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Zamili: guarantor of the Investment Company Act not to confiscate invested projects
1/27/2015 0:00
BAGHDAD - Hussein al-Tamimi Tgb - thank Fatlawi
Investment axis adopted Economic Forum last morning with the aim of openness towards sustainable development, and that which they discussed the most important challenges which stand in front of the presence of the giants in the world of work and put the necessary treatments in this circumstance that touch everyone's need to create the necessary environment to attract international effort evolving.
Prime Investment Authority, Baghdad engineer Shaker Zamili said that the investment law proceeded to push economic and social development process and development, where it was the Investment Law No. 13 of 2006 amended the National Investment Commission is responsible for national policies for investment and the development of plans and controls, monitor applied in drawing investment and are dedicated exclusively with the federal character of the strategic investment projects.
Investment Guarantee
Zamili among the most important of the methods used by countries that have preceded us successful their experiences is to provide guarantees and benefits to investors, pointing out that foreign investment companies can not work in any country without it.
He said the most important safeguards provided by the Iraqi investment law for investors in terms of their projects and the money that they have entered into Iraq, which is for investment guarantee against non-commercial risks that (political) and other risks.
He noted that the most prominent of those guarantees not to confiscation or nationalization of the investment project is covered by the provisions of this law and both part where this is the most important topics that thinks investors, especially in countries undergoing political transformations in transition.
Attractive environment
Governor of Baghdad, Ali al-Tamimi student working on the concerted efforts of all stakeholders to create an attractive environment for investment to all parts of Iraq, especially as the country is experiencing problems can not be solved only through investment, particularly the housing crisis.
The economists Cdo in more than one occasion the country's need to nearly three million housing units, to ease population pressure in the city of Baghdad and the cities of Iraq due to the wrong policies of housing, which was followed by the year 2003.
The head of the parliamentary Economic Committee Jawad al-Bolani stressed the necessity of activating the productive sectors to be the starting point for the process of economic development, stressing that the agricultural and industrial sectors, that can be Sanda president to support the federal budget.
He noted that the development of the productive sectors process that requires support from the investment of cash in the economy Alklth service and capital preservation cycle within Iraq's banking sector, pointing to the importance of the work to create the conditions for activating the banks Aldharov and make it a major contributor in the development process.
Bolani between the importance of working to increase investment awareness of the employees associated with this joint is important in the economic life of the institutions, stressing the need for cooperation with the investor.
Post-Arab was present in the meeting and asked the lady of the Republic of Lebanon is working to one of Lebanese banks in Iraq, the need for the government encourages investment business within the country, and there are special facilities for workers in the investment sector, referring to the delay in obtaining a visa Iraq.
Shaker Zamili returned to talk about the challenges faced by investors in Baghdad, particularly the lack of adoption of government departments, all the terms of the Investment Law, and the lack of a banking system that supports investment projects and facilitate the movement of funds into and out of Iraq, where most of the banks that are currently not eligible for the financing of investment projects and also can not afford issuing and receiving letters of great warranty.
Routine procedures
He Zamili: that competent and appointed the process of investment circles have not been implemented logistics configuration required to receive investment for example in Baghdad is still the design basis of date and keep pace with the current vision or future upcoming projects and even current as more farmland is not updated their sex, especially that the land is suitable for agriculture also, conversion of the sex of those lands are long procedures routinely exceed 360 days while the investment law provides for the granting of the license in a maximum period of 45 days, as well as the case of maps and archives engineering needed by the investor as most of the land in Baghdad have not buckle waypoint (utm) and I found it is old and not up to date.
Activating Industry
In spite of our efforts for the advancement of the industry sector, but there are several pitfalls hamper industry activation by investing (according Zamili) and most importantly the lack of regular industry and holds approvals in the basic design of the cities, despite persistent claims by the relevant authorities to activate the window delegates but one of those actors are still not serious in authorized to send them powers to speed up the granting of licenses.
