Zain Group Telecommunications invest 20 Million in Iraq Stock Market

Zain telecommunication company founded in Kuwait as MTC (Mobile Telecommunications Company) and rebranded to Zain in 2007.

Zain cover 7 country in the Middle East  with more than 41.5 million customers .

Zain entered the Stock Market  as  deal of 1.25 Billions dollar contract to provide the company telecommunication service in Iraq .

In 2003 Iraq has no mobile coverage at that time then after the war the telecommunication sector in Iraq Boomed and now is one of the best industries investment in Iraq .

1200 companies participates in Baghdad International Fair this year

Ministry of Trade pledged to organize the Fair quite different than the previous years

The presence s around 1200 foreign companies and local according to the general manager of the exhibitions and trade service of Iraq .

The expiations this year will include all industries electrical, food, medical , agricultural, construction and many other industries that Iraq  need to invest in building  the infrastructure of the country.

Iraq will organize a conference before the fair  to encourage all the countries to participate in Baghdad International Fair .

Baghdad International Fair  is started since 1973 and this year will be totally different because  Iraq has become a great investment opportunity for international companies especially in time when many countries suffer from financial crises and economic recession .

Red Double Decker Buses in Baghdad Street

Iraq recently bought  the famous Red Double Decker Buses to support the transportation network in Iraq  the first 80 busses arrived and star working in Baghdad streets .

Iraqis was happy when they saw the red double decker busses in  Baghdad street because the busses  remind them about the old days in 70s and 80s when the red double busses was one of the distinctive feature of the capital.

The price for the red decker busses ticket is 500 Iraqi dinars which is about 40 cents and the busses equipped with monitoring system and display screens and GPS systems .

People prefer to ride the busses instead of the yellow Taxi to see the city and enjoyed their time .

Iraq have used London style red double decker busses since 1954 . the red double decker busses are  one of Baghdad transportation heritage system that the city insist to keep in Baghdad .

Business exchange between Iraqi and China

Charge affairs of china in Iraq announced that 14 billions dollar commercial exchange between the countries every year.

Reuters reports that he also said Baghdad was keen to get Chinese companies investing in the country, which was China’s seventh largest supplier of oil last year

The Iraqi government, which gets most of its $72 billion budget from oil revenues, says it is committed to improving basic services, but progress is painfully slow .

Iraqi government has asked china to support their companies to work in Iraq especially in infrastructure and petroleum  corporation .

The charge affairs of china announced that china working to open Auto factories   in Iraq and Mobile devices factories  in Karbala .

Also China going to open a big shopping center in Baghdad  to show Chinese  production quality to stop the company from  import product with low price in order to make high profit .

Baghdad parks

Municipality of Baghdad announced that 7,00,000,000,  Dinars is the budget for 2012  to maintain and build a new parks in Baghdad which is about 68640207.90 US dollar . the goals of the municipality  is to increase the green area in Baghdad and eliminate the desertification also develop places for entertainment for Iraqi families and contribute the improvement of the environment situation in Iraq .

The city announced that they planted more than 500 thousands trees in Baghdad streets as first stage for a plan that will end in 2013 to make Baghdad Civilized green city .

The city agriculture committee cooperate with the municipality of Baghdad  to give  a prize for the best garden in term of design and type to create a kind of  competition between all the city agriculture departments  .

Dates trade in Iraq

According to official statistics the number for plan in Iraq estimated 30 million trees

Ministry of agriculture said that the palm business in Iraq collapse during the eighties of the last century . Iraq was number one source of high quality of dates in the world

there is more than 230 kinds of dates  in Iraq  .

Iraqi one of the most exporting countries of dates . all the dates go UAE  form south Iraq to UAE they packaging the dated and they exporting the product to another countries 25%  od the annul production go to the local market and the rest go out of the county the price of high quality dates in local market between 50 cent to 1 dollar for the pound and same kinds in foreign market the  price up to 8 dollar for the pound the question is there any way that the Iraqi government can marketing for the Iraqi dates and make it Global brand like the Egyptian Cotton.

Dutch Village in Iraq (Basra)

Basra investment commission announced that they completed all the procedures for the Dutch village project in Hamdan area in Basra .

The budget of the project  is one billion and half US dollar and the period of the project is tow years and half .

The project Consists 6000 villas and 179 all service building appropriate with the nature and the climate of Basra .

The director of  the Dutch company (Nordic Group) announced that the  company specializing in the fields of energy and technology and oil and gas and infrastructure and the company have many projects in America and Brazil and Europe and golf countries and they are willing to open another branch for the company in Iraq . the project going to be green to keep the nature of  Basra clean .

Investment in Marshes of Iraq

Marsh as known in Iraqi ALAHWAR  natural area in south and east of  Iraq along with Iranian Border . many different tribal live there and they developed a unique culture .

The history of Marsh more than 5000 years ago and it’s considered as station for rare migratory birds from Siberia to Africa  , the home of the Buffalo and fish . the Marshes of Iraq was destroyed by Saddam Regime and the new government seeking to reverse the damage from years of draining and damming of the marshes .

Director of Basra investment commission had announced that all sectors will be considered for Marshes and the priority for tourism and agricultural sectors .

Before the war in 60s through 80s until the Iraqi – Iranian war  Millions of Foreign  tourists used to visit the Marshes .

The public relation department of investment in Maysan announced that the investment in Marshes open for all foreign companies and  we are negotiate with Turkish and Iranian companies to start the work in the beginning of next year and the door open for more companies .

The largest residential project in Iraq (Basmaih )

Finally the Iraqi national investment Authority signed for Basmajh project with South Korean company.

The project in southeast of Baghdad 6 miles from Baghdad border the project include all the services such as schools and commercial centers, health centers etc.

The city going to be in 7065669.501 mi²   and planned to accommodate up to 600000 people and 100000 housing units.

The Iraqi government announced that the priority is for poor family first   then Iraqis employees with the government then open to all Iraqis.

The price for each housing units will be between 60000$ – 84000$ which is very cheap compare with real Estate prices in Baghdad. and people pay very convenient

monthly payment between 217 – 303 $ .

Basmajh project going to be the solution for the housing crisis in Iraq and the unprecedented rise in property prices .

The south Korean company (Hanwha) announced that the first 25000 housing units will finish during the first three year of the contract and then the reset for the 200000 units.

Is Iraqi and Arab Companies able to compete with the foreign companies in Iraq

Even though there is no official number of the budget of rebuild the infrastructure in Iraq but some government recourse indicate that 600 billion budget for 2012  . the question is who is going to take the biggest part of these projects . Local Iraqi companies afraid that they cant compete with the big foreign companies.

Iraqi government announced most of the contracts taken by a multinational companies American and European companies. But kind of production for Iraqi companies the government put exceptional condition that any sub contract its have to be with Iraqi Company and then with Arabic companies such as Emirates or Saudi companies.

Pm Nouri Al Maliki announced during his visit to Washington Said the Security situation had improved  and its time to open the door for all  to invest in Iraqi . not just in oil  sector there is many sectors could be of interest including healthcare , telecommunication , construction and financial services. Also he said that he believed the Iraqi economy would grow at a an even faster rate than India or China.