Shaways offers more than a dozen proposals to promote investment, notably the cancellation of "laws inherited"

Admin Wed Feb 04, 2015 5:14 am

02/04/2015 10:45

Long-Presse / Baghdad

The Deputy Prime Minister Ruz Nuri Shaways, Wednesday, ten proposals for the advancement of the most prominent Cancel "laws inherited" from previous eras, as well as support and assign private banks to participate in the investment process, as called for continuing adjustments in the investment law, stressed the need for infrastructure, processing and especially energy as the basis of the investment process.

Shaways said in a speech at the International Investment Conference which was held at the Babylon Hotel in central Baghdad and attended (range Press), "The upgrading of the investment needs to be comprehensive steps on the social, economic and legal levels and the other to provide a healthy investment climate that promotes laws, as well as the cooperation of the executive and legislative branches for the abolition of all laws inherited from the previous covenants that are inconsistent with the investment policy and development process of the state. "

He Shaways that "one of the important proposals for the development of the investment is to fight red tape and administrative bureaucracy and limiting measures in investment projects, transactions and limited time via electronic correspondence," and called for "solving the problem of allocating plots to set up investment projects, which represents the most important obstacle to investment."

The Vice Prime Minister that "the need for a greater role for local governments in federal projects and the contribution of the private agencies specializing in providing consultancy sector," stressing "the need for the private sector re-active support and find opportunity chance of real partnership with the public sector and foreign investors for the implementation of the projects."

He Shaways that "it is necessary to the continuation of the amendments to the investment law in order to stay in line for the variables in different countries as well as the fight against financial and administrative corruption and limit the influence and awareness of its dangers," calling to conduct surveys to know the possibilities of Iraq and economic development and investment and employment and encouraging government banks to take the role and reconsider abide by its laws to keep up with developments in the banking world. "

He stressed Shaways on "infrastructure and services to address, especially in the field of energy investment universe are not taken without them."

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