Parliamentary Committee: Amending the Investment Law in the next legislative term

Parliamentary Committee: Amending the Investment Law in the next legislative termUSD-Iraqi dinar

USD-Iraqi dinarA member of the Parliamentary Investment Committee announced the committee’s intention to amend the Investment Law.

Muhammad Al-Zayadi told {Al-Furat News} agency, “There is no investment in the country due to the lack of clarity in the investment law, which constitutes a major problem, but after the end of the legislative recess, the committee will work on amending the investment law.”

He added, “The political situation has nothing to do with the law because it is related to the service aspect, and the goal of amending the law is to be at the level of moral investment in the country.”

It is noteworthy that the Parliamentary Investment Committee justified its effort to amend some investment laws in order to attract foreign investments and capital because some paragraphs of the laws related to investment conflict with sustainable development in Iraq, including the Investment Law, the Companies Law, and others.

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Saleh: The tripartite budget gave the government flexibility to implement its medium-term plans

Saleh: The tripartite budget gave the government flexibility to implement its medium-term plans
Saleh - The tripartite budget gave the government flexibility to implement its medium-term plans

The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the Federal General Budget Law No. 13 of 2023 (the tripartite budget) granted the executive authority high flexibility in implementing the state’s medium-term financial plan for the years 2023, 2024, and 2025.

Saleh told {Al-Furat News} agency, “In implementation of the provisions of Article 2/77 of the law above, which stipulates that the government shall submit financial schedules related to expenditures, public revenues, and the planned deficit for the fiscal years 2024 and 2025, in order to provide a flexible space that allows for the implementation of the general budget in an efficient and reliable manner.” In accordance with the constants stipulated in Law No. 13 mentioned above.”

He pointed out that “the matter relates to the schedules for the fiscal year 2025 and the possibilities of approving expenditures that may arise in the next fiscal year, or the exhaustion of other expenditures whose deadlines have expired in terms of timing, or the expiration of expenditure commitments and the replacement of new commitments for expenditures during the next fiscal year, and in appreciation of the circumstances surrounding the economy.” Overall, the Federal Ministry of Finance, as a supreme financial authority, in cooperation with the Ministry of Planning (which is the ministry concerned with development projects and overall investment spending), will undoubtedly undertake to provide the necessary adjustments in the financial tables that will be presented for the year 2025 so that they can be studied, starting with the Ministerial Council for the Economy and in accordance with the contexts stipulated by it. Federal Financial Management Law No. 6 of 2019, as amended, then the financial tables in question receive the approval of the Council of Ministers, so that they can be approved in the House of Representatives.”

At the same time, Saleh noted that “there is high and continuous coordination between the parliamentary finance committee concerned with following up and monitoring financial developments in the country and in accordance with the constitution, and between the plans, programs and mechanisms adopted by the financial authority in implementation, which are mutual constitutional guarantees to achieve the country’s supreme interests in development and economic stability.” “To the fullest extent.”

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Iraqis threaten to block an international road and topple “heads and chairs” in protest against the deterioration of electricity

Iraqis threaten to block an international road and topple “heads and chairs” in protest against the deterioration of electricity

Iraqis threaten to block an international road and topple heads and chairs in protest against the deterioration of electricityShafaq News/ Protesters from Al-Khalis district, north of Diyala, threatened on Friday to block an international road passing through the city and topple “heads and chairs” if the problem of deteriorating electricity situation in their areas is not resolved.

Ammar Al-Salami, a cleric and one of the protest organizers, said in a statement he delivered at the protest at the district center, attended by Shafaq News Agency, “The Khalis District Center and all the villages are delivering a denunciatory message during these afternoon hours that they will gather to demonstrate and block the Baghdad-Kirkuk road if it is not blocked.” A solution to the electricity problem, especially in Khalis, as the conditions of the judiciary are deteriorating at various levels.”

He added, “This is a message of condemnation. What is happening is an insult to the city of Khalis and its sacrifices that caused the officials to sit on their chairs,” threatening that “if the problem of the deteriorating reality of electricity is not solved, we will stage a massive demonstration in which the heads and chairs they are sitting on will fall.”

