Parliamentary Economic: Investment Law in which a lot of problems and needs to be reformulated

Admin Mon Aug 03, 2015 7:14 am

Monday 03 August 2015
| 11:35

Qurtas News / Baghdad

I expected the parliamentary Committee of Economy and Investment, Monday, delay in adoption of the investment law, new look because of its paragraphs contain many of the problems, saying they are working on re-drafting.

Said committee member Najiba Najib told the "Ply News", "Investment Law No. 13 of 2006 as amended and the payment to the House of Representatives by the government Pencchth amended for the second time the committee of economy and investment in the Council to study it carefully," pointing out that "after Viewing the law and found that there are a lot of paragraphs inconsistent with investment and put the country at the moment. "

Najib added that "talk about the approval at the present time or at least during the current two months, it is unlikely because of that we need to re-drafting of the law a way that fits with the current situation of the country."

Najib stressed that the "financial distress experienced by the country, caused by the dependence on oil is very large by up to 97% and lower prices and the deterioration of the reality of the economy and the absence of the national product, we need to invest a file in order to move the market and support the state budget as well as to create in order to support the country's economy is not that narrows it. "

The House of Representatives passed in 2006, the Iraqi investment law, which it was said at the time that it would open the doors wide open to foreign investment, due to submit a lot of facilities to foreign investors, but that 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 ownership of the property the project, and equated the investor Iraqi and foreign in all the privileges, with the exception of real estate ownership, as can the investor foreign than lease the land for 50 years, subject to renewal, according to paragraph 11 of the Investment Law.

http://www.alqurtasnews.com/news/115538/الاقتصادية-البرلمانية-قانون-الاستثمار-في