Iraq seeks healthcare investors

Iraq has budgeted US$3.8 billion (Dh13.95bn) to rebuild its healthcare sector this year and maintains the country is open for foreign investors despite security concerns. For years, the Iraqi healthcare system was the envy of the Arab world, with its hospitals providing world-class treatment and students studying medicine at reputable universities.
But after years of war and civil strife, Iraqi officials are trying to repair a country that has seen almost all of its medical facilities and supply manufacturers destroyed, while many of its doctors have fled. Many multinational companies looking to invest in the oil-rich country have been discouraged as the threat of instability has stalled development. At last week's Arab Health trade show in Dubai, Dr Salah Shubber was looking to fix Iraq's healthcare problems.
A former pharmacy owner in Canada, Dr Shubber returned to Iraq two years ago to serve as ministerial adviser to the Iraqi ministry of health and is responsible for helping to decide how the ministry's funds are spent. Iraq's healthcare budget has remained steady at $3.8bn, but could be increased depending on its oil production, Dr Shubber said. The Iraqi constitution guarantees free health care to its citizens. The country spent about $124 per capita on health care in 2006, compared with GCC average spending of $631 per capita and a global average of $716 per capita, figures from the World Health Organisation showed.
The US and the UK spent $6,719 and $3,332 per capita respectively on health care. "Saddam [Hussein] left Iraq with nothing," Dr Shubber said. "Only two of our 30 pharmaceutical manufacturers are operational right now." There is a lack of investment from regional countries such as the UAE and Saudi Arabia, he said. While firms based in the UK, Turkey, India and Iran have begun to do business in Iraq, the investment was minimal and had not come close to modernising the medical infrastructure, he said.
"I wish they could come," Dr Shubber said. "The chance is for them now. Come first, serve first. We need their service now. We need the help of our brothers." UAE investors were responsible for spending commitments of $37.7bn, or nearly a quarter of all investment pledged to Iraq this year. Last week, Siemens Healthcare landed a $69 million contract to outfit Iraq's hospital infrastructure, one of the largest healthcare projects in the country's history.
Other companies involved in providing services and supplies include General Electric, Toshiba and Philips. Dr Shubber said that aside from building hospitals or fixing damaged ones, the country needed makers of pharmaceuticals and medical supplies, as well as administrative expertise. Even second-hand medical equipment was highly sought after. "We have many choices for the investor to go through, either through the private sector or through the government sector," he said.
A report published by the international non-government organisation Medact in 2008 said the Iraqi healthcare system was in disarray due to the lack of an institutional framework, huge staff shortages, intermittent electricity and unsafe water supply. Dr Shubber said that the area south of Baghdad extending to Basra, and the northern autonomous region of Kurdistan, were safe for travel and free of violent activity. Only the area surrounding Baghdad remained dangerous, he added.
dgeorgecosh@thenational.ae

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Earth under attack: Cosmic impacts throughout history

- 4.5 billion years ago: Mars-sized object smashes into the newly-formed Earth, creating debris that coalesces to form the Moon

- 66 million years ago: 10km-wide asteroid crashes into the Gulf of Mexico, wiping out over 70 per cent of living species – including the dinosaurs.

- 50,000 years ago: 50m-wide iron meteor crashes in Arizona with the violence of 10 megatonne hydrogen bomb, creating the famous 1.2km-wide Barringer Crater

- 1490: Meteor storm over Shansi Province, north-east China when large stones “fell like rain”, reportedly leading to thousands of deaths.

- 1908: 100-metre meteor from the Taurid Complex explodes near the Tunguska river in Siberia with the force of 1,000 Hiroshima-type bombs, devastating 2,000 square kilometres of forest.

- 1998: Comet Shoemaker-Levy 9 breaks apart and crashes into Jupiter in series of impacts that would have annihilated life on Earth.

-2013: 10,000-tonne meteor burns up over the southern Urals region of Russia, releasing a pressure blast and flash that left over 1600 people injured.

COMPANY PROFILE

Name: Kumulus Water

Started: 2021

Founders: Iheb Triki and Mohamed Ali Abid

Based: Tunisia

Sector: Water technology

Number of staff: 22

Investment raised: $4 million

Key facilities

Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
Premier League-standard football pitch
400m Olympic running track
NBA-spec basketball court with auditorium
600-seat auditorium
Spaces for historical and cultural exploration
An elevated football field that doubles as a helipad
Specialist robotics and science laboratories
AR and VR-enabled learning centres
Disruption Lab and Research Centre for developing entrepreneurial skills

The specs: 2018 Renault Koleos

Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km

The specs: 2018 Harley-Davidson Fat Boy

Price, base / as tested Dh97,600
Engine 1,745cc Milwaukee-Eight v-twin engine
Transmission Six-speed gearbox
Power 78hp @ 5,250rpm
Torque 145Nm @ 3,000rpm
Fuel economy, combined 5.0L / 100km (estimate)

Indoor cricket in a nutshell

Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

C Side nets between halfway and the bowlers end: 2 runs

D Back net: 4 runs on the bounce, 6 runs on the full

Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

The biog

Hometown: Birchgrove, Sydney Australia
Age: 59
Favourite TV series: Outlander Netflix series
Favourite place in the UAE: Sheikh Zayed Grand Mosque / desert / Louvre Abu Dhabi
Favourite book: Father of our Nation: Collected Quotes of Sheikh Zayed bin Sultan Al Nahyan
Thing you will miss most about the UAE: My friends and family, Formula 1, having Friday's off, desert adventures, and Arabic culture and people

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Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month

Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30

Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse

Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth

Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances

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Gulf Men's League final

Dubai Hurricanes 24-12 Abu Dhabi Harlequins

Defending champions

World Series: South Africa
Women’s World Series: Australia
Gulf Men’s League: Dubai Exiles
Gulf Men’s Social: Mediclinic Barrelhouse Warriors
Gulf Vets: Jebel Ali Dragons Veterans
Gulf Women: Dubai Sports City Eagles
Gulf Under 19: British School Al Khubairat
Gulf Under 19 Girls: Dubai Exiles
UAE National Schools: Al Safa School
International Invitational: Speranza 22
International Vets: Joining Jack