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Activating capital markets active investment movement in the country
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Translated by IRAQdirectory.com - [4/28/2008]
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An economist said that capital markets can play a crucial role in attracting the surplus non-employed capital and effectively employ it in the economic cycle through investment operations carried out by individuals and companies in bonds and stocks announced in the securities markets. He pointed out to benefit provided by the Capital Market Law in stimulating the investment environment, considering those markets among the influential facilities in various aspects of economic activities and fields.
Member of the Trustees Board of the Economic Development Centre in Kurdistan, Shirwan Anwar Mustafa, said during a speech on the sidelines of a workshop organized by his center focusing on the laws and procedures affecting the investment environment that the success achieved in the work of the stock market has had a significant impact in the activation and development of the investment environment proved by the participation of foreign investors whose circulation reached (7) billion shares and the size of the circulation (17) billion dinars through the implementation of (337) contracts, and this is the first experience of investment for non-Iraqis since the beginning of August 2007. Mustafa recommended that the body of securities need to have an opinion about the law of privatization, and a position to put controls on some projects for public subscription and then convert them into joint stock companies, pointing to the importance that they coincide with the rules of the Central Bank and Ministry of Finance in respect of government bonds traded in the stock market. He also said that there are many companies have the desire to work and participate in the reconstruction operations in Iraq, and in return many international investment institutions are ready to fund such projects provided they are guaranteed by the banking system existing in the local investment environment, especially that the returns could be achieved by those international companies are significantly profitable, in comparison to relatively stable world markets where the rates of growth and profitability are very limited ..
Mustafa stressed the need to spare no efforts to restore the activation of the Iraqi economy comprehensively to suit its wealth and human resources... He explained that the long isolation experienced by the institutions of the business environment in Iraq from the business environment in the world now requires fast and maximum efforts to build these institutions and to encourage them to participate in reconstruction operations.
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