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Babylon Investment intends to sue the ministries and departments "obstruct" its work
Friday 11/14/2014 19:46
Announced the investment of the province of Babylon body, on Friday, its intention to sue the ministries and departments that "impede" the completion of transactions, indicating that the Ministry of Finance is obstructionist president of investment projects worth 440 billion dinars.
The general director of Babylon Investment Commission and the agency on behalf of al-Janabi said in an interview that "the Commission intends to sue the ministries and departments that hinder the completion of investment licenses transactions."
Janabi said that "the Commission has promoted investment licenses industrial and residential projects worth 440 billion dinars, except that some of the ministries, especially the Ministry of Finance has not given so far approvals necessary to complete the investment licenses," pointing out that "the province was very impressed with the lack of budget and resort to investment as a solution to the financial crisis ".
The administration called on the Government of the province of Babylon, in the (17 March 2014), the Ministry of Finance to cooperate with the investment View solving intersections that cause reluctance in investment projects, while investment was considered that the investment climate body needs a lot of development.
Parliament approved, in October 2006, the Iraqi investment law, which it was said at the time that he would open the doors wide open to foreign investment, due to submit a lot of facilities to foreign investors, but 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 to ownership of the property the project, and Sao & # 1740; Between Iraqi and foreign investors in all privileges except for real estate ownership, as can a foreign investor from renting land for a period of 50 years, subject to renewal, according to paragraph 11 of the law.
It is incumbent upon investors to submit their projects to the National Commission for Investment or investment Territory body or conservative, to get investment licenses, and they can apply for investment license to the "circle of single window", developed by the National Investment Commission and authorized the investor to inform the final Commission decision within 45 days to eliminate administrative red tape in the granting of investment leave.
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Friday 11/14/2014 19:46
Announced the investment of the province of Babylon body, on Friday, its intention to sue the ministries and departments that "impede" the completion of transactions, indicating that the Ministry of Finance is obstructionist president of investment projects worth 440 billion dinars.
The general director of Babylon Investment Commission and the agency on behalf of al-Janabi said in an interview that "the Commission intends to sue the ministries and departments that hinder the completion of investment licenses transactions."
Janabi said that "the Commission has promoted investment licenses industrial and residential projects worth 440 billion dinars, except that some of the ministries, especially the Ministry of Finance has not given so far approvals necessary to complete the investment licenses," pointing out that "the province was very impressed with the lack of budget and resort to investment as a solution to the financial crisis ".
The administration called on the Government of the province of Babylon, in the (17 March 2014), the Ministry of Finance to cooperate with the investment View solving intersections that cause reluctance in investment projects, while investment was considered that the investment climate body needs a lot of development.
Parliament approved, in October 2006, the Iraqi investment law, which it was said at the time that he would open the doors wide open to foreign investment, due to submit a lot of facilities to foreign investors, but 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 to ownership of the property the project, and Sao & # 1740; Between Iraqi and foreign investors in all privileges except for real estate ownership, as can a foreign investor from renting land for a period of 50 years, subject to renewal, according to paragraph 11 of the law.
It is incumbent upon investors to submit their projects to the National Commission for Investment or investment Territory body or conservative, to get investment licenses, and they can apply for investment license to the "circle of single window", developed by the National Investment Commission and authorized the investor to inform the final Commission decision within 45 days to eliminate administrative red tape in the granting of investment leave.
[You must be registered and logged in to see this link.]
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