The economic and investment commission discussed the amendments to the Iraqi Investment Law

August 12 0.2015
The economic and investment commission headed by MP held Jawad al- Chairman of the Committee and in the presence of members of the committee meeting on Wednesday, 12/8/2015 to discuss the final notes of the second amendment to the Iraqi Investment Law No. (13) of 2006.

The Chairman of the Committee said that the observations made during the enlarged meeting of the Investment Committee and was attended by representatives of the departments in the ministries and government agencies, as well as a number of meetings with the private sector.

He said the Attorney-Bolani had been reached legal texts would activate the investment sector in ministries that rely mainly financed by the general budget, pointing out that the amendments will be responsive to the ambitious domestic and foreign private sector.


And the Chairman of the Committee that most of the Iraqi ministries, including the Ministry of Youth and Sports, Health, Trade and Industry as well as the ministries of defense, finance and possess the capabilities and capacities of a great Mkanat enable them to play an active role in economic development and to maximize the movement of investment if channeled properly to exploit their potential in a scientific manner.

He pointed out that this means converting these energies than just assets and real estate and land inert to vital economic centers of the wheel to activate the development and supplement the general budget of the new revenues are added to oil imports.


For their part, accept the members of the Committee studies made by the investment departments in the ministries, which included projects for the development of strategic needs of the country industries and its relationship to food security and health, which calls included investment legal framework of the law allows for these ministries to exploit its assets in investment through the development of mechanisms and clear with the National Investment Commission .


It was agreed to raise the Investment Law No. (13) of 2006 for the final vote during the next few days because of its importance at this critical stage after it has been putting the final touches to the law because it is important to strengthen the Iraqi economy movement, as well as the most solution realistic to the crisis suffered by the country currently due to the decline in oil prices in world markets and the resulting pressure on the state budget.


The Chairman of the Committee pointed out that the draft amendments met all the conditions of the first and second reading and discussions punctuated by a series of conferences, seminars and meetings with all the relevant authorities.

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