1 / 14

Private Sector Development

Private Sector Development. Andrew Alderson Director Finance, Economic Planning & Development CPA South. Introduction. Background Infrastructure Participation Options Structural Considerations Finance Considerations Contacts. Background.

chapa
Download Presentation

Private Sector Development

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Private Sector Development Andrew Alderson Director Finance, Economic Planning & Development CPA South

  2. Introduction • Background • Infrastructure • Participation Options • Structural Considerations • Finance Considerations • Contacts

  3. Background • CPA South oversees distribution of US$50m to the Cities and provinces each month in salaries and budgets to over 225,000 state employees. • AOR includes Basra, Maysan, Al Muthanna, & Dhi Qar • Essential services – fuel, water and power have now been stabilised. • Finance leads re-development of the region, followed by trade & industry initiatives. • Payment of salaries and budgets is now a successful operation in cooperation with Treasury. • Focus is now on development programmes across key sectors.

  4. Infrastructure • Economy is centrally planned and 98% state controlled – with an embryonic private sector • 25 Ministries nationally responsible for all economic activities • Sub Directorate level over 300 distinct state entities operating in south • Significant opportunities exist at SME level National Ministries Provincial Directorates SOEs Departments Mixed Sector

  5. Privatisation / Divesture Concessions Build-Operate-Own Contracts Leases Build-Operate-Transfer Contracts Management Contracts Service Contracts 5 10 15 20 25 30+ Months Participation Options 100% Private Investment 100% Public Investment

  6. Structural Considerations • Foreign investment permitted under CPA Order No. 39. • Repatriation of funds is permitted • Domestic laws still apply and Ministries and State Companies exist legally under domestic legislation • Private Companies are beginning to flourish • Joint Ventures and Partnerships organised domestically may avoid complicated legal issues • Local business partners are essential to develop long term contacts • Domestic industrial, commercial and managerial capacity constraints will create greater opportunities as re-development programme gathers pace

  7. Finance Considerations • Iraqi banking system rehabilitation continues at a pace. • LCs are available through private banks as well as international funds transfer. • Private banks have strong links with Kuwait & Jordan • EFT available through Baghdad only at present. • Cash drives economy - activities like cheque clearing between banks remains complicated.

  8. E-mail CPA South commercial.enquiries.south@cpa-iq.org Key Staff in Economic Planning Department Director, Head of Department - Andrew Alderson Essential Services & Utilities – Colin McBride, Robert Apsley Finance – Pat McLoughlin Trade & Industry – Bjorn Brandzaeg, Dominique Hope and Daniela Fiori Agriculture & Irrigation – Ole Jepsen & Tim Tuckett Shipping & Ports– Peter Bingham Education – Alan Pentecost & Stuart Hills Health – Aran Maree & Giovanni Tundo Contacts in CPA South

  9. Zuhair Ali Akbar General Manager Central Bank of Iraq Basrah Branch

  10. Content • Introduction • Iraqi Banking System • Currency Exchange Update • Opening a Bank Account • Doing Business in Iraq • Parallels in other Gulf States

  11. Iraqi Banking System • Existing Banks • Central Bank • Rafidain Bank • Rasheed Bank • Private Banks • Specialised Banks • Exchange Enterprises • Currency Exchange Update

  12. Opening a Bank Account • Regulations for opening a Bank Account • Type of Account • Personal or Corporate Account • Registration Process • Deposit of $100,000 with Ministry of Trade

  13. Doing Business in Iraq • Change in Foreign Investment Rules • CPA Order no 39 & 46 • Foreign Ownership Permitted • Further regulations being prepared. Announcement expected soon. • Examples of other Gulf States

More Related