Al-Salami pointed out that “the demands of the people of Khalis are to cancel the whistle-stop clock, increase the share of Khalis from 100 to 130 megawatts, follow up on the employees of the electricity distribution stations responsible for the unfair programmed cut-off of the electrical current, and address poor services.”

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Al-Moussawi: Election of a new speaker of parliament will accelerate the legislation of the oil and gas law

Al-Moussawi: Election of a new speaker of parliament will accelerate the legislation of the oil and gas lawAl-Moussawi - Election of a new speaker of parliament will accelerate the legislation of the oil and gas law

Member of the Parliamentary Oil Committee, Zainab Al-Moussawi, announced the election of a new Speaker of Parliament who will expedite the legislation of the oil and gas law.

Al-Moussawi told {Al-Furat News} that: “Until now, there are no indications from the Sunni blocs to agree on a candidate for the presidency of the Iraqi parliament, due to the {Sunni-Sunni} differences and the splits that occurred within the Taqadum Party headed by Muhammad al-Halbousi.”
She pointed out that “in the event of a Sunni agreement, the vote will take place immediately after the end of the legislative term holiday, as the Shiite and Sunni political blocs are ready to vote.”
Al-Moussawi confirmed, “The vote of members of Parliament on choosing a new candidate for the presidency of the Council will accelerate the approval of the suspended laws, including the oil and gas law, as the law within the committee is largely mature.”

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Demand to prevent the new American ambassador from entering Iraq

Demand to prevent the new American ambassador from entering Iraq

Member of the Popular Legal Movement, Ahmed Shahid Al-Shammari, demanded that the new US Ambassador, Tracy Jacobson, be prevented from entering Iraq because of what he described as her blatant interventions.

Al-Shammari said in an interview with the Maalouma Agency, “The new American ambassador, Tracy Jacobson, is not popular, indicating that the blatant American interventions are aimed at destabilizing Iraq.”

He added, “The American administration is still continuing its interference in the internal affairs of Iraq in various security, political, and even economic fields, and is trying to use the terrorist file again to incite the Iraqi street,” calling on the government to prevent the new ambassador from entering Iraq and accept her as her country’s ambassador to Baghdad.

Calls began to be made to the Iraqi government and the Presidency not to accept Jacobson as the US ambassador to Iraq because of her statements, which are considered blatant interference in the internal affairs of Iraq.

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Kurdistan Federation: Legislating the oil and gas law will resolve the disputes between Baghdad and Erbil

Kurdistan Federation: Legislating the oil and gas law will resolve the disputes between Baghdad and Erbil

Iraqi oil minister Hayan Abdel-Ghani speaks during a press conference at Iraq's Majnoon oil field near Basra

The spokesperson for the Patriotic Union of Kurdistan parliamentary bloc, Suzanne Mansour, said on Wednesday that legislating the oil and gas law would be sufficient to resolve the disputes and outstanding issues between Baghdad and Erbil.

Mansour said in an interview with the Maalouma Agency that the oil and gas issue has been stuck between Baghdad and Erbil for many years, noting that “recourse to the constitution lies in legislating the oil and gas law.”

She added, “The draft oil and gas law is still with the government and we are waiting for the law to be enacted in the House of Representatives,” noting that “approving the law would regulate the relationship between Baghdad, Erbil, and the oil-producing provinces.”
She continued, “There is a committee formed by both sides in Baghdad and Erbil to solve all problems, including the oil and gas law.”

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Is Iraq witnessing a new era in its relations with the West?

Is Iraq witnessing a new era in its relations with the West?

Is Iraq witnessing a new era in its relations with the WestAmid mounting pressure to disband the international coalition against ISIS in Iraq and withdraw forces from that country, the United States and its partners must continue to strive to establish good relations with Baghdad – but this time in light of reducing their presence in Iraq and increasing regional cooperation.

At Baghdad’s request, the United Nations Assistance Mission for Iraq (UNAMI) was ordered to cease operations in December 2025, following a previous decision to end the mission of the United Nations Investigative Team to Promote Accountability for Crimes Committed by “Islamic State” organization (“UNITAD”). At the same time, Baghdad plans to close the remaining camps for internally displaced people in the country, after opening them for the first time at the height of the war against ISIS. More broadly, Iraq is seeking to normalize its diplomatic activity in the region, which has recently included mediating rapprochement talks between Turkey and the Syrian regime.

