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Iraq: New calls for a strategy to encourage investment

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Iraq: New calls for a strategy to encourage investment

Unread postby Stillw8n » Wed Sep 11, 2013 10:24 am

Iraq: New calls for a strategy to encourage investment

called officials and specialists executive bodies to develop a strategic investment to overcome the obstacles in front of the investor, and build the foundations of a new economic.

member of the Economic Commission representative Abdel-Salam al-Maliki said in a statement (morning): “The Investment Law No. 13 of 2006 is still disabled, has underwent a lot of modifications to it, but did not do properly because it is linked with several laws should be legislation and activated including the Companies Act and the Income Tax Act and the Labour Law and Consumer Protection Act and tariff law, which laws are subject to investment. “

noted that Article 2 of the Investment Law No. (13 ) for the year 2006 indicate: “First: to encourage investment and transfer of modern technologies to contribute to the development of Iraq and to develop and expand its base production and service and diversification, Second: to encourage the Iraqi private sector and foreign investment in Iraq by providing the necessary facilities for the establishment of investment projects and enhancing the competitiveness of the projects covered by the provisions of this law in local and foreign markets, III: human resources development based on market demands and provide job opportunities for Iraqis, IV: protect the rights and property investors. “

said Attorney-Maliki said he “has to be that there will be educational sessions in dealing investment, and work to encourage him,” pointing to the importance of overcome obstacles to be Iraq yard attractive for investment and not repulsive.

called a member of the government to overcome the obstacles in front of the investor a routine within the corridors of the state institutions and visa investor and deal with the ministries in order to encourage capital to work inside the country, saying that to build the foundations of a new economic there must be a strategy to diversify the investment destinations and countries investing and not to remain exclusively on specific countries, as well as stay away from political conflicts. and MP-Maliki to maintain the development of a good investment in the country through the establishment of operating rooms or unions belong to the field of small-scale industries or medium, and provide facilities visas investor foreign and coordination with Iraqi embassies, as well as providing safe mode to him, to build the foundations of a good investment, urging that there is a strategic integrated to make Iraq a breeding ground for attracting investors.

For his part, explained the Commission’s decision Mahma Khalil: that there are pillars underpinning the investment environment and the entry of investors, both the investor is a global regional or local, they need political climate and security is of crisis, noting that the investment movement in Iraq, except Kurdistan region is virtually non-existent for many reasons not limited to the investment law only, but on the political and security climate and the banking system and the country’s infrastructure. However, Khalil in his (morning) that “attracting investments not be as soon as legislation law, but a plan of integrated investment to blend in with the possibility of Iraq and its environment. aims investment law to” to push forward the process of economic development, social development and bring technical expertise and scientific resource development and create jobs for Iraqis by encouraging investments and support the process of establishing investment projects in Iraq and expanded and developed in various fields of economic and granting concessions and exemptions for these projects. “
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