Economist: Iraq lacks the legal environment attracting capital

An economic expert stressed the importance of a legal system guaranteeing foreign investment in Iraq.

The expatriate expert Saif Hilfi said in a press statement: "International investments look at Iraq with great interest and plans to be accepted by the next, but it is looking for a legal system guarantees the course of action and guarantees the rights of all parties to the process."

"The most important laws that must be followed by the international companies are the Income Tax Law, which is not commensurate with the changes witnessed in the international economy, which witnessed developments in all joints without exception," he said.

He added: "The tax rates imposed on the completion of investment projects carried out by the international effort, may be the most important challenges to the presence of international companies that want to work within the Iraqi labor market."

He warned the economic expert: "The importance of working to create a legal environment attractive to capital and advanced technology, especially as Iraq is in dire need of a large workload to accommodate a large number of local, regional and international companies."




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