Despite the international support and military cooperation that characterized Western relations with Iraq in the post-Saddam era, Baghdad began to reevaluate long-existing arrangements. Washington and its partners must follow Baghdad’s example in the step it has taken, by scrutinizing the current basis on which relations with Iraq are based amid the changes taking place in the local and regional environment, while at the same time preserving the aspects of the relationship that bring the greatest benefit.

US Military Presence Then and Now

Since 2014, the US-led military presence in Iraq and Syria has hinged on the call to support the war against ISIS. After the coalition succeeded in ending ISIS control over Iraqi territory in 2017 and Syrian territory in 2019, discussions emerged about adapting its presence to fit Washington’s evolving priorities and Baghdad’s increasing security capacity and financial situation.

The outbreak of the Gaza war last year has added more intensity and tension to this issue, as American support for Israel has led to renewed Iraqi militia attacks at a time when there is an ongoing debate in Washington about the terms, duration, and legal authorization of regional military deployment. The Islamic Resistance in Iraq, a front group used by Iranian-backed armed groups, has claimed responsibility for at least 184 attacks on US forces and interests since the emergence of the resistance on October 18, including a drone strike on January 28. January led to the killing of three American soldiers (for comprehensive data on these incidents, see the Washington Institute’s militia attacks tracking table). The escalation of violence puts Baghdad in a critical and precarious position, as it seeks to maintain its alliance with both the United States and Iran.

In January, Iraqi Prime Minister Muhammad Shia al-Sudani stated that the coalition was no longer necessary to ensure the country’s security. That same month, the United States and Iraq began formal talks through the “Supreme Military Committee” to transform the coalition’s mission into a “permanent bilateral security partnership.” These actions are not surprising — both countries have regularly discussed reducing or ending the US military presence, and the Iraqi parliament has been voting on bills aimed at expelling foreign forces as early as 2020.

Has the fight that Iraq waged against the “Islamic State” organization really ended?
Although ISIS no longer poses an existential threat to Iraq, the country’s security forces have only a limited ability to act against the remnants of this terrorist group if the forces do not have coalition support in planning missions, launching airstrikes, and executing Intelligence operations, and other key tasks. Due to the ongoing disputes between Baghdad and the Kurdistan Region, some disputed areas (in the governorates), such as Kirkuk and Diyala, remain particularly vulnerable to the threat of ISIS, as this group seeks to take advantage of governance gaps and sectarian divisions to fuel violence and impose influence.

On the humanitarian front, the number of internally displaced people in Iraq fell from 6 million in 2014 to 1.1 million as of June 2023, but this sharp decline is largely due to the government’s decision to close several camps for internally displaced people. These areas have now turned into informal settlements where internally displaced people remain without access to government assistance, creating potential hotspots for terrorist recruitment. The ideological legacy of ISIS remains in Iraq, and the group continues to exploit security vulnerabilities to launch attacks and intimidate local residents.

The bumpy transformation has already begun.

The coalition has been quietly reducing its active role in the Iraqi security sector for several years. In December 2021, this coalition shifted from its combat mission to “advising, assisting and enabling,” although the United States, France and some other members were still participating in launching raids against the “Islamic State” in cooperation with the “Iraqi Counter-Terrorism Service.” “—a vital mission given that the organization’s presence in neighboring Syria often threatens to spill across porous borders.

International humanitarian efforts have also been reduced. According to the United Nations Office for the Coordination of Humanitarian Affairs, foreign funding met 95 percent of Iraqi aid requirements between 2017 and 2020, but this percentage fell to 67 percent in 2022. At the same time, the UN Security Council voted unanimously The “UNAMI” mission will end in 2025 – that is, the end of the mission of one of the longest and largest missions in the history of the international organization – and the “UNITAD” team will also stop working next September.

