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Tuesday, August 8, 2017

DINAR IRAQ & DONG VIETNAM UPDATE, 8 AUGUST

Japanese firms eye Vietnamese market Japanese companies are focused on the Vietnamese market and seek wider, deeper co-operation with Vietnamese firms, Eiichi Tani from SME Support Japan said in Hà Nội on Monday. Speaking at a meeting between a delegation of the Japanese Ministry of Economy, Trade and Industry (METI) and Vinafco Joint Stock Corporation – a logistics service provider, Tani said Japanese businesses have now shifted their attention from the Chinese to the Vietnamese market. The meeting was a part of the SME Support Japan’s support programme for small- and medium-sized Japanese enterprises looking at international markets.

 “The event was to help both sides exchange information on Việt Nam’s transport market in general, and both countries’ transport situation in particular,” Tani said. “It also touched upon necessary customs procedures to bring Japanese goods into Việt Nam.” Tokuhiro Imamura, chairman of Imamura Joint Stock Company, which specialises in interiors, said his company is looking to expand its market. It plans to build a plant in Việt Nam in the future, Imamura said, adding that the company would export some products to Việt Nam to explore and understand the market. 

Imamura JSC has some basic information from Japanese logistics firms operating in Việt Nam, but it wants to build further contacts with Vietnamese businesses as local firms have advantages in their own market. At the meeting, a Vinafco representative shared information related to administrative procedures, time and costs for import-export customs clearance from Hải Phòng Seaport to various plants. She said it is not tough to import Imamura’s products into Việt Nam, and that Vinafco is willing to support the company. The Japanese delegation said they chose Vinafco for the meeting as there are similarities between Vinafco and Imamura. Vinafco has 30 years’ experience in the logistics sector and in multi-purpose transport in Việt Nam. — VNS
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Mosul is liberated. Tal Afir, Iraq and Raqqa, Syria are not. Tal Afir is surrounded and the invasion plans completed and will only take a few weeks. Raqqa is about half done, but not ready for the full-scale door-to-door invasion. That will happen this Fall.
Today the GOI passed laws related to decentralize government and elections in the provinces. These are important to support the local governments which us apart of the original UN plan to rebuild the country of Iraq as a democracy. So they are complying with the UN sanctions to de-centralize the government.


The GOI has actually done something last week and today when they approved the budget amendment. That was a requirement of the IMF, and by passing it, they got the loan installment approval from the IMF’s review. ​
Today’s regional laws help them comply with the UN. So the GOI actual made progress. But, the real need here is a deal with the Kurds. They are coming to Baghdad next week but it’s all about Barzani getting his own country. The clerics (Sadre, not Sistani), Abadi, US, Turkey, Syria, and Iran are all against the Kurds getting their independence at this time. That election is end of September.
Also, they announced that the budget has been amended and is projected to go from 95% revenue derived from oil down to 85%. That’s an important step to economic diversification that the IMF wanted.
Moody’s came out over the weekend with a C+ credit rating for Iraq based on a number of factors. Although Mosul is liberated, political stability is still a problem along with the dependency on oil revenues.
The possibility of a Kurdish exit also is concerning. Moody’s wants to see a stronger united government that’s not corrupt and a more diverse economy before they would consider increasing Iraq’s credit rating.
The report published by Moody’s makes no reference to Iraq’s currency nor Article VIII nor the UN Chapter VII sanctions.
They see the end of ISIS holding towns is in sight. Trump accelerated the removal of ISIS, but Baghdad is going to have to negotiate an Oil and Gas law without giving in to Barzani. What he is doing is not Constitutional.
There are many Kurds that don’t want to have to defend themselves against everyone in the region. They will be viewed as Israel. They see through Barzani’s pseudo democracy projection because he refuses to leave office. They tried to get Barzani election on the same ballet in September but he got that delayed.
On the other hand, the Kurds are the US’ strongest ally in the region. Without them ISIS would never have been defeated. But the Trump administration seems to have a more practical than the Obama and Bush administrations when it comes to breaking up Iraq. If Barzani’s vote on independence is soundly defeated in September, and he is finally replaced, it should put this issue to bed.

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