More investments crucial to Iraqi economy- minister

BAGHDAD / IraqiNews.com: The Iraqi minister of planning and development cooperation on Saturday said that the future of the Iraqi economy depends on domestic and foreign investments. “There is no future for the Iraqi economy without pumping more domestic and foreign investments…,” Ali Baban said on the sidelines of a U.S.-Iraqi economic conference that opened earlier today and was attended by IraqiNews.com. “If we fail to attract domestic investors, we will have little chance of attracting foreign investors,” the minister noted. Earlier this morning, a U.S.-Iraqi economic conference opened in the capital Baghdad with the participation of high-ranking officials from both sides. The conference, held at al-Rasheed Hotel in Baghdad’s fortified Green Zone, was attended by the deputy prime minister, Rafie al-Issawi, and the minister of finance, Baqir Jabr al-Zubeidi. On Friday, the U.S. embassy in Baghdad announced that Deputy U.S. Treasury Secretary Robert M. Kimmitt, Deputy U.S. Commerce Secretary John J. Sullivan, Ambassador Ryan Crocker, and other U.S. officials would attend the conference. The governor of the Central Bank of Iraq (CBI), Sinan al-Shibibi, and the head of the National Authority for Investment, Ahmed Ridha, were among the participants. SS (S) 1