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Deputy Prime Minister Ruz Nuri ShawaysShaways offers more than a dozen proposals to promote investment notably the abolition of "laws inherited"
2/4/2015
The Deputy Prime Minister Ruz Nuri Shaways, on Wednesday, ten proposals for the advancement notably the abolition of "laws inherited" from previous eras, as well as support and the assignment of private banks to participate in the investment process, as called for continuing adjustments in the investment law, stressed the need for infrastructure, processing and especially energy as the basis in the investment process. Shaways said in a speech at the International Investment Conference which was held at the Babylon Hotel in central Baghdad and attended (range Press), "The upgrading of the investment needs to be comprehensive steps on the social, economic and legal levels and the other to provide a healthy investment climate that promotes laws, as well as the cooperation of the executive and legislative branches for the abolition of all laws inherited from the previous covenants that are inconsistent with the investment policy and development process of the state. "
Shaways said that "one of the important proposals for the development of the investment is to fight red tape and bureaucracy and limiting procedures in investment projects, transactions and limited time via electronic correspondence," and called for "solving the problem of the allocation of plots of land for the establishment of investment projects that represent the most important obstacle to investment."
The Vice Prime Minister to "the need to give a greater role for local governments in federal projects and the contribution of the private agencies specializing in providing consultancy sector," stressing "the need for the private sector restores activity and find an opportunity of real partnership with the public sector and foreign investors to implement projects to support."
Shaways said that "it is necessary to the continuation of the amendments to the investment law in order to stay in line for the variables in different countries as well as the fight against financial and administrative corruption and limit the influence and awareness of its dangers," calling to conduct surveys to determine Iraq's economic and development and investment possibilities and employment and encouraging government banks to take the role and reconsider abide by its laws to keep up with developments in the banking world. "
He stressed Shaways on "infrastructure and services to address, especially in the field of energy investment universe are not taken without them."
The board of Investment Baghdad demanded, in the second of September 2015, Prime Minister Haider al-Abadi to form a committee to study the draft amendment to the Investment Law, attributed the reason to the failure to address the major issues that support investment projects, and accused the ministries of "blocking" projects, likely not to pass the draft law in parliament.
The House of Representatives in October passed, in 2006 the Iraqi investment law, which it was said at the time that it would open the door to foreign investment, because introducing a lot of facilities to foreign investors, but that many foreign companies are still hesitant because of fears that the security situation unstable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi and foreign investors in each concession, with the exception of real estate ownership, where can the foreign investor of the lease the land for 50 years, subject to renewal, according to paragraph 11 of the Code investment, to vote in the House of Representatives in 2010, to modify it.
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2/4/2015
The Deputy Prime Minister Ruz Nuri Shaways, on Wednesday, ten proposals for the advancement notably the abolition of "laws inherited" from previous eras, as well as support and the assignment of private banks to participate in the investment process, as called for continuing adjustments in the investment law, stressed the need for infrastructure, processing and especially energy as the basis in the investment process. Shaways said in a speech at the International Investment Conference which was held at the Babylon Hotel in central Baghdad and attended (range Press), "The upgrading of the investment needs to be comprehensive steps on the social, economic and legal levels and the other to provide a healthy investment climate that promotes laws, as well as the cooperation of the executive and legislative branches for the abolition of all laws inherited from the previous covenants that are inconsistent with the investment policy and development process of the state. "
Shaways said that "one of the important proposals for the development of the investment is to fight red tape and bureaucracy and limiting procedures in investment projects, transactions and limited time via electronic correspondence," and called for "solving the problem of the allocation of plots of land for the establishment of investment projects that represent the most important obstacle to investment."
The Vice Prime Minister to "the need to give a greater role for local governments in federal projects and the contribution of the private agencies specializing in providing consultancy sector," stressing "the need for the private sector restores activity and find an opportunity of real partnership with the public sector and foreign investors to implement projects to support."
Shaways said that "it is necessary to the continuation of the amendments to the investment law in order to stay in line for the variables in different countries as well as the fight against financial and administrative corruption and limit the influence and awareness of its dangers," calling to conduct surveys to determine Iraq's economic and development and investment possibilities and employment and encouraging government banks to take the role and reconsider abide by its laws to keep up with developments in the banking world. "
He stressed Shaways on "infrastructure and services to address, especially in the field of energy investment universe are not taken without them."
The board of Investment Baghdad demanded, in the second of September 2015, Prime Minister Haider al-Abadi to form a committee to study the draft amendment to the Investment Law, attributed the reason to the failure to address the major issues that support investment projects, and accused the ministries of "blocking" projects, likely not to pass the draft law in parliament.
The House of Representatives in October passed, in 2006 the Iraqi investment law, which it was said at the time that it would open the door to foreign investment, because introducing a lot of facilities to foreign investors, but that many foreign companies are still hesitant because of fears that the security situation unstable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi and foreign investors in each concession, with the exception of real estate ownership, where can the foreign investor of the lease the land for 50 years, subject to renewal, according to paragraph 11 of the Code investment, to vote in the House of Representatives in 2010, to modify it.
[You must be registered and logged in to see this link.]
