Iraq is a fertile environment for foreign investment; Prepar

[Stillw8n]

Iraq is a fertile environment for foreign investment; Prepares for Arab Summit and economic development dicussion

In light of the efforts of Iraq to the success of the Arab summit of 23, which is scheduled to be held in Baghdad next March, the Council decided Arab Economic and Social intensify efforts for the good preparation for the summit to include the economic file to be presented to the summit follow up the implementation of vertices economic and social development and preparation for the Arab summit economic development and social development in its third session, scheduled in Riyadh January 2013.

For his part, said Dr. Abdullah Al-Bandar, the economic advisor to the National Commission for investment in his remarks for the “citizen: The subject of investment new vertices, where he will attend the Arab Economic Council at its cabinet of 89 Anjar investment between Arab countries, and on the light of this, do the job in preparations for the preparation of a climate ripe for Arab investment to map investment Arabic has a number of investment opportunities in different economic sectors.

and the investment climate Arab and constraints faced by Arab investors, Dr. Bandar that the Arab countries to provide the Arab Association with all information related to the climate of the Arab Investment the vision by identifying investment opportunities and to find solutions to the obstacles of investment. As for the encouragement of the banking sector to attract Arab capital, confirms Bandar that one important factor in attracting investment, whether Arab or foreign focus on banking systems whenever there was a hardware advanced banking will This leads to facilitate the financial business related projects, whether with regard to borrowing from banks Oalamilit you make, pointing out that the existence of a developed banking system is a prerequisite for the development of the investment sector the Arab world, whether at the level of intra-or foreign investment.

According to Bandar that any country that wants to make progress he must strike a balance between Alssayastin monetary, financial, and this rarely happens in some countries, if monetary policy is tight.

And how to encourage Iraq to invest says economic adviser to the National Commission for solid investments Iraqi investment law No. 13 of 2006 contains a set of incentives for investors it owns the land to the investor in the housing sector and in sectors other than housing, is also lease land to investors for a period of 50 years and at low prices and simple, as well as exemption of Iraqi law, investors that contain for 10 years after commercial operation of the project.

The investor also has the right to transfer its funds introduced by Iraq to the outside of the time and demonstrates what currency they wish, as well as convert Awayed obtained by including the wages of workers. It is also the facilities provided by Iraq to the investor that he has a right to believe in the project and that comes with any insurance company deems appropriate.

In light of this confirms that Iraq Bandar provides many opportunities for investment in many sectors such as housing, electricity, tourism investment and the investment at the level of health.

Finally, the possibility of the development of agriculture, industry and other sectors in Iraq, Dr. Al Bandar at the conclusion of his remarks for the “citizen” that, in addition to the fact that oil accounts for 70% of the output of local production, but that Iraq is an agricultural country with all the ingredients for self-sufficiency for food, Iraq has two rivers Tigris The Euphrates and the land is fertile and can therefore if the development of the agricultural sector to develop other sectors.

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