Investment opportunities in Iraq are large and need to be international effort

8/4/2014 0:00

Stage a new work for the National Business Council

BAGHDAD - Hussein al-Tamimi Tgb
In looking Iraq for a way out of the challenges faced by the process of economic development is needed to the international effort Advanced, which in turn needs to be a safe environment and able to absorb capital and advanced technology, and represents the international effort major international companies active in the construction and reconstruction, investment and the sights, heading towards Iraq, which is the front-Good offer job opportunities are many and great, here highlights the question of the most important elements of the attraction of this effort?
The answer came from a member of the Iraqi National Business Council Abdullah al-Jubouri, in answering the question: "morning" about the decline in the desire of companies to invest in the country despite the availability of such great opportunities reported, saying that the legislation governing the process of investment and of the Investment Law No. 13 of 2006, as amended which is one of the most important investment laws in the region to be a magnet president for global companies, but this is not enough unless it is accompanied by simplistic measures for the implementation of this law, which collides with some applications and disability.


An attractive environment


He added that the second requirement Jubouri is how coordination between the government departments concerned with investment to create an attractive environment for businesses and international capital, and to find radical solutions to the intersections occurring between departments, which constitute a major reason for the reluctance of the investment process in the country.
He pointed to the importance of the availability of infrastructure such as bridges and highways, telecommunications, industry, along with the flexibility to complete transactions, including helping to facilitate the implementation of investment projects in all regions of the country, which needs a large number of projects in the most productive and service sectors, and this requires to initiate the implementation of projects in the infrastructure first .


Global companies


He pointed out that the security aspect is one of the most important elements of attracting international investments, especially that most of the global companies focused on the availability of security and stability to come to the heads of their funds to the sector, which is located within the specialization, pointing to the existence of companies have Atercz at this juncture so much and have the ability to work in environments does not have the stability of a senior security because of economic feasibility in this case be large and this enhances the rates of profit for those companies that come with capital and advanced technology to the country. The big companies do not often stay prefer to work with this principle, but are looking for a safe environment because it does not want to risk their own money.


Accounts and Audit


In another matter stressed Jubouri on the importance of activating the role of accountants and auditors and the adoption of the best ways adopted internationally in this area through the promotion of this segment, which lies upon the task of not allowing any state manipulation accompany operations implementation of investment projects, where the world has witnessed great development in this area requires that the heading to work towards communicating with this effort and moved across the country to engage in Mhaspina developmental courses within the specialized international centers.


Single window


As for the issue of the single window has Jabouri said that it requires to activate this subject and make it of investment incentives by finding formulas ideal for her work over the representation of all stakeholders in their work and are treated within this circle without reference to the institutions concerned and that is achievement within a short period of Atthagl the shoulders of the investor and the dispersion of activity.


National Business Council


Turning to the topic in a very important respect actively Iraqi National Business Council at the stage of a new business after it became a Platform for Action and the internal system, and focus on the orientation towards the international effort to find real partners of foreign investors to operate in Iraq, referring to the quest to overcome all the obstacles that limit Seen the international effort in the country and its members would be a more active role in the next stage of the national economy.
He concluded by emphasizing the importance of the work on the transfer of successful international experiences of regional and international approach are conditions that have lived to what the country is going through and was able to force the reluctance of the Department of Economic and their economies have become influential in today's global arena.


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