مجلس الاعمال العراقي | مظلة الاستثمار والشركات العراقية في الاردن

Economic Event: Participation of the IBC Chairman & Deputy Chairman and Secretary General In the Joint Dialogue Seminar Organized by the Private Iraqi Banks Association

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At the invitation extended by the Chairman of the Iraqi Private Banks Association, IBC Chairman Dr. Majid Saedi, Deputy Chairman and Secretary General Dr. Saad Naji and IBC Director General participated on Sunday March 21st 2021 in the Joint Electronic Dialogue Seminar organized by the Iraqi Private Banks Association under the title “The Impact of Covid-19 on the Financial Institutions”.

The Governor of the Central Bank of Iraq Mr. Mustafa Ghalib, the Governor of the Central Bank of Jordan Mr. Ziad Fariz, President of Bahrain Banks Association Mr. Adnan Yousif, and a number of Iraqi and Arab specialists and experts participated in the Seminar.

During the session, a number of topics were discussed such as; the impact of COVID-19 Pandemic on the financial institutions, the rise of defaulted debts, the method of dealing with them, how to attract investment to Arab countries especially Iraq and Jordan, in addition to the effects of the rate of exchange on attracting investments.

During the Seminar, the Governor of the Central Bank of Iraq Mr. Mustafa Ghalib  spoke about a series of measures taken by the Central Bank of Iraq to confront the impacts of COVID-19 Pandemic on economy, indicating that the Pandemic has led to an increase in defaulted debts by 18% during 2020, which requires taking certain treatment measures that simulate the input of Iraqi reality; especially the security and legal inputs.

مجلس الاعمال العراقي | مظلة الاستثمار والشركات العراقية في الاردن

Iraqi Business Council Deputy Chairman & Secretary General Participates in the Activities of launching the 65th Session of the United Nations Women Status Commission

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At the invitation of the Chief Executive Officer of the United Nations Global Compact Mrs. Sanda Ojiambo, IBC Deputy Chairman and Secretary General Dr. Saad Naji participated on March 16th and 17th 2021 in the launching activities of the Sixty-Fifth Session of the Women Status Commission, which was held electronically.

The Commission in its 65th Session held this year focused on full and effective participation of women and their decision-making in public life, elimination of violence, achievement of gender equality and the empowerment of women and girls.

The meeting also assessed the progress achieved in implementing the conclusions agreed upon in the 60th Session that was held in 2016 on “the Empowerment of Women & Their Relation to Sustainable Development”.

In addition, a number of ministerial round-table meetings were held and high level interactive dialogues, general discussions, interactive dialogues and expert-group discussions took place.

In his speech on the opening day of the 65th Session of the Women Status Commission, the UN Secretary General Mr. Antonio Guterres said “the equal participation of women is the factor we need to change the rules of the game.”

He explained that for decades, evidence indicated that women’s participation enhanced economic outcomes, encouraged greater investment in social protection and lead to more sustainable peace and promoted climate action.

Senior executives, including Coca-Cola, Toyota-Motors and the Malaysian Oil Company participated in the conference.

It is worth mentioning that the Women Status Commission is a technical committee of the United Nations Economic & Social Council (ECOSOC) dedicated to developing global policies exclusively to promote gender equality and the empowerment of women.

مجلس الاعمال العراقي | مظلة الاستثمار والشركات العراقية في الاردن

Economic Event: Meeting of IBC Chairman & Members with members of the Parliamentary Economic & Investment Committee

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IBC Chairman Dr. Majid Saedi, IBC Deputy Chairman and Secretary General Dr. Saad Naji, IBC members Dr. Hasenein Al-Ibrahimi and IBC Director General met on Tuesday March 9th 2021 with members of the Economy & Investment Committee of the Jordanian Parliament; representatives Dr. Khalid Al-Satneji and Mr. Khaldoun Hina.

At the beginning of the meeting Dr. Saedi reviewed some of the investments of IBC members in the Hashemite Kingdom of Jordan and the major role of the Iraqi investors and businessmen in supporting the Jordanian economy.

He also stressed the need to support investment during this difficult phase since all economic sectors have been negatively and seriously affected by the Pandemic, and providing the necessary facilities to maintain investment, in addition to renewing the investor’s temporary passport according to the previous instructions and conditions, according to which investors and their families were granted this passport without the need to change or increase the conditions for its renewal, since the new instructions contradict the previous ones,  according to which the passport was granted.

For his part, Representative Dr. Khalid Al-Satneji expressed keenness of the Jordanian Government on developing the investment environment and that this meeting was held to start working on that, stressing that the Economic & Investment Parliamentary Committee will form joint committees with the Iraqi Business Council and organize bilateral meetings between these committees, Ministers and the Jordanian Government’s team to develop solutions for investment and provide more incentives and facilities to investors to enhance and develop the investment environment in Jordan, which has been affected by the difficult regional conditions and Cornonavirus Pandemic.

Dr. Saad Naji also spoke during the meeting about the importance of modifying the definition of investment in Jordan, not limiting it to specific sectors, since all economic sectors fall within the concept of investment in a large number of courtiers that witnessed great economic growth and prosperity, and facilitate the residence renewal instruction for investors without the need to refer to the Verification Department of the Jordanian Interior Ministry, and provide incentives and facilities to investors that would enhance investment, settle it, and reduce the chances of the investors’ transferring their investments to other countries.

