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Araji offers five solutions to achieve a quantum leap in investment
BAGHDAD / ...
The President of the board of the national investment Sami al-Araji, Wednesday, five solutions to achieve "the quality of the investment boom in the sector of Iraq, and stressed that the single window to the granting of investment licenses have not been implemented, as pointed out that the body was granted an investment license in 1035.
Sami al-Araji, in a speech at the International Investment Conference which was held in Babylon, in central Baghdad hotel, attended by "eye Iraq News," that "there are five solutions are summarized to face obstacles if we apply we will achieve the quality of the investment sector in Iraq, boom."
Araji said that "The first point is the one window that did not take Mdyatea this basis factor in the non-arrival of adult serious investors to invest in Iraq and the reason is still in the centralized economy and economic reforms that we have begun in 2004 down to 2014,
and the brothers in the committee advisers have great duties in this aspect and presented at the Economic Committee of the Council of Ministers and I went to the House of Representatives and was giving us a great view because the economic reform process requires that dismantle the bureaucracy and administrative large in ministries or local administrations in the provinces. "
Araji said that "this point must be addressed, and began to Prime Minister's Office and the General Secretariat of the Council of Ministers as well as the board of advisers and others to consider this issue seriously
after inform them of the obstacles as well as the time that we lost at this stage due to lack of investment culture and understanding of investment and knowledge of the process requirements investment away from state contracts. "
Araji pointed out that "The second point is the subject of land there is a clear provision in the law says oblige all owners of land and name that offers what is the benefit of land for investment into the national body was so offered to investors were not so with regret,
but became the subject of land in the event of a pitiful and introduced in a lot of things that do not want to take the time, but this issue is taken seriously as well as full now and should take and what are the wider range of land in each province and safe investment even fundamentalist classified as investment map is given to investors. "
Araji stressed the need for "define investment while maintaining bodies and we are with the ministries What is the nature of the services required for these projects in order to be placed in the fact that budgets investor needs some services, some of which are very important for the success of the investment process."
Araji pointed out that "the subject of funding is something to be pursued and must reconsider the law 94 of 2004, the Banking Act in order to be a development in addition to its business and the law of the Central Bank and private banks must intervene in the development and the investment process in the Economic Commission discussed a lot of ideas and opinions in this aspect was
A proposal will be implemented is that the central bank finances are excreted from private banks, in addition to the industrial, agricultural, real estate and other bank in the amount of money we have proposed five billion dollars, an interest rate of zero
, as is found in many countries, whether the United States or the European Union, and so do small and medium enterprises in this side in addition to the Authority's proposal to create a development bank, God willing,
see the light to support investment in this aspect and the amount of money is secreted from the national budget even this amount is built and Pichapkat with international banks. "
Araji said that "in these constraints refer to the disabled important a work of investment authorities in the provinces where no move away from entanglements developments in the provincial councils and there was a great influence in this matter and thus interrupted a lot of investment authorities in the provinces of carrying out their duties as they should,
and therefore this entanglements must get rid of them, "asserting that" these constraints as well as a lot of them that are equally important integrative must be addressed even come up with the required investment and the environment sought by all businessmen and investors something in addition to the many initiatives that have been at home. "
Araji pointed out that "there are a number of initiatives, including initiatives educational, agricultural, and that took its scope wider and there are initiatives in addition to economic reform is the industrial initiative as well as the support and development of the private sector to be submitted by the board of advisers
after that discussed the Economic Commission will be discussed in the Council of Ministers are paid to the Council initiative Representatives of legislation that are important things that you must take the whole parallel work until we proceed with what is required from the country of all possibilities
and a map of the bus much of the investment projects, whether small, medium or big strategic and, God willing, in the next five-year plan to see the fruits of this. "
He stressed Araji that "the Authority submitted a proposal for the second amendment to the investment law to be consistent with all of these requirements, including the difficulties reported and contained in these amendments and exemptions from many laws that hinder the process of investment,"
adding that "some of the existing laws if we take exception Launches wider, and therefore today and tomorrow, we hear not afraid of criticism and we are with you there are problems to be solved together and proceed towards the Grand View to build a home.
Araji said, "that if we look at the past five years, we will find that we granted leave in 1135 approximate value of $ 73 billion, which is 20% of the value of what our face in the London Conference on the First Amendment."
The Deputy Prime Minister Ruz Nuri Shaways presented in a speech during the conference itself, more than a dozen proposals for the advancement of the most prominent Cancel "laws inherited" from previous eras, as well as support and assign private banks to participate in the investment process,
as called for continuing adjustments in the investment law, stressed the need for infrastructure, especially energy-related treatment as the basis in the investment process.
