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Maysan province seeks to attract foreign investment to compensate the fiscal deficit in budget

30 May 2009
Maysan governor Mohammad Shaia’a Al-Sudani, emphasized on the local government’s keenness to expand the investment base in the province and to improve the service and economic reality in the governorate. Al-Sudani that he supported the exploitation of border oil fields with Iran, specially that Iran is exploiting the fields located on its territory of the other side of the border. He pointed out that the province of Maysan, is a good environment for investment for its security and stability, in addition to the availability of specialized human resources, he gestured about talks with foreign companies, including Canadian group has been visiting the province occasionally, in addition to British investors of Iraqi origins, and a group of Spanish businessmen will visit Maysan soon. For his part, the deputy governor of Maysan, Mohammad Hussein, said the local government had developed an action plan to set up service projects in the province, however, reducing the public budget has prevented the implementation of such projects in the province. Hussein stressed on the Governorate’s need for such projects, and it is " underdeveloped in terms of services, projects, investment and infrastructure ; therefore the province needs a lot of work." Hussain noted that the only way for creating projects in the province is to rely on the investment sector and opening the door to all investors from inside and outside Iraq, and he expressed his willingness "to provide all the necessary requirements for a successful investment in the province." Reference is made to the budget of Maysan province in 2009 amounted to 94 billion dinars, putting the governorate in fiscal deficits that prevented the implementation of new projects.
Prepared & Translated By: Team Iraq Daily Business Updates
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