Iraqi Investments in Jordan at USD18b

تم نشره في Sun 8 April / Apr 2018. 12:00 AM
  • Dr Majid Saidi, Dr Jawad Anani and Dr Ibrahim Badran – (AlGhad)

DEAD SEA —AlGhad— There are currently 30 thousand Iraqi businessmen in Jordan, with investments amounting to some USD18 billion, said Chairman of the Iraqi Business Forum in Amman, Dr Majid Saidi, during the 16th Arab Business Community Forum held at the Dead Sea today, Sunday.

Meanwhile, Iraq now requires some five million residential units and somewhere between 10 thousand and 20 thousand megawatts of power. Not to mention six thousand schools, he stated.

Still, Iraq’s future is bright, especially after the victories against terrorism, he noted, as he expressed hope to see Arab produce flowing back into the Iraqi market.

In the meantime, participants in the forum noted their concern of the impacts of rising interest rates on the profitability of investment across the Arab World.

They also shed light on the low growth rates and the high unemployment rates. Some at 70 per cent, Dr Jawad Anani pointed, Chairman of the Amman Stock Exchange Board of Directors, while growth does not exceed 3 per cent.

According to Dr Ibrahim Badran, Advisor to the President of the Philadelphia University, the global economy has further suffocated the Arab economy. In addition to the absence of national economic agendas.

As a result, 85 per cent of the Arab World’s foodstuff, in bulk, is imported from the global market place he highlighted, in addition to the increasing reliance on aid.

The forum on revaluating the economic situation in the Arab World underlines that the crises of the region have knocked down many a prosperous trade routes as well. It also disrupted commercial relations among Arab states in favour of other economies, the participants underlined.