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, the Tadelh
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BAGHDAD / ...
The President of the board of the national investment Sami al-Araji, Wednesday, five solutions to achieve "the quality of the investment boom in the sector of Iraq, and stressed that the single window to the granting of investment licenses have not been implemented, as pointed out that the body was granted an investment license in 1035.
Sami al-Araji, in a speech at the International Investment Conference which was held in Babylon, in central Baghdad hotel, attended by "eye Iraq News," that "there are five solutions are summarized to face obstacles if we apply we will achieve the quality of the investment sector in Iraq, boom."
Araji said that "The first point is the one window that did not take Mdyatea this basis factor in the non-arrival of adult serious investors to invest in Iraq and the reason is still in the centralized economy and economic reforms that we have begun in 2004 down to 2014,
and the brothers in the committee advisers have great duties in this aspect and presented at the Economic Committee of the Council of Ministers and I went to the House of Representatives and was giving us a great view because the economic reform process requires that dismantle the bureaucracy and administrative large in ministries or local administrations in the provinces. "
Araji said that "this point must be addressed, and began to Prime Minister's Office and the General Secretariat of the Council of Ministers as well as the board of advisers and others to consider this issue seriously
after inform them of the obstacles as well as the time that we lost at this stage due to lack of investment culture and understanding of investment and knowledge of the process requirements investment away from state contracts. "
Araji pointed out that "The second point is the subject of land there is a clear provision in the law says oblige all owners of land and name that offers what is the benefit of land for investment into the national body was so offered to investors were not so with regret,
but became the subject of land in the event of a pitiful and introduced in a lot of things that do not want to take the time, but this issue is taken seriously as well as full now and should take and what are the wider range of land in each province and safe investment even fundamentalist classified as investment map is given to investors. "
Araji stressed the need for "define investment while maintaining bodies and we are with the ministries What is the nature of the services required for these projects in order to be placed in the fact that budgets investor needs some services, some of which are very important for the success of the investment process."
Araji pointed out that "the subject of funding is something to be pursued and must reconsider the law 94 of 2004, the Banking Act in order to be a development in addition to its business and the law of the Central Bank and private banks must intervene in the development and the investment process in the Economic Commission discussed a lot of ideas and opinions in this aspect was
A proposal will be implemented is that the central bank finances are excreted from private banks, in addition to the industrial, agricultural, real estate and other bank in the amount of money we have proposed five billion dollars, an interest rate of zero
, as is found in many countries, whether the United States or the European Union, and so do small and medium enterprises in this side in addition to the Authority's proposal to create a development bank, God willing,
see the light to support investment in this aspect and the amount of money is secreted from the national budget even this amount is built and Pichapkat with international banks. "
Araji said that "in these constraints refer to the disabled important a work of investment authorities in the provinces where no move away from entanglements developments in the provincial councils and there was a great influence in this matter and thus interrupted a lot of investment authorities in the provinces of carrying out their duties as they should,
and therefore this entanglements must get rid of them, "asserting that" these constraints as well as a lot of them that are equally important integrative must be addressed even come up with the required investment and the environment sought by all businessmen and investors something in addition to the many initiatives that have been at home. "
Araji pointed out that "there are a number of initiatives, including initiatives educational, agricultural, and that took its scope wider and there are initiatives in addition to economic reform is the industrial initiative as well as the support and development of the private sector to be submitted by the board of advisers
after that discussed the Economic Commission will be discussed in the Council of Ministers are paid to the Council initiative Representatives of legislation that are important things that you must take the whole parallel work until we proceed with what is required from the country of all possibilities
and a map of the bus much of the investment projects, whether small, medium or big strategic and, God willing, in the next five-year plan to see the fruits of this. "
He stressed Araji that "the Authority submitted a proposal for the second amendment to the investment law to be consistent with all of these requirements, including the difficulties reported and contained in these amendments and exemptions from many laws that hinder the process of investment,"
adding that "some of the existing laws if we take exception Launches wider, and therefore today and tomorrow, we hear not afraid of criticism and we are with you there are problems to be solved together and proceed towards the Grand View to build a home.
Araji said, "that if we look at the past five years, we will find that we granted leave in 1135 approximate value of $ 73 billion, which is 20% of the value of what our face in the London Conference on the First Amendment."
The Deputy Prime Minister Ruz Nuri Shaways presented in a speech during the conference itself, more than a dozen proposals for the advancement of the most prominent Cancel "laws inherited" from previous eras, as well as support and assign private banks to participate in the investment process,
as called for continuing adjustments in the investment law, stressed the need for infrastructure, especially energy-related treatment as the basis in the investment process.
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, the Tadelh
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