A new strategy to encourage investment

09/11/2013 12:00 AM

BAGHDAD - Farah pumice


Officials and specialists called the executive bodies to develop an investment strategy to overcome the obstacles in front of the investor , and build a new economic basis .


A 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 conducted a lot of amendments , but did not do properly because it is linked with several laws should be legislation and activated including the Companies Act and the Law income tax , labor law and the consumer protection Act and the customs Tariff Act , which is subject to investment laws . "


The 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 through the provision of the necessary facilities for the establishment of investment projects and enhancing the competitiveness of the projects covered by the provisions of this law in the domestic and foreign markets , III: human resources development based on market demands and provide job opportunities for Iraqis, IV : to protect the rights and property investors . "


Attorney - Maliki said that " there must be educational sessions in dealing with investment , and work to encourage him ," pointing to the importance of overcoming obstacles to Iraq to be an attractive investment yard and not repulsive .


The member of the Committee on 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 foreign investor and in coordination with the Iraqi embassies , as well as the provision of the situation his security , to build the foundations of a good investment , urging that there be an integrated strategy 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 , whether the investor is a global regional or local , they need to the 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 investment law only, but on the political and security climate and the banking system and the country's infrastructure .



However, Khalil in his speech for the (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 " in order to push forward the process of economic development , social development and bring technical expertise and scientific resource development and create jobs for Iraqis to encourage investment and support the establishment of investment projects in Iraq , expanded and developed in various fields of economic and granting concessions and exemptions for these projects. "






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