Policy Recommendations

Although criticism of the Iraqi government on some of these issues is certainly justified, Western cooperation with Baghdad on military and humanitarian issues is a major asset to both parties – and one that coalition members should strive to preserve when formulating arrangements. New partnership. It is understandable that Iraq would want to assert its autonomy, so foreign officials should focus more on bilateral security arrangements and development assistance rather than the previous model of multinational humanitarian and military assistance. These talks must also take into account the current political context in Iraq – which is divided between factions that seek good relations with the West, and those that serve the agenda of Iranian-backed militias by rejecting the Western presence entirely.

Despite these challenges and contradictions, it is possible to plan and organize this new phase in a way that is beneficial to both sides, as long as they keep several basic principles in mind:

Ensure that the Supreme Military Committee discussions between the United States and Iraq outline an orderly transition toward establishing a bilateral security partnership, in close coordination with coalition partners. In order to maintain Iraq’s military relations with the West, Washington must rely on allies that are less threatened by militias, and on multilateral frameworks other than those related to the coalition.

For example, France remains deeply involved in the fight against ISIS, has begun developing a bilateral defense relationship with Baghdad, and has expressed its willingness to sell more weapons to the Iraqi army, including Rafale fighter jets. In addition, while the NATO Mission in Iraq has developed a complementary partnership with the Iraqi Ministry of Defence, the EU Advisory Mission in Iraq has been less convincing – partly because of internal problems, but also because the Iraqi Ministry of Interior is involved. More with pro-Iranian networks.

Continue cooperation in post-ISIS stabilization efforts. Internally displaced people in Iraq are not a homogeneous group – they include individuals displaced by the conflict with the Islamic State, Yazidi communities directly targeted by the group, and even families associated with it. Meeting their needs poses a major challenge due to the existing legal and social barriers.

In addition, Iraq has returned nearly 10,000 of its citizens from the “Al-Hawl” detainee camp in northeastern Syria since May 2021, and transferred them to the “Jeddah 1” temporary camp in Nineveh Governorate before reintegrating them into society. To avoid an “Iraqi horror” ripe for recruitment and exploitation by the Islamic State, Baghdad must carefully consider the implications of expanding Jeddah 1 or opening new temporary camps, especially for individuals returning home and affiliated with the Islamic State. For their part, Washington and its partners must ensure that Iraq is prepared to manage the repatriation and reintegration file while taking into account human rights that are consistent with international law. This week’s decision by the United Nations investigative team UNITAD to send large amounts of data on ISIS crimes to Baghdad is a good first step, but it is just one part of a broader process.

Working more closely with regional partners. Qatar, Saudi Arabia, and Turkey have played an increasing economic and political role in Iraq recently. Last year, Riyadh announced a $3 billion partnership in various sectors to help diversify Iraq’s oil-dependent economy, while Doha signed several memorandums of understanding with Baghdad in the energy field. Qatar and Turkey are also participating in the construction of the “Development Road,” a railway and road project aimed at connecting Asia with Europe. As for Ankara’s intention to resume military operations against the Kurdistan Workers’ Party and the groups that orbit it in Iraq and northeastern Syria, it will complicate any rapprochement process with Washington, but in the end, the West may have to choose between Iranian influence and Turkish influence in Iraq.

Monitor the political arena in Iraq carefully – but keep expectations realistic. The West may be able to play a greater role in mediating Baghdad’s disputes with the Kurdistan Region, after the UN Security Council recently adopted a resolution that removed the reference to the United Nations Assistance Mission for Iraq, whose mandate previously included the exercise of this mediation.

Moreover, the Kurds may become closer partners to Washington if US forces withdraw from federal Iraq, since Baghdad would remain divided between pro-Iranian and pro-Western spheres of influence. Therefore, US partners will need to exercise a skillful mix of targeted pressure and strategic patience with Iraq, using both sanctions and incentives as they attempt to facilitate the long-term goal of addressing corruption, federalism, outlaw militias, and other structural challenges.

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Kurdistan Federation: Legislating the oil and gas law will resolve the disputes between Baghdad and Erbil

Kurdistan Federation: Legislating the oil and gas law will resolve the disputes between Baghdad and Erbil

Information / private… The spokesperson for the Patriotic Union of Kurdistan parliamentary bloc, Suzanne Mansour, said on Wednesday that legislating the oil and gas law would be sufficient to resolve the disputes and outstanding issues between Baghdad and Erbil.

