GOI proposes to amend all instructions and regulations for t

[Stillw8n]

GOI proposes to amend all instructions and regulations for the investment laws

Baghdad (news) .. The Deputy Prime Minister for Economic Affairs Rose Nuri Shaways that the Iraqi government proposes to amend all laws and regulations of the laws of investment, stressing the need for infrastructure investment.

and Shaways said in a statement singled out by the Agency (news) on Wednesday: that The Iraqi government is now heading to re-examine all instructions of contracts and investment projects in all parts of the country, adding that the country needs to invest a swift and dramatic addition to modify the details of the investment might be another reason in the development and success of investment in Iraq.

He Shaways the federal government and even governments local interest and provide vocabulary investment, which summarized the stability of the security situation and the creation of laws that would facilitate the investment process as well as a facility other investment such as taxes and banks.

The House of Representatives approved, in October 2006 Investment Law, who said at the time that it will open the doors to wide open to foreign investment, due to introducing a lot of facilities to foreign investors, many foreign companies are still hesitant because of fears that the security situation is stable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi Investor and foreign, in each of privileges, with the exception of real estate ownership, as can a foreign investor to rent the land for 50 years, renewable, according to paragraph 11 of the Investment Law.

This should investors to submit their projects for the National Commission for Investment, or the Investment Commission of the region, or province, for investment licenses, and can apply for investment license to the “circle of single-window”, developed by the National Investment Commission, and authorized to inform the investor’s decision to the final in 45 days in order to eliminate administrative red tape in granting investment license.

http://bit.ly/qBcjvY