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Calls for activating the laws that cringe investment obstacles in the country
2/5/2015
BAGHDAD - Tariq al-Araji,
said Deputy Prime Minister for Energy Affairs, Bahaa al-Araji said the advancement of the investment sector came to be absolutely necessary for Iraq, stressing the importance of removing all obstacles facing this vital sector, and among the Chairman of the Investment Committee of parliamentary Jawad al-Bolani, the keenness of the legislative and executive branches to provide real opportunities to develop the economy, Chairman of the National Investment Commission Sami al-Araji revealed granting body during the past few years, 135 work permit investment value of $ 73 billion. came those assurances, through expanded economic conference sponsored by the Committee on the economy and parliamentary investment yesterday, and saw the participation of governmental and wide, as well as the presence of a remarkable public and private sector bodies and competent economists and businessmen, bankers and authorities.
They said in his speech at the conference, which was organized in coordination with the General Authority for Investment and attended «morning»: The «such a conference held by the legislative authority is nothing but clear evidence of higher coordination and harmony with the executive power ».
He added that «the advancement of the investment in the country came to be absolutely necessary, especially if the budget grant ministries and agencies greater freedom in this area law, explaining that the investment experience in Iraq's modern and marred by a lot of obstacles in the previous period, and he must work to overcome obstacles and provide a suitable environment for investment in the country.
For his part, the nicest, Deputy Prime Minister for Economic Affairs Rose Nuri Shaways, in his speech at the conference, the obstacles faced by the advancement of the investment in Iraq several points, pointing out that among those points continuation of the laws inherited that intersect with Investment Law in the country, as well as to refrain from the allocation of land to invest in Baghdad and the provinces, and the imbalance in government banks system and the spread of financial and administrative corruption and quotas in investment circles.
and that among the obstacles, too, the absence of the culture of investment at all levels, and the absence of a clear vision for investment, as well as for infrastructure failure, pointing at the same time that the security reality is one of the most prominent and the most important obstacles facing the investment process in the country.
He pointed out that Iraq and according to these data must take comprehensive steps at all levels to provide the investment climate, as well as cooperation of the legislative and executive branches and shorten the routine and time solving the problem of allocation of land for investment as one of the most important obstacles.
He Shaways that one of the solutions to the revitalization of the investment sector is to give local governments a greater role in bringing investors and to provide the right environment for them, in addition to the support of foreign investors and the private sector and the development of investment projects , the most important anti-financial and administrative corruption and activating the role of the regulatory institutions to encourage banks to take their role in the investment and development of infrastructure projects and activate the performance of the National Investment support laws.
For his part, Chairman of the Investment Committee and the economy parliamentary Jawad al-Bolani stressed that the Commission, in coordination with the Investment Authority is keen to ensure the success of this two-day conference and has through the call by some specialists from the legislative and executive branches of government bodies and the competent authorities as well as to invite a number of traders and economists, businessmen and bankers to discuss and arrive at the best solution for the sponsor to the advancement rate of investment in the country by amending paragraphs laws that hinder investment and installation of the things that contribute to encouraging Investor to work in Iraq.
Among that the legislative and executive powers are keen care to provide real opportunities for the development of the economy, in order to serve the country's development, stressing that the committee economy parliamentary and investment uncertain that the advancement of the investment does not have to hold a conference or change the investment law, but requires a package of laws that should be on the House of Representatives activated.
In turn, the Chairman of the Investment Authority, Dr. Sami al-Araji revealed that the authority granted during the past few years, 135 vacation investors were investing in the value of $ 73 billion, have returned those vacations these amounts below the level of ambition of the body as it was ambitious body after starting work against the backdrop of the London Conference in 2009 to be implemented 500 extended project to five years and that the investment amounts to be $ 400 billion.