Mansour said in an interview with the Maalouma Agency that the oil and gas issue has been stuck between Baghdad and Erbil for many years, noting that “recourse to the constitution lies in legislating the oil and gas law.”

She added, “The draft oil and gas law is still with the government and we are waiting for the law to be enacted in the House of Representatives,” noting that “approving the law would regulate the relationship between Baghdad, Erbil, and the oil-producing provinces.”
She continued, “There is a committee formed by both sides in Baghdad and Erbil to solve all problems, including the oil and gas law.”

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The International Finance Corporation’s investment in Iraq reaches one billion dollars

The International Finance Corporation’s investment in Iraq reaches one billion dollars

Information /Baghdad… The representative of the International Finance Corporation in Iraq, Bilal Zughair, confirmed today, Wednesday, that the institution’s investment in Iraq has reached nearly two billion dollars since 2005, while indicating that economic reform is witnessing an increasing pace.

Zughair said in a statement to the official agency, followed by the / Information Agency/ “The work of the International Finance Corporation dates back to the year 2005, and over the years we have been able to invest approximately two billion dollars in a wide range of sectors,” noting that “our work in Iraq will extend our belief in the future prospects of Iraq and the acceleration of the pace of economic reform, and this will reflect positively in creating investment opportunities.” Others in all sectors, whether industrial, infrastructure, or in the financial and banking sectors.”

He added, “The International Finance Corporation is the arm of the World Bank that is concerned with developing the private sector by providing the necessary financing for private sector projects in addition to providing advisory services. Therefore, the framework of the institution’s work expands to include a wide range of financial services to all companies operating in Iraq in addition to providing consulting services”.

Zaghir continued, “The IFC’s thinking relates to a group of sectors whose importance we believe and whose importance we share with the Iraqi government, whether investing in the Iraqi industrial sectors, where they are productive and an alternative to imports, and the second part relates to the financial sector, both its banking and non-banking parts, in addition to the importance of investing in infrastructure and improving the services provided.” For Iraqis throughout the country,” pointing out that “the main point is our work and encouraging the private sector and working with it.”

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Bank of America recommends that the Big Three in Detroit exit China urgently

Bank of America recommends that the Big Three in Detroit exit China urgently

Bank of America recommends that the Big Three in Detroit exit China urgentlyShafaq News / Bank of America’s chief auto sector analyst, John Murphy, said on Tuesday that the traditional American automakers in Detroit – General Motors, Ford Motor Company and Stellantis – must exit the Chinese market “as soon as possible.”

The warning from Bank of America’s senior analyst comes amid unprecedented competition in China – the largest auto market in the world – and with China dramatically increasing car production for Chinese consumers as well as for global exports, which is known as surplus production capacity.

Murphy, who has previously called on GM to exit the Chinese market, said the “Detroit Big Three” automakers need to focus on their core products and the most profitable areas.

“I think you need to see the Detroit Three exit China as quickly as possible,” he said during a discussion of Bank of America’s annual “Auto Wars” report in suburban Detroit.

“China is no longer a core market for GM, Ford or Stellantis,” he added.

This prospect would have been considered unthinkable for automakers, especially GM, just a few years ago, but the rise of domestic Chinese automakers, such as BYD and Geely, has put increasing pressure on American companies.

GM’s share of the Chinese market, including its joint ventures, fell from about 15 percent in 2015 to 8.6 percent last year – the first time the share has fallen below 9 percent since 2003.

GM’s profits from operations there have fallen 78.5 percent since their peak in 2014, according to Wall Street regulatory filings.

GM executives believe they can improve their operations and regain market share in China, largely with the help of new electric vehicles.

There are also geopolitical risks and uncertainty for US companies operating in China, as US President Joe Biden announced last month that his administration would quadruple tariffs on Chinese electric vehicles.

Murphy said that while Detroit automakers must rethink the way they do business in China, the situation is a little different for Tesla, the leading American company in the field of electric cars.

Murphy explained that Tesla has an advantage in the cost of electric vehicle components amounting to about $17,000, compared to traditional automakers in Detroit, which helps the company in the Chinese market, and gives it “more room to move and maneuver.”

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