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1/27/2015 0:00
BAGHDAD - Hussein al-Tamimi Tgb - thank Fatlawi
Investment axis adopted Economic Forum last morning with the aim of openness towards sustainable development, and that which they discussed the most important challenges which stand in front of the presence of the giants in the world of work and put the necessary treatments in this circumstance that touch everyone's need to create the necessary environment to attract international effort evolving.
Prime Investment Authority, Baghdad engineer Shaker Zamili said that the investment law proceeded to push economic and social development process and development, where it was the Investment Law No. 13 of 2006 amended the National Investment Commission is responsible for national policies for investment and the development of plans and controls, monitor applied in drawing investment and are dedicated exclusively with the federal character of the strategic investment projects.
Investment Guarantee
Zamili among the most important of the methods used by countries that have preceded us successful their experiences is to provide guarantees and benefits to investors, pointing out that foreign investment companies can not work in any country without it.
He said the most important safeguards provided by the Iraqi investment law for investors in terms of their projects and the money that they have entered into Iraq, which is for investment guarantee against non-commercial risks that (political) and other risks.
He noted that the most prominent of those guarantees not to confiscation or nationalization of the investment project is covered by the provisions of this law and both part where this is the most important topics that thinks investors, especially in countries undergoing political transformations in transition.
Attractive environment
Governor of Baghdad, Ali al-Tamimi student working on the concerted efforts of all stakeholders to create an attractive environment for investment to all parts of Iraq, especially as the country is experiencing problems can not be solved only through investment, particularly the housing crisis.
The economists Cdo in more than one occasion the country's need to nearly three million housing units, to ease population pressure in the city of Baghdad and the cities of Iraq due to the wrong policies of housing, which was followed by the year 2003.
The head of the parliamentary Economic Committee Jawad al-Bolani stressed the necessity of activating the productive sectors to be the starting point for the process of economic development, stressing that the agricultural and industrial sectors, that can be Sanda president to support the federal budget.
He noted that the development of the productive sectors process that requires support from the investment of cash in the economy Alklth service and capital preservation cycle within Iraq's banking sector, pointing to the importance of the work to create the conditions for activating the banks Aldharov and make it a major contributor in the development process.
Bolani between the importance of working to increase investment awareness of the employees associated with this joint is important in the economic life of the institutions, stressing the need for cooperation with the investor.
Post-Arab was present in the meeting and asked the lady of the Republic of Lebanon is working to one of Lebanese banks in Iraq, the need for the government encourages investment business within the country, and there are special facilities for workers in the investment sector, referring to the delay in obtaining a visa Iraq.
Shaker Zamili returned to talk about the challenges faced by investors in Baghdad, particularly the lack of adoption of government departments, all the terms of the Investment Law, and the lack of a banking system that supports investment projects and facilitate the movement of funds into and out of Iraq, where most of the banks that are currently not eligible for the financing of investment projects and also can not afford issuing and receiving letters of great warranty.
Routine procedures
He Zamili: that competent and appointed the process of investment circles have not been implemented logistics configuration required to receive investment for example in Baghdad is still the design basis of date and keep pace with the current vision or future upcoming projects and even current as more farmland is not updated their sex, especially that the land is suitable for agriculture also, conversion of the sex of those lands are long procedures routinely exceed 360 days while the investment law provides for the granting of the license in a maximum period of 45 days, as well as the case of maps and archives engineering needed by the investor as most of the land in Baghdad have not buckle waypoint (utm) and I found it is old and not up to date.
Activating Industry
In spite of our efforts for the advancement of the industry sector, but there are several pitfalls hamper industry activation by investing (according Zamili) and most importantly the lack of regular industry and holds approvals in the basic design of the cities, despite persistent claims by the relevant authorities to activate the window delegates but one of those actors are still not serious in authorized to send them powers to speed up the granting of licenses.
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