Thursday, September 15, 2005

Iraqi Dinar article by PRweb

PRWeb August 16th:

"With companies like GM, Coca-Cola, Pepsi, Chevron, Texaco, HSBC and many others moving in to do business in Iraq, there couldn't be a better time to take a low cost stake in Iraq's financial future. Iraq's economy was one of the wealthiest in their region for decades. Reconstruction money is just starting to flow into Iraq. In the next few years, they anticipate Billions of Dollars in more Aid and corporate investment to add to Iraq's bottom line. Iraq's GDP grew 50% last year despite the insurgency and infrastructure problems. They are estimated to post another 34% GDP growth this year. Many economists predict some of Iraq's greatest economic growth to come in 2006-2007. This combined with their ever increasing oil output and the climbing price of oil, and it is easy to see that Iraq is poised for dramatic growth.

The Iraqi government is calling on international companies to develop 11 oil fields in the south to increase oil production to 3 million barrels a day, said the manager of oil fields development at the Oil Ministry. At the end of this year, the Oil Ministry is expected to sign contracts with the international companies to develop the southern fields. Among the fields the ministry is trying to develop are the Majnoon field, which has reserves of 12 to 30 billion barrels, and the West Qurna field, which has reserves of 11 to 15 billion barrels.

Last year, the Iraqi Ministry of Industry issued 7,661 licenses for new businesses: 2,896 in the construction sector, 1,520 in food, 200 in textiles, 667 in the plastic and chemical industries, and 1,336 in mining and resources. This year, Adel Karim, a deputy minister for industrial development, has announced the government's intention to start the privatization program, with cement, brick and pharmaceutical factories being transferred into the private sector as a first step.

The government is also cutting taxes to boost economic activity. Iraq has slashed income tax to 15% from 49% and substantially increased the minimum sums individuals can earn net of tax. The progressive tax system replaces a 1982 law under which individuals had to pay 49% of income beyond certain salary brackets. The current tax system is progressive. It starts with 3% up to a maximum of 15%.

The US government has already invested 200 Billion Dollars into the future of Iraq. They have committed another 18 Billion in reconstruction Aid. That is more than $2000.00 per US Household. That does not begin to account for the additional US and foreign aid along with the ever increasing corporate investment going into Iraq. Are you positioned to profit from those investments? Why Buy Dinar explains exactly how you can capitalize on that growth by buying New Iraqi Dinar.

This is a similar situation to what happened in Japan and Germany after World War II. Their economies were rebuilding so you could buy up their currency very cheaply. Once their economies got back on track, anyone who had taken advantage of that opportunity became extremely wealthy.


Post a Comment

<< Home