holds the Iraqi- British Business and Investment Forum

The National Investment Commission holds the Iraqi- British Business and Investment Forum

Under the patronage of H-E Prime Minister Nuri Al Maliki

The National Investment Commission holds the Iraqi- British Business and Investment Forum

With the presence of the Prime Minister Nuri Al Maliki, the Iraqi- British Business and Investment Forum works began in Baghdad on Monday 18/11/2013 which was initiated with the Prime Minister speech, who stressed the importance of holding such forums, which is an extension of the first forum that was held in London in 2009 that witnessed the foundation of the Iraqi- British Business and Investment Council

Prime Minister stressed the Iraqi Government desire to take advantage of the expertise of the British Universities, British companies and Businessmen who attended the forum through their participation in implementing the available investment opportunities in all Iraqi sectors through the economic, constructional and developmental program Iraq is witnessing.

Al-Maliki expressed his gratitude and appreciation for the health initiative presented by the British side to prepare an integrated and developed health system that meet the needs and respond to developments in accordance with the scientific bases and the internationally adopted programs .

Explaining the interest in the process of reconstruction and investment comes at the forefront of the Iraqi government priorities after countering-terrorism.

 And Iraq while seeking to increase its revenues from oil and gas, it does not aspire to its economy to be unilateral but, to exploit these  revenues to develop other sectors for economic diversity that increase the construction, development and reconstruction  processes which require more concerted  efforts  with the British companies with experience and competence .

The NIC Chairman, Dr. Sami Al- Araji, in his speech, welcomed guests reviewing the economic relations between Iraq and the United Kingdom that began at April 2009 at first London conference , then he divided the   conference events to three sessions the first one dealt with available investment opportunities in power sector the second discussed the Health and Education sector while the last  one devoted to investment in infrastructure and housing .

From his part the Deputy Prime Minister ,Dr. Roze Nuri Shaways , reviewed number of economic  developments that have been made in Iraqi arena such as removing Iraq from Chapter VII of the UN Charter , approving the five-years development plan of Iraq (2013-2017), issuing  economic reform law and opening Baghdad International Fair in its new session stressing the urgent Iraqi economic need to diversify economic resources through diversifying the funding resources through encouraging local and foreign private sector to achieve the future visions in building an  economy consisting of the active partnership between the state and the private sector in development sides and creating new job opportunities instead of totally  depending on oil revenues .

Indicating that the amount allocated to investment spending in the five-years development plan (2013-2017)is (350) billion dollars and (54) billion dollars for the year 2014 ,expressing his optimism about Iraq’s future for its prominent position among the oil-exporting countries compared to  other countries.

in the other hand Iraq has competitive potential in other industries like Iron, phosphate ,silicate and many sites that contains limestone used in the cement industry, asking owners of capitals and companies to contribute to achieve these investment  plans.

From the British side, the Deputy head of Mission in Iraq, Mr. Mark Bryson- Richardson showed that the United Kingdom has three priorities for action in Iraq the first one to support the Iraqi efforts to establish positive relationship regionally and internationally, the second represented by reinforcing  security and stability and the last one deals with supporting and launching  the Iraqi capabilities for a better future.

The forum included a speech for Baroness Emma Nicholson chief executive of the Iraqi- British Business Council, and Mr. Hussein Zangana, the Chairman of the Federation of Industries after that the two sessions of the forum started to end by bilateral extensive meeting between Iraq and British side .