Economist: Iraq has fertile ground to invest in various sect

[Stillw8n]

Economist: Iraq has fertile ground to invest in various sectors

Baghdad (news) .. The economist said Bassem Jamil of the priorities of attracting investors to Iraq by providing a safe environment and activate the appropriate laws of investment, calling for transparency in the deal by the government departments with investors.

Jameel said in a statement to the Agency (news) Tuesday: From the main priorities for attracting investment companies and high net-worth to Iraq for the purpose of investing their money is to provide a safe environment and enacting laws that help the process of investment, as well as to spread education and awareness to citizens via the media and seminars.

and stressed the beautiful: the need to develop facilities and transparency by government departments in their dealings with investors and the elimination of bureaucracy and red tape killer in reviews and the creation of the infrastructure of sound that helps to attract investors to Iraq.

The beautiful: that Iraq has fertile ground to invest in various sectors and the existence of natural resources inherent in the ground in addition to what is enjoyed qualified good human can be exploited in the investment process in Iraq.

The Economist: When heading the investor to the region in which it invests by it conduct a thorough study about the area and looking for the atmosphere safe and legal environment that has a stable economic and political order to preserve its assets from loss.

and had recognized the Iraqi Council of Representatives , in October 2006 Investment Law, who said at the time that it will open the doors 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, in addition to that the law did not give investors the right to ownership of the property the project, and equated the Iraqi investors 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.

while he Spokesman Government spokesman Ali Dabbagh said the Cabinet agreed to amend the investment system No. 7 of 2010, as amended, to meet a ratio of 10% of the rental value of land during the first three years from the date of commercial operation of the project is installed in the contract, and the ratio is 5% of the value of the land for shopping centers and hotels after the end of three years above and fastened in the heart of the contract, as well as the continuation of tourism projects and amusement parks and leisure complexes at a rate of 10% of the rental value of the ground and fastened in the heart of the contract. /

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