He noted that many of the observations and constraints accompanied the work of the Commission, stressing that if they are removed, the body will investigate the quality of the areas of investment and the economy boom, indicating The window did not take the decision Mdyate that the foundations for it, which led to the reluctance of investors, noting that the competent authorities to activate this subject began to encourage investors
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2/5/2015
BAGHDAD - Tariq al-Araji,
said Deputy Prime Minister for Energy Affairs, Bahaa al-Araji said the advancement of the investment sector came to be absolutely necessary for Iraq, stressing the importance of removing all obstacles facing this vital sector, and among the Chairman of the Investment Committee of parliamentary Jawad al-Bolani, the keenness of the legislative and executive branches to provide real opportunities to develop the economy, Chairman of the National Investment Commission Sami al-Araji revealed granting body during the past few years, 135 work permit investment value of $ 73 billion. came those assurances, through expanded economic conference sponsored by the Committee on the economy and parliamentary investment yesterday, and saw the participation of governmental and wide, as well as the presence of a remarkable public and private sector bodies and competent economists and businessmen, bankers and authorities.
They said in his speech at the conference, which was organized in coordination with the General Authority for Investment and attended «morning»: The «such a conference held by the legislative authority is nothing but clear evidence of higher coordination and harmony with the executive power ».
He added that «the advancement of the investment in the country came to be absolutely necessary, especially if the budget grant ministries and agencies greater freedom in this area law, explaining that the investment experience in Iraq's modern and marred by a lot of obstacles in the previous period, and he must work to overcome obstacles and provide a suitable environment for investment in the country.
For his part, the nicest, Deputy Prime Minister for Economic Affairs Rose Nuri Shaways, in his speech at the conference, the obstacles faced by the advancement of the investment in Iraq several points, pointing out that among those points continuation of the laws inherited that intersect with Investment Law in the country, as well as to refrain from the allocation of land to invest in Baghdad and the provinces, and the imbalance in government banks system and the spread of financial and administrative corruption and quotas in investment circles.
and that among the obstacles, too, the absence of the culture of investment at all levels, and the absence of a clear vision for investment, as well as for infrastructure failure, pointing at the same time that the security reality is one of the most prominent and the most important obstacles facing the investment process in the country.
He pointed out that Iraq and according to these data must take comprehensive steps at all levels to provide the investment climate, as well as cooperation of the legislative and executive branches and shorten the routine and time solving the problem of allocation of land for investment as one of the most important obstacles.
He Shaways that one of the solutions to the revitalization of the investment sector is to give local governments a greater role in bringing investors and to provide the right environment for them, in addition to the support of foreign investors and the private sector and the development of investment projects , the most important anti-financial and administrative corruption and activating the role of the regulatory institutions to encourage banks to take their role in the investment and development of infrastructure projects and activate the performance of the National Investment support laws.
For his part, Chairman of the Investment Committee and the economy parliamentary Jawad al-Bolani stressed that the Commission, in coordination with the Investment Authority is keen to ensure the success of this two-day conference and has through the call by some specialists from the legislative and executive branches of government bodies and the competent authorities as well as to invite a number of traders and economists, businessmen and bankers to discuss and arrive at the best solution for the sponsor to the advancement rate of investment in the country by amending paragraphs laws that hinder investment and installation of the things that contribute to encouraging Investor to work in Iraq.
Among that the legislative and executive powers are keen care to provide real opportunities for the development of the economy, in order to serve the country's development, stressing that the committee economy parliamentary and investment uncertain that the advancement of the investment does not have to hold a conference or change the investment law, but requires a package of laws that should be on the House of Representatives activated.
In turn, the Chairman of the Investment Authority, Dr. Sami al-Araji revealed that the authority granted during the past few years, 135 vacation investors were investing in the value of $ 73 billion, have returned those vacations these amounts below the level of ambition of the body as it was ambitious body after starting work against the backdrop of the London Conference in 2009 to be implemented 500 extended project to five years and that the investment amounts to be $ 400 billion.
He noted that many of the observations and constraints accompanied the work of the Commission, stressing that if they are removed, the body will investigate the quality of the areas of investment and the economy boom, indicating The window did not take the decision Mdyate that the foundations for it, which led to the reluctance of investors, noting that the competent authorities to activate this subject began to encourage investors
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