Iraq’s 380 projects include investment in two months

[Stillw8n]

Iraq’s 380 projects include investment in two months

The Ministry of Planning and Development Cooperation, on Tuesday, the inclusion of 380 projects for investment during the months of September and October by 4.3% of the total allocations of investment projects, indicating that the projects were distributed among ministries, departments and institutions in various sectors of wisdom.

According to a release from the Department of government investment programs subsidiary of the Ministry of Planning, “Twilight News” copy “The number of new projects that have been listed during this month and the past is the 380 projects, amounting to 4.3% of the total allocations of investment projects of the ministries and departments not related to the Ministry.”

The statement said that “the projects that were included that focused on service projects of the Ministry of Municipalities and Public Works and private water projects and educational projects for the establishment of schools and develop community service projects,” adding that “projects that the 380 was included came through the application of the provisions of Article (25 – First ) of the Federal Budget Law No. (2) for the year 2011 for rotating the remaining funds from 2010. “

The statement continued, “These projects were distributed among several entities, including water resources, agriculture, industry and minerals, interior and science and technology, health and Municipalities and Public Works and the Municipality of Baghdad, Youth and Sports, Labour and Social Affairs, Construction and Housing, transport and communications, finance, culture and the Ministry of State for Alahoarwalterbah Foundation of prisoners and the Iraqi Media Network.”

And approved the Investment Authority in 2006 a new law to invest in Iraq, according to the law is the body responsible for all investment projects of a federal nature exclusively, while the bodies of the regions and provinces are responsible for investment planning and granting investment licenses in their regions and conducted by the parliament extensive changes at the end of 2009.

Complain of some businessmen and investors from the many obstacles facing them, notably, lack of commitment to the ministries text of the Investment Law and its order issued by the Cabinet, obstructing governmental departments in the province for the implementation of investment projects as a result of its failure to allocate its dependent territories, the conflict between the new bodies and ministries because of laws and paragraphs the constitutional obvious weakness of the culture of investment when the citizen and the lack of cooperation with relevant bodies or with investors, lack of cooperation by government agencies to support the banking sector, investment, investors, financial and administrative corruption, the dominance of the public sector and the marginalization of the role of the private sector

http://bit.ly/sh2WLt