IBC member Dr. Hasenein Al-Ibrahimi discussed the study and data that he had earlier prepared on foreign investment in the Kingdom, which included a number of important points; the most important of which are the terms and laws for grating citizenship to investors, facilities provided to attract and settle investments in a number of countries such as Turkey, the United Arab Emirates, Egypt, Britain and the united States of America, and stressed the need to be familiar with the investment experiences, conditions and privileges in those countries, which would support the Jordanian economy and move the wheel of investment.

 

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مجلس الاعمال العراقي | مظلة الاستثمار والشركات العراقية في الاردن

Participation of Iraqi Business Council Deputy Chairman & Secretary General in the First Coordination Meeting Held by the International Labor (ILO) Organization

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IBC Deputy Chairman and Secretary General Dr. Saad Naji and IBC Director General participated on Tuesday February 23rd 2021 in the First Coordination Meeting held by the International Labor Organization via Zoom application to form a national team to develop a permanent strategy for the transition from informal to formal economy according to the recommendations of the International Labor Organization No. (204) that calls upon member states to design coherent and integrated strategies to facilitate the transition from informal to formal economy.

At the beginning of the meeting, ILO Expert Mr. Muhammad Maayteh welcomed the participants reviewing the objectives of the First Coordinating Meeting, followed by a presentation on the methodology of diagnosing the informal trait and the method of shifting to the organized trait presented by ILO Regional Coordinator Dr. Maha Qattaa.

Then ILO Expert Ms. Miranda Figgerman talked about the steps of forming a national team to participate in this diagnosis and lay down a roadmap to shift to organized economy.

Dr. Saad Naji participated with an important intervention on the necessity of involving the private sector and owners of businesses in setting the strategy and securing social protection and incentives for those who work in the informal economy to facilitate their transition to the formal economy, bearing in mind that developing this strategy will require the involvement of a number of United Nationals organizations, representatives of the Iraqi government and civil society organizations.

مجلس الاعمال العراقي | مظلة الاستثمار والشركات العراقية في الاردنمجلس الاعمال العراقي | مظلة الاستثمار والشركات العراقية في الاردن

Economic Event: The Iraqi Business Council Hosts a Business Dinner in Honor of The Iraqi Minister of Industry & Minerals

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The Iraqi Business Council hosted on Saturday February 13th 2021 at Burj Al-Hamam Restaurant / Amman Intercontinental Hotel a business dinner in honor of the Iraqi Minister of Industry and Minerals Mr. Manhal Aziz Al-Khabbaz and the accompanying delegation visiting Jordan with the presence of the Iraqi Ambassador to Jordan Mr. Haider Al-Athari, the Jordanian Minister of Industry, Trade & Supply Engineer Maha Al-Ali and the former Jordanian Minister of Industry Dr. Tariq Al-Hamouri, Chairman of Jordan and Amman Chamber of Industry Engineer Fathi Al-Jaghbir and IBC Chairman and members investing in the industrial sector.

At the beginning of the meeting, IBC Chairman Dr. Majid Saedi welcomed the guests and wished them success in their endeavors to strengthen and develop the Jordanian – Iraqi relations.

In turn, the Iraqi Minister of Industry and Minerals Mr. Manhal Al-Khabbaz thanked IBC members on organizing this meeting and reviewed his Ministry’s achievements and the modern renewal projects that are in progress.

He also talked about ways to advance work of the Iraqi Ministry of Industry and Minerals.

Also, the Iraqi Minister stressed the integration and cooperation between the Iraqi and Jordanian industries especially factories owned by Iraqis in Jordan.

In turn, the Jordanian Minister of Industry Engineer Maha Al-Ali lauded the role of the Iraqi Business Council in supporting the Jordanian economy and strengthening the Iraqi – Jordanian relations.

This was followed by discussion of a number of issues concerning investment in both countries.

At the end of the meeting IBC Chairman and members presented the visiting guests with IBC icon the “Sumerian Tree of Life”.

 
مجلس الاعمال العراقي | مظلة الاستثمار والشركات العراقية في الاردن

Participation of Iraqi Business Council Deputy Chairman & Secretary General in the Symposium Concerning Women Forum & Sustainable Investment

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At the invitation of the General Secretariat of the International Arab Investor Forum, IBC Deputy Chairman and Secretary General Dr. Saad Naji and IBC Director General participated in the Symposium entitled “Women to the Front in 2030 Sustainable Development Strategy” which was held electronically on Wednesday February 2nd 2021, and organized by the General Secretariat of the International Arab Investor Forum in cooperation with the Arab Women Organization.

During the Forum, Dr. Saad Naji participated with a speech, in which he reviewed the activities of the Iraqi Business Council and the achievements realized in the field of social responsibility including women empowerment and sustainable development.

The Director General of the Arab Women Organization and Deputy Chairman of the Board of Trustees of the International Arab Investor Dr. Fadiya Kiwan participated in the Forum with a speech speaking about the most important issues that concern women, the need to activate women’s role in the sustainable development and the necessity to enhance her role in the political, social and economic life.

The Symposium was conducted by the Secretary General of the International Arab Investor Forum Mr. Nadheem Muhammad Al-Sabah, and it included the following topics:-

  • The five generations in the path of women advancement on the Arab and international levels.

 

  • From the woman in a family to the woman as a citizen.

 

  • 2030 sustainable development agenda and